Pallonji Mistry (Philanthropist) Biography, Wiki, Age, Career, Death, Cause of Death | Who was Pallonji Mistry? Bio, Wiki

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Who is Pallonji Mistry?

Pallonji Shapoorji Mistry (1 June 1929 – 28 June 2022) was an Indian-born Irish billionaire construction tycoon and chairman of Shapoorji Pallonji Group. 

According to Bloomberg Billionaires Index, his wealth was estimated to be US$28.0 billion as of 9 April 2021. With his 18.4% stake in Tata Sons, he was the largest individual shareholder in India’s largest private conglomerate, Tata Group, the primary shareholder being the charitable Tata Trusts. He was the richest Irish billionaire at the time of his death, and the world’s 143 richest person.

Low-profile billionaire philanthropist Pallonji Mistry passes away at 93

Low-profile billionaire philanthropist Pallonji Mistry passes away at 93
Low-profile billionaire philanthropist Pallonji Mistry passes away at 93

Billionaire philanthropist Pallonji Mistry died early today morning at his home. He was 93.

He passed away peacefully and is survived by his wife Patsy, daughters Laila Rustom Jehangir, Aloo Noel Tata, sons Shapoor Mistry and Cyrus Mistry.

Mistry, whose family has owned a sprawling construction business for over 150 years–the Shapoorji Pallonji Group and 18.4 percent stake in Tata Sons, is survived by his sons Shapoor and Cyrus and a daughter, Aloo. Mistry was ailing for a long time, group officials said.

Mistry always kept a low profile and was often known as the “phantom of Bombay House” for his indirect influence over the Tata Group affairs. Bombay House is the headquarters of the Tata group. Pallonji’s daughter Aloo is married to Noel Tata, half-brother of Ratan Tata.

Pallonji Mistry Career

Born in 1929, Pallonji Mistry completed his schooling in Mumbai’s Cathedral and John Cannon School. He later went to London’s Imperial College for higher education and started working at the age of 18 and later worked with his father to expand their company in the Middle East. It is pertinent to note that Mistry built the palace of the Sultan of Oman in 1976 as his first overseas project.

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. Founded in 1865, Mistry’s Shapoorji Pallonji Group functions across 50 countries.

Mistry later became the largest individual shareholder in the Tata Group, holding 18.4% shares in the conglomerate. He went on to accumulate a net worth of almost USD 29 billion, according to the Bloomberg Billionaires Index. Mistry, who became one of the oldest billionaires in India, received the Padma Bhushan in 2016 for his contribution as an industrialist.

Mistry surrendered his Indian nationality in 2003 and became an Irish citizen through marriage to Dublin-born Patsy Perin Dubash. In 2008, a biography on him titled ‘The Moguls of Real Estate’ authored by Manoj Namburu was released. Later in September 2020, the Mistrys decided to sell their Tata Sons’ stake. They said that a “separation of interests would best serve all stakeholder groups.”

Pallonji Mistry Biography, Wiki
Pallonji Mistry
Born1 June 1929
Died28 June 2022 (aged 93)
Mumbai, Maharashtra, India
NationalityIndian
CitizenshipIrish (previously Indian)
OccupationBusinessman
Known for17.3% stake in Tata Sons
TitleChairman, Shapoorji Pallonji Group
Spouse(s)Patsy Perin Dubash
Children4, including Cyrus Mistry
RelativesNoel Tata (son-in-law)

Pallonji Mistry Career

During Cyrus Mistry’s two decades at the helm of Shapoorji Pallonji & Co., the company continued its expansion beyond traditional construction to large engineering projects, including the building of power plants and factories.

The company also continued to grow overseas, undertaking more projects in the Middle East and Africa. In 2006 Pallonji Mistry retired from the board of the Tata Group, and the 38-year-old Cyrus Mistry took his place. Pallonji Mistry was the single largest shareholder of the conglomerate, and his son was named director of several Tata companies in addition to his duties with the Shapoorji Pallonji Group.

In November 2011 Cyrus Mistry was made deputy chairman of the Tata Group, with the explicit goal of taking over as chairman one year later, upon the retirement of Ratan Tata, who had headed the group since 1991.

Cyrus Mistry was hailed in much of the Indian news media as the first non-Indian and only the second non-Tata to lead the Tata Group, but in fact, he was thoroughly immersed in Mumbai society and was closely connected by marriage to the Tatas.

He held an Irish passport on account of his mother, an Irish citizen of Indian extraction whose brother was an Indian shipping magnate and whose sister was married to a cousin of Pallonji Mistry. One of Cyrus Mistry’s sisters married Noel Tata, Ratan Tata’s half brother and a prominent executive in the Tata Group.

In 1992 Cyrus Mistry married a daughter of Iqbal Chagla, one of India’s most prominent lawyers, and their sons began their education as their father had, in Mumbai.

Pallonji Mistry Personal Life

In 2003, Pallonji gave up his Indian citizenship to become an Irish 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 in Dublin. 

He remained in residence in Mumbai. 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 in Pune, India.

Mistry has two sons and two daughters. His elder son, Shapoor Mistry (b. 1964), runs the Shapoorji Pallonji group, while his younger son, Cyrus Mistry, served for some years as chairman of the Tata group.

Mistry’s elder daughter is Laila and his younger daughter, Aloo, is married to Noel Tata, half-brother of Ratan Tata. Mistry died in Mumbai on 28 June 2022 at the age of 93.

He was awarded the Padma Bhushan in January 2016 by the Government of India for his contributions in the field of trade and industry.

A short biography of Mistry was written in a 2008 book by Manoj Namburu titled The Moguls of Real Estate.

He died on 28 June 2022, at the age of 93.

Pallonji Mistry FAQ’s

Who was Pallonji Mistry?

Pallonji Shapoorji Mistry (1 June 1929 – 28 June 2022) was an Indian-born Irish billionaire construction tycoon and chairman of Shapoorji Pallonji Group. 

How did Pallonji Mistry die?

He passed away peacefully and is survived by his wife Patsy, daughters Laila Rustom Jehangir, Aloo Noel Tata, sons Shapoor Mistry and Cyrus Mistry.

How old was Pallonji Mistry?

Pallonji Mistry died at 93.

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