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{{Short description|Indian-born Irish billionaire (1929–2022)}}
{{Short description|Indian-born Irish billionaire businessman (1929–2022)}}
{{Use dmy dates|date=June 2022}}
{{Use dmy dates|date=June 2022}}
{{Use Indian English|date=July 2016}}
{{Use Indian English|date=July 2016}}
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| name = Pallonji Shapoorji Mistry
| name = Pallonji Shapoorji Mistry
| image = Pallonji Mistry.jpg
| image = Pallonji Mistry.jpg
| image_size =
| caption = Mistry in 2016
| birth_date = {{Birth date|1929|6|1|df=y}}
| birth_date = {{Birth date|1929|6|1|df=y}}
| birth_place = [[Bombay]], [[Bombay Presidency]], [[British Raj]]
| birth_place = [[Bombay City]], [[Bombay Presidency]], India
| death_date = {{Death date and age|2022|6|28|1929|6|1|df=y}}
| death_date = {{Death date and age|2022|6|28|1929|6|1|df=y}}
| death_place = [[Mumbai]], [[Maharashtra]], India
| death_place = [[Mumbai]], [[Maharashtra]], India
| nationality = Indian
| nationality = Indian
| citizenship = [[Irish Citizenship|Irish]] (previously [[Indian citizenship|Indian]])<ref name="outlookindia1"/>
| citizenship = [[Irish Citizenship|Irish]] (previously [[Indian citizenship|Indian]])<ref name="outlookindia1"/>
| occupation = Businessman
| occupation = [[Businessman]]
| title = Chairman, [[Shapoorji Pallonji Group]]
| title = Chairman, [[Shapoorji Pallonji Group]]
| known for = 17.3% stake in [[Tata Sons]]
| known for = 17.3% stake in [[Tata Sons]]
Line 20: Line 20:
}}
}}


'''Pallonji Shapoorji Mistry''' (1 June 1929 – 28 June 2022) was an Indian-born Irish billionaire businessman. He was chairman of the [[Shapoorji Pallonji Group]] and a major shareholder of India's largest private conglomerate, [[Tata Group]].
'''Pallonji Shapoorji Mistry''' (1 June 1929 – 28 June 2022) was an Indian-born Irish [[billionaire]] construction tycoon and chairman of [[Shapoorji Pallonji Group]].<ref name=":1">{{Cite web |last=Bhasin |first=Swati |date=28 June 2022 |title=Business tycoon Pallonji Mistry, who headed Shapoorji Pallonji Group, dies at 93 |url=https://www.hindustantimes.com/india-news/business-tycoon-pallonji-mistry-who-headed-shapoorji-pallonji-group-dies-at-93-101656386125358.html |access-date=28 June 2022 |website=Hindustan Times |language=en}}</ref> 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]],<ref name="outlookindia1">{{cite web |last=Subramaniam |first=Kandula |date=22 January 2011 |title=The Phantom Player |url=http://business.outlookindia.com/article.aspx?270234 |url-status=dead |archive-url=https://web.archive.org/web/20110309151551/http://business.outlookindia.com/article.aspx?270234 |archive-date=9 March 2011 |access-date=23 February 2011 |publisher=Outlook Business India}}</ref> he was the largest individual shareholder in India's largest private conglomerate, [[Tata Group]], the primary shareholder being the charitable Tata Trusts.<ref>{{Cite web |last=Valdivia |first=Stephen |date=21 July 2017 |title=Meet Tata: India's Biggest Company |url=http://fortune.com/video/2017/07/21/tata-group-a-global-500-force/ |url-status=dead |archive-url=https://web.archive.org/web/20180821093822/http://fortune.com/video/2017/07/21/tata-group-a-global-500-force/ |archive-date=21 August 2018 |website=Fortune}}</ref> He was the [[List of Irish billionaires by net worth|richest Irish billionaire]] at the time of his death,<ref name=":2" /> and the world's 143 richest person.<ref name=":1" />


