Pallonji Shapoorji Mistry | |
|---|---|
 Mistry in 2016 | |
| Born | (1929-06-01)1 June 1929 |
| Died | 28 June 2022(2022-06-28) (aged 93) Mumbai, Maharashtra, India |
| Citizenship | Ireland[1] |
| Occupation | Businessman |
| Known for | 17.3% stake inTata Sons |
| Title | Chairman,Shapoorji Pallonji Group |
| Spouse | Patsy Perin Dubash |
| Children | 4, includingCyrus |
| Relatives | Noel Tata (son-in-law) |
Pallonji Shapoorji Mistry (1 June 1929 – 28 June 2022) was an Indian-born Irish businessman. He was chairman of theShapoorji Pallonji Group and a major shareholder of India's largest private conglomerate,Tata Group.
Pallonji Mistry was born to Shapoorji Mistry in Bombay (now Mumbai) on 1 June 1929.[2] He was a member ofParsi community in Bombay.[3]
The Mistrys own a substantial construction company, Shapoorji Pallonji. Shapoorji, the group patriarch and Pallonji's father, built some of Mumbai's landmarks around theFort area – the Hong Kong & Shanghai Bank, theGrindlays Bank, theStandard Chartered Bank, theState Bank of India and theReserve Bank of India buildings.[4]
His father first bought shares inTata Sons in the 1930s, a stake that as of 2011 stood at 18.4%, making Mistry the largest individual shareholder in Tata Sons,[1] which is primarily controlled by the Tata philanthropic Allied Trusts,[5][6] and the largest individual shareholder in India's largest private conglomerate,Tata Group, the primary shareholder being the charitable Tata Trusts.[7]
Pallonji Mistry was the chairman of the Shapoorji Pallonji Group,[8] through which he owned Shapoorji Pallonji Construction Limited, Forbes Textiles andEureka Forbes Limited.[citation needed] He was the former chairman ofAssociated Cement Companies.[citation needed]
His son,Cyrus, was chairman of Tata Sons from November 2011 to October 2016.[9][10] Within the Tata Group, he is known as thePhantom of Bombay House for the quiet but assured way he commanded power around the Mumbai headquarters of the Tata empire.[6]
According toBloomberg Billionaires Index, Pallonji Mistry's wealth was estimated to be about US$30 Billion in mid-2021.[11] and US$29 billion at the time of his death. He was therichest Irish billionaire at the time of his death,[4] and the world's 143 richest person.[8]
In 2003, Pallonji gave up hisIndian citizenship to become anIrish citizen "on the basis of his marriage to an Irish-born national", Pat "Patsy" Perin Dubash, who was born in September 1939 at Hatch Street Nursing House inDublin.[13] He remained in residence inMumbai. The family's interest in Ireland is ascribed, in part, to their love of horses; Mistry owned a 200 acres (0.81 km2) stud farm and a 10,000-square-foot (930 m2) home inPune, India.[14]
Mistry has two sons and two daughters. His elder son,Shapoor Mistry (b. 1964), runs the Shapoorji Pallonji group, while his younger son, the lateCyrus Mistry (1968—2022), served for some years as chairman of theTata group. Mistry's elder daughter is Laila. His younger daughter, Aloo, is married toNoel Tata, half-brother ofRatan Tata.[15][16]
He was awarded thePadma Bhushan in January 2016 by the Government of India for his contributions in the field of trade and industry.[12]
A short biography of Mistry was written in a 2008 book by Manoj Namburu titledThe Moguls of Real Estate.[17]
Mistry died in Mumbai on 28 June 2022 at the age of 93.[18][19]
Mistry was born on June 1, 1929, in Mumbai. His father, Shapoorji Mistry, worked for the family company, which the son joined in 1947.
The Mistrys were members of Mumbai's Parsi community, followers of the Zoroastrian religion who had grown prosperous as merchants and industrialists since the earliest colonial times.
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