Pallonji Mistry passes away: 5 things to know about business tycoon | Latest News India

Business tycoon Pallonji Mistry passed away at the age of 93 at his Mumbai residence Monday night. The construction magnate, who was born on June 1, 1929 in the metropolis, is survived by his four children – two sons and two daughters.

Here are five things you need to know about Pallonji Shapoorji Mistry:

(1.) Mistry was the chairman of the Shapoorji Pallonji Group, which was established in 1865. Headquartered in Mumbai, the conglomerate operates in sectors such as construction, real estate, textiles, home appliances, power, biotechnology etc.

(2.) At 18.4%, Pallonji was the highest individual shareholder in Tata Sons. His son, Cyrus, headed Tata Sons from November 2011 to October 2016. Cyrus, after his removal from the post, fought a legal battle with Ratan Tata, the-then chairman of Tata Sons.

(3).) At the time of receiving India’s third-highest civilian award, the Padma Bhushan (in January 2016), the late businessman had been an Irish citizen for 13 years. In 2003, he gave up his Indian citizenship, and became a citizen of Ireland.

(4.) In April 2021, the Bloomberg Billionaires Index estimated Pallonji Mistry’s wealth to be USD 28 billion, making him the wealthiest person in Ireland.

(5.) A biography on him was released in 2008. The book was titled ‘The Moguls of Real Estate’, and was authored by Manoj Namburu.