==Early life==
==Early life==
Pallonji Mistry was born to Shapoorji Mistry in [[Bombay]] on 1 June 1929.<ref>{{Cite news |last=Shrivastava |first=Bhuma |date=2022-06-28 |title=Pallonji Mistry, Indian Billionaire Caught in Tata Feud, Dies at 93 |language=en |agency=[[Bloomberg News]] |url=https://www.bloomberg.com/news/articles/2022-06-28/pallonji-mistry-indian-tycoon-caught-in-tata-feud-dies-at-93 |access-date=2022-06-28 |quote=Mistry was born on June 1, 1929, in Mumbai. His father, Shapoorji Mistry, worked for the family company, which the son joined in 1947.}}</ref> He was a member of [[Parsi]] community in [[Bombay]].<ref>{{Cite encyclopedia|title=Cyrus Mistry |url=https://www.britannica.com/biography/Cyrus-Mistry |access-date=2022-06-28 |encyclopedia=[[Encyclopædia Britannica]] |language=en |quote=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.}}</ref>
Pallonji Mistry was born to Shapoorji Mistry in Bombay (now Mumbai) on 1 June 1929.<ref>{{Cite news |last=Shrivastava |first=Bhuma |date=2022-06-28 |title=Pallonji Mistry, Indian Billionaire Caught in Tata Feud, Dies at 93 |language=en |agency=[[Bloomberg News]] |url=https://www.bloomberg.com/news/articles/2022-06-28/pallonji-mistry-indian-tycoon-caught-in-tata-feud-dies-at-93 |access-date=2022-06-28 |quote=Mistry was born on June 1, 1929, in Mumbai. His father, Shapoorji Mistry, worked for the family company, which the son joined in 1947.}}</ref> He was a member of [[Parsi]] community in Bombay.<ref>{{Cite encyclopedia|title=Cyrus Mistry |url=https://www.britannica.com/biography/Cyrus-Mistry |access-date=2022-06-28 |encyclopedia=[[Encyclopædia Britannica]] |language=en |quote=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.}}</ref>


The Mistry's own a substantial construction company, Shapoorji Pallonji. Shapoorji, the group patriarch and Pallonji's father, built some of [[Mumbai]]'s landmarks around the [[Fort (Mumbai precinct)|Fort area]]&nbsp;– the Hong Kong & Shanghai Bank, the [[Grindlays Bank]], the [[Standard Chartered Bank]], the [[State Bank of India]] and the [[Reserve Bank of India]] buildings.<ref name=":2">{{cite news |date=1 April 2010 |title=Pallonji Mistry is Ireland's richest person |work=[[Rediff.com]] |agency=PTI |url=http://business.rediff.com/report/2010/apr/01/pallonji-mistry-is-richest-person-in-ireland.htm |access-date=24 November 2011}}</ref>
The Mistrys own a substantial construction company, Shapoorji Pallonji. Shapoorji, the group patriarch and Pallonji's father, built some of Mumbai's landmarks around the [[Fort (Mumbai precinct)|Fort area]]&nbsp;– the Hong Kong & Shanghai Bank, the [[Grindlays Bank]], the [[Standard Chartered Bank]], the [[State Bank of India]] and the [[Reserve Bank of India]] buildings.<ref name=":2">{{cite news |date=1 April 2010 |title=Pallonji Mistry is Ireland's richest person |work=[[Rediff.com]] |agency=PTI |url=http://business.rediff.com/report/2010/apr/01/pallonji-mistry-is-richest-person-in-ireland.htm |access-date=24 November 2011}}</ref>


