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Pallonji Mistry, the Indian-born billionaire, has passed away in Mumbai. He was 93. A company spokesperson confirmed the death of the Indian tycoon. He died mid-sleep at his south Mumbai residence on the intervening night of Monday and Tuesday, the officials said, PTI reported.

Pallonji Mistry , the end of an era. One of life’s greatest joys was to have witnessed his genius , his gentleness at work. My condolences to the family and his loved ones," tweeted Union Minister Smriti Irani.

 

Mistry and his family control the Shapoorji Pallonji Group, which started more than 150 years ago and today employs more than 50,000 people in over 50 countries, according to its website. Its landmark projects include the Reserve Bank of India and the Oberoi Hotel in Mumbai and the blue-and-gold Al Alam palace for the Sultan of Oman.

Here is all you need to know about the Indian billionaire Pallonji Mistry

  • Pallonji Mistry accumulated a net worth of almost $29 billion, according to the Bloomberg Billionaires Index, making him one of the richest men in India and in Europe.
  • Mistry, the largest individual shareholder in the Tata Group, has18.4 per cent holding in the conglomerate.
  • Mistry surrendered his Indian nationality and became an Irish citizen in 2003 through his long marriage to Dublin-born Patsy Perin Dubash.
  • Mistry was born on June 1, 1929, in Mumbai. His father, Shapoorji Mistry, worked for the family company, which the son joined in 1947.
  • He led the company’s expansion into the Middle East, including Abu Dhabi, Qatar and Dubai, in 1970. It won a contract to build the Sultan of Oman’s palace in 1971 and many ministerial buildings there.
  • Mistry took a backseat after Shapoor, his eldest son, took over as chairman of SP Group companies in 2004.
  • In addition to his two sons Mistry had two daughters, Laila and Aloo. The latter married Noel Tata, the half-brother of Ratan Tata, who was named chairman emeritus of Tata Sons.

 

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