One of India’s oldest billionaires, Pallonji Shapoorji Mistry was an Indian-Irish construction tycoon and the chairman of an Indian conglomerate company, headquartered in Mumbai – Shapoorji Pallonji Group. His company started more than 150 years ago and today, it employs more than 50,000 people in over 50 countries. Its significant projects are the Oberoi Hotel in Mumbai, the Reserve Bank of India, and the blue-and-gold Al Alam Palace for the Sultan of Oman.
On 28 June, he passed away at the age of 93, in Mumbai. The spokesperson of his company confirmed the death after the news started spreading on social media.
Pallonji Shapoorji Mistry-Early Life
Pallonji Mistry was born on 1 June 1929 in Bombay. His father was Sapoorji Mistry. Pallonji was a member of the Parsi community in Bombay. His nationality was Indian, but later he became an Irish citizen.
Pallonji Shapoorji Mistry-Personal Life
He was married to an Irish-born national, Patsy Perin Dubash (born in September 1939 in Dublin). On the basis of his marriage, Pallonji gave up his Indian citizenship in 2003 to become an Irish citizen. Pallonji and Pasty have two daughters (Laila and Aloo) and two sons (Shapoor and Cyrus).
His elder son Shapoor Mistry runs the Shapporji Pallonji Group and his younger son Cyrus Mistry was the chairman of the Tata group from November 2011 to October 2016. His younger daughter Aloo is married to Noel Tata, half-brother of Ratan Tata.
In January 2016, Pallonji was awarded the Padma Bhushan, the country’s third-highest civilian award, by the Government of India for his contributions in the field of trade and industry.
The Moguls of Real Estate is a short biography of Pallonji Mistry, which was written by Manoj Namburu in 2008.
Pallonji Shapoorji Mistry -Career
In 1930, Shapoorji Mistry bought a share in Tata Sons, which is primarily controlled by the Tata philanthropic Allied Trusts. He led the company’s expansion into the Middle East, including Abu Dhabi, Qatar, and Dubai, in 1970.
Pallonji Mistry was the chairman of the Shapoorji Pallonji Group through which he owned Shapoorji Pallonji Construction Limited, Forbes Textiles and Eureka Forbes Limited. He was the former chairman of Associated Cement Companies.
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.
He led the company’s expansion into the Middle East, including Abu Dhabi, Qatar, and Dubai, in 1970.