==Career==
==Career==
His father first bought shares in Tata Sons in the 1930s, a stake that currently stands at 18.4% which made Mistry the largest individual shareholder in Tata Sons, which is primarily controlled by the Tata philanthropic Allied Trusts.<ref name=forbes>{{cite web |url=https://www.forbes.com/profile/pallonji-mistry/|title = Forbes profile: Pallonji Mistry|work=Forbes.com |access-date=13 February 2020}}</ref><ref name="CNBC">{{cite news |date=23 November 2011 |title=Cyrus Mistry, a Tata in all but name |work=MoneyControl |publisher= |agency= |url=http://www.moneycontrol.com/news/business/cyrus-mistrytataallname_623245.html |access-date=24 November 2011}}</ref>
His father first bought shares in [[Tata Sons]] in the 1930s, a stake that as of 2011 stood at 18.4%, making Mistry the largest individual shareholder in Tata Sons,<ref name="outlookindia1">{{cite web |last=Subramaniam |first=Kandula |date=22 January 2011 |title=The Phantom Player |url=http://business.outlookindia.com/article.aspx?270234 |url-status=dead |archive-url=https://web.archive.org/web/20110309151551/http://business.outlookindia.com/article.aspx?270234 |archive-date=9 March 2011 |access-date=23 February 2011 |publisher=Outlook Business India}}</ref> which is primarily controlled by the Tata philanthropic Allied Trusts,<ref name=forbes>{{cite web |url=https://www.forbes.com/profile/pallonji-mistry/|title = Forbes profile: Pallonji Mistry|work=Forbes.com |access-date=13 February 2020}}</ref><ref name="CNBC">{{cite news |date=23 November 2011 |title=Cyrus Mistry, a Tata in all but name |work=MoneyControl |publisher= |agency= |url=http://www.moneycontrol.com/news/business/cyrus-mistrytataallname_623245.html |access-date=24 November 2011}}</ref> and the largest individual shareholder in India's largest private conglomerate, [[Tata Group]], the primary shareholder being the charitable Tata Trusts.<ref>{{Cite web |last=Valdivia |first=Stephen |date=21 July 2017 |title=Meet Tata: India's Biggest Company |url=http://fortune.com/video/2017/07/21/tata-group-a-global-500-force/ |url-status=dead |archive-url=https://web.archive.org/web/20180821093822/http://fortune.com/video/2017/07/21/tata-group-a-global-500-force/ |archive-date=21 August 2018 |website=Fortune}}</ref>


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]].
Pallonji Mistry was the chairman of the Shapoorji Pallonji Group,<ref name=":1">{{Cite web |last=Bhasin |first=Swati |date=28 June 2022 |title=Business tycoon Pallonji Mistry, who headed Shapoorji Pallonji Group, dies at 93 |url=https://www.hindustantimes.com/india-news/business-tycoon-pallonji-mistry-who-headed-shapoorji-pallonji-group-dies-at-93-101656386125358.html |access-date=28 June 2022 |website=Hindustan Times |language=en}}</ref> through which he owned Shapoorji Pallonji Construction Limited, Forbes Textiles and [[Eureka Forbes]] Limited.{{cn|date=July 2022}} He was the former chairman of [[Associated Cement Companies]].{{cn|date=July 2022}}


His son, [[Cyrus Pallonji Mistry|Cyrus]], was chairman of Tata Sons from November 2011 to October 2016.<ref>{{Cite web |date=24 October 2016 |title=Cyrus Mistry Removed As Chairman Of Tata Sons, Ratan Tata To Hold Interim Position |url=https://www.outlookindia.com/newswire/story/cyrus-mistry-removed-as-chairman-of-tata-sons-ratan-tata-to-hold-interim-position/959421 |url-status=dead |archive-url=https://web.archive.org/web/20161027010553/https://www.outlookindia.com/newswire/story/cyrus-mistry-removed-as-chairman-of-tata-sons-ratan-tata-to-hold-interim-position/959421 |archive-date=27 October 2016 |website=Outlook (India)}}</ref><ref>{{Cite web |date=23 November 2011 |title=Tata successor announced: Cyrus Mistry to take over from Ratan Tata in December 2012 |url=https://www.ndtv.com/india-news/tata-successor-announced-cyrus-mistry-to-take-over-from-ratan-tata-in-december-2012-570209 |access-date=28 June 2022 |website=NDTV}}</ref> Within the Tata Group he is known as the ''Phantom of Bombay House'' for the quiet but assured way he commanded power around the Mumbai headquarters of the Tata empire.<ref name="CNBC" />
His son, [[Cyrus Pallonji Mistry|Cyrus]], was chairman of Tata Sons from November 2011 to October 2016.<ref>{{Cite web |date=24 October 2016 |title=Cyrus Mistry Removed As Chairman Of Tata Sons, Ratan Tata To Hold Interim Position |url=https://www.outlookindia.com/newswire/story/cyrus-mistry-removed-as-chairman-of-tata-sons-ratan-tata-to-hold-interim-position/959421 |url-status=dead |archive-url=https://web.archive.org/web/20161027010553/https://www.outlookindia.com/newswire/story/cyrus-mistry-removed-as-chairman-of-tata-sons-ratan-tata-to-hold-interim-position/959421 |archive-date=27 October 2016 |website=Outlook (India)}}</ref><ref>{{Cite web |date=23 November 2011 |title=Tata successor announced: Cyrus Mistry to take over from Ratan Tata in December 2012 |url=https://www.ndtv.com/india-news/tata-successor-announced-cyrus-mistry-to-take-over-from-ratan-tata-in-december-2012-570209 |access-date=28 June 2022 |website=NDTV}}</ref> Within the Tata Group, he is known as the ''Phantom of Bombay House'' for the quiet but assured way he commanded power around the Mumbai headquarters of the Tata empire.<ref name="CNBC" />


