The tragic news was revealed in a tweet by Rajeev Thakkar, fund manager with PPFAS Mutual Fund.
It is with deep regret that I announce the demise of our founder and mentor @paragparikh in a road crash.
— Rajeev Thakkar (@RajeevThakkar) May 3, 2015
Details of the road accident have been revealed in a news item in Omaha.com.
Parag Parikh, 61, his wife, Geeta Parikh, 59, Rajeev Thakkar, 42, and Raunak Onkar, 29, were travelling in a blue Volkswagen Jetta (2014 make). The car was driven by Rajeev Thakkar. Parag Parikh and Geeta Parikh were seated in the back.
The Jetta was eastbound on Shirley Street when it stopped at a stop sign at 63rd. Believing the way was clear, Thakkar accelerated into the intersection. Its passenger side was struck by a 2011 Chevrolet Silverado pickup driven by Daniel R. Vacek, 63, of Omaha about 6:45 a.m. at 63rd and Shirley Streets.
The Jetta crashed into a house while the Chevrolet crashed into an electricity pole.
Rajeev Thakkar and Raunak Onkar appear to have been saved by the airbags. However, Parag Parikh passed away. Geeta Parikh is hospitalized in a critical condition with head and chest injuries.
Other ace stock pickers took to twitter to express their condolences at the tragic demise of Parag Parikh.
“Sad & shocked 2 hear abt sudden demise of @paragparikh. May his soul rest in peace&may God give strength to family” Ashish Chugh tweeted.
“RIP @paragparikh – really sad and shocking; I will miss you!” Porinju Veliyath said.
“Very sad to hear sudden demise of @paragparikh sir 🙁 may his soul rest in peace &God give strength to Parikh family” Jatin Khemani said.
“oh no! He was a great friend. I will miss him. My his soul rest in peace.” Prof Sanjay Bakshi lamented.
Rajeev Thakkar showed immense strength during the crises: “All of us @PPFAS are mourning but we are strong. With the support of @npparikh6 and @sahilparikh we will take his vision forward.” He promised.