Pallonji Mistry, chairman of the Shapoorji Pallonji group, passes away at the age of 93
By Team Newsable | First Published Jun 28, 2022, 10:58 AM ISTIn 2016, he was awarded the Padma Bhushan, one of India's highest civilian honours, for his contributions to industry and trade.
The chairman of the Shapoorji Pallonji Group, Pallonji Mistry, passed last night at his Mumbai home. He was 93. Mistry is survived by his wife, Patsy Perin Dubash, and four children, Shapoor Mistry and Cyrus Mistry and Laila Mistry and Aloo Mistry.
The largest individual shareholder in the Tata Group with an 18.4 per cent stake, Mistry, co-founded the Mumbai-based Shapoorji Pallonji group with his family. The Shapoorji Pallonji group was founded in 1865 and operated in various industries, including engineering and construction, infrastructure, real estate, water, energy, and financial services.
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Pallonji Mistry was born in India to a Parsi family. In 2003, he took Irish citizenship through marriage.
In 2016, he was awarded the Padma Bhushan, one of India's highest civilian honours, for his contributions to industry and trade. Mistry earned the moniker "Phantom of Bombay House."
Shapoorji Mistry, Mistry's elder son, is the chairman of Shapoorji Pallonji And Company Pvt. Ltd. From 2012 to 2016, his younger son Cyrus Mistry was the chairman of Tata Sons.
Mistry is the 41st richest person in the world, according to the Bloomberg Billionaires Index, with a net worth of $28.9 billion. He is ranked higher than Azim Premji, who is ranked 48th.
Also Read: 10 richest Indian businessmen in Forbes 2021 list
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Also Read: Tata vs Mistry case: SC to hear Cyrus Mistry's plea to expunge remarks against him
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