Bloomberg estimated his worth to be about US$30 Billion in mid-2021.<ref name="Bloomberg">{{cite web |title=Bloomberg Billionaires Index: Pallonji Mistry |url=https://www.bloomberg.com/billionaires/profiles/pallonji-mistry/ |access-date=3 July 2021 |work=Bloomberg L.P}}</ref>
According to ''[[Bloomberg Billionaires Index]]'', Pallonji Mistry's wealth was estimated to be about US$30 Billion in mid-2021.<ref name="Bloomberg">{{cite news |title=Bloomberg Billionaires Index: Pallonji Mistry |url=https://www.bloomberg.com/billionaires/profiles/pallonji-mistry/ |access-date=3 July 2021 |work=Bloomberg L.P}}</ref> and US$29 billion at the time of his death. He was the [[List of Irish billionaires by net worth|richest Irish billionaire]] at the time of his death,<ref name=":2" /> and the world's 143 richest person.<ref name=":1" />


⚫
==Personal life and death==
[[File:The President, Shri Pranab Mukherjee presenting the Padma Bhushan Award to Shri Pallonji Shapoorji Mistry, at a Civil Investiture Ceremony, at Rashtrapati Bhavan, in New Delhi on March 28, 2016.jpg|thumb|President of India [[Pranab Mukherjee]] (right) presenting the [[Padma Bhushan|Padma Bhushan Award]] to Mistry, 2016<ref name=":3">{{Cite web |last= |first= |date=26 January 2016 |title=A much-deserved Padma for Pallonji Mistry |url=https://www.rediff.com/business/report/a-much-deserved-padma-for-pallonji-mistry/20160126.htm |access-date=28 June 2022 |website=Rediff |language=en}}</ref>|230x230px]]
[[File:The President, Shri Pranab Mukherjee presenting the Padma Bhushan Award to Shri Pallonji Shapoorji Mistry, at a Civil Investiture Ceremony, at Rashtrapati Bhavan, in New Delhi on March 28, 2016.jpg|thumb|President of India [[Pranab Mukherjee]] (right) presenting the [[Padma Bhushan|Padma Bhushan Award]] to Mistry, 2016<ref name=":3">{{Cite web |last= |first= |date=26 January 2016 |title=A much-deserved Padma for Pallonji Mistry |url=https://www.rediff.com/business/report/a-much-deserved-padma-for-pallonji-mistry/20160126.htm |access-date=28 June 2022 |website=Rediff |language=en}}</ref>|230x230px]]
⚫
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]].<ref>{{cite news |title= Ireland's Rich List 1–10| url=http://www.independent.ie/business/rich-list/irelands-rich-list-110-2116314.html |newspaper=[[Irish Independent]] |date=31 March 2010 |access-date=5 October 2011}}</ref> He remained in residence in Mumbai. The family's interest in Ireland is ascribed, in part, to their love of horses; Mistry owned a {{convert|200|acre|km2}} stud farm and a {{convert|10000|sqft|m2|adj=on}} home in [[Pune]], India.<ref>{{cite news |author=Mehta |first=Sunanda |last2=Chatterjee |first2=Dev |date=29 August 2004 |title=Mistry millionaires |newspaper=Indian Express |url=http://www.indianexpress.com/oldStory/54077 |access-date=5 October 2011}}</ref>


⚫
==Personal life and death==
⚫
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]].<ref>{{Cite news |last=Munroe |first=Tony |last2=Mehra |first2=Prashant |date=23 November 2011 |title=Global search for Tata chairman ends close to home |work=Reuters |url=https://www.reuters.com/article/india-tata-chairman-idUSL4E7MN1W220111123 |access-date=28 June 2022}}</ref><ref>{{cite news|url=https://economictimes.indiatimes.com/news/company/corporate-trends/how-next-gen-scions-leah-maya-and-neville-are-working-their-way-up-in-tata-group-companies/articleshow/56696002.cms|title=How next gen scions Leah, Maya and Neville are working their way up in Tata Group companies|first1=Kala|last1=Vijayraghavan|first2=Megha|last2=Mandavia|date=26 August 2018|access-date=26 August 2018|newspaper=The Economic Times}}</ref> Mistry died in [[Mumbai]] on 28 June 2022 at the age of 93.<ref>{{Cite news |title=SP Group's Pallonji Mistry dies at 93 |agency=[[Press Trust of India]]|url=http://www.ptinews.com/news/13482161_SP-Group-s-Pallonji-Mistry-dies-at-93.html |access-date=28 June 2022}}</ref><ref>{{Cite news |date=28 June 2022 |title=Pallonji Mistry, the billionaire caught in Tata feud, dies at 93 |work=The Economic Times |url=https://economictimes.indiatimes.com/news/india/groups-pallonji-mistry-dies-at-93/articleshow/92509021.cms?from=mdr |access-date=28 June 2022}}</ref>
⚫
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]].<ref>{{cite news |title= Ireland's Rich List 1–10| url=http://www.independent.ie/business/rich-list/irelands-rich-list-110-2116314.html |newspaper=[[Irish Independent]] |date=31 March 2010 |access-date=5 October 2011}}</ref> He remained in residence in [[Mumbai]]. The family's interest in Ireland is ascribed, in part, to their love of horses; Mistry owned a {{convert|200|acre|km2}} stud farm and a {{convert|10000|sqft|m2|adj=on}} home in [[Pune]], India.<ref>{{cite news |author=Mehta |first=Sunanda |last2=Chatterjee |first2=Dev |date=29 August 2004 |title=Mistry millionaires |newspaper=Indian Express |url=http://www.indianexpress.com/oldStory/54077 |access-date=5 October 2011}}</ref>

⚫
Mistry has two sons and two daughters. His elder son, [[Shapoor Mistry]] (b. 1964), runs the Shapoorji Pallonji group, while his younger son, the late [[Cyrus Mistry]] (1968—2022), served for some years as chairman of the [[Tata group]]. Mistry's elder daughter is Laila. His younger daughter, Aloo, is married to [[Noel Tata]], half-brother of [[Ratan Tata]].<ref>{{Cite news |last1=Munroe |first1=Tony |last2=Mehra |first2=Prashant |date=23 November 2011 |title=Global search for Tata chairman ends close to home |work=Reuters |url=https://www.reuters.com/article/india-tata-chairman-idUSL4E7MN1W220111123 |access-date=28 June 2022}}</ref><ref>{{cite news|url=https://economictimes.indiatimes.com/news/company/corporate-trends/how-next-gen-scions-leah-maya-and-neville-are-working-their-way-up-in-tata-group-companies/articleshow/56696002.cms|title=How next gen scions Leah, Maya and Neville are working their way up in Tata Group companies|first1=Kala|last1=Vijayraghavan|first2=Megha|last2=Mandavia|date=26 August 2018|access-date=26 August 2018|newspaper=The Economic Times}}</ref>


He was awarded the [[Padma Bhushan]] in January 2016 by the Government of India for his contributions in the field of trade and industry.<ref name=":3" />
He was awarded the [[Padma Bhushan]] in January 2016 by the Government of India for his contributions in the field of trade and industry.<ref name=":3" />


A short biography of Mistry was written in a 2008 book by Manoj Namburu titled ''The Moguls of Real Estate''.<ref>{{cite news |date=15 March 2008 |title=Property Plus Bangalore : Absorbing tales of tycoons |work=[[The Hindu]] |location=Chennai, India |url=http://www.hindu.com/pp/2008/03/15/stories/2008031550760300.htm |url-status=dead |access-date=23 February 2011 |archive-url=https://web.archive.org/web/20080318180302/http://www.hindu.com/pp/2008/03/15/stories/2008031550760300.htm |archive-date=18 March 2008}}</ref>
A short biography of Mistry was written in a 2008 book by Manoj Namburu titