Rakesh Jhunjhunwala was indomitable, says PM Modi

Rakesh Jhunjhunwala was indomitable, Modi tweeted after reports of Jhunjhunwala's death. He leaves behind an indelible contribution to the financial world when he is full of life, witty and insightful. He was very passionate about India's progress. His passing is saddening. My condolences to his family and admirers. Modi said that Om Shanti was added.

His cause of death has not been publicly released. CNN affiliate CNN News 18 reported that Jhunjhunwala had been dealing with health issues.

On August 7 he was seen in a wheelchair at the launch for Akasa Airlines, a company he backed, as it made its maiden flight from Mumbai to Ahmedabad.

An investor who began stock trading while still in college, Jhunjhunwala's early investments paid off, with his net worth at $5.8 billion at the time of his death, according to Forbes. He was a chartered accountant by profession and went on to run a stock trading firm, RARE Enterprises. He became a popular TV celebrity because of his growing prominence in the market. Tata Group, one of India's largest conglomerates, is one of his investments in a number of companies. The Taj hotels are run by Tata Motors, watchmaker Titan, Tata Communications and Indian Hotels Co. He is survived by his wife and three children.