Pallonji Mistry, ex-chairman of Shapoorji Pallonji Group passes away at the age of 93
Business tycoon Pallonji Mistry, the head of the Shapoorji Pallonji Group, passed away mid-sleep at the age of 93 in Mumbai on Monday night.
- Republic Business
- 2 min read
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Business tycoon Pallonji Mistry, the head of the Shapoorji Pallonji Group, passed away at the age of 93 in Mumbai on the intervening night of Monday and Tuesday night. Mistry was at his south Mumbai residence when he died mid-sleep last night, reported PTI citing his company officials.
Notably, the largest individual shareholder in the Tata Group with an 18.6% holding in the conglomerate, Pallonji Mistry headed the Shapoorji Pallonji Group till 2012 after which he announced his retirement. Though during his tenure, he took the company to new heights and is often credited for its success.
One of the richest Irish people, the Indian-born Irish tycoon, Mistry had a net worth of over USD 13 billion further ranking at 143rd number worldwide, stated Forbes' latest data. While he was born in India, Mistry later gave up his Indian citizenship to become an Irish citizen.
Pallonji Mistry's career
Born in Gujarat, Pallonji Mistry headed the Shapoorji Pallonji Group through which he also owned Shapoorji Pallonji Construction Limited, Forbes Textiles, and Eureka Forbes Limited. In addition to that, he was also the former chairman of Associated Cement Companies.
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Later in 2012, he retired from his position following which his son Shapoor Mistry took over the chairmanship of the group. Notably, Mistry was also honoured with India's third-highest civilian award, Padma Bhushan in 2016 for his excellent contribution in the field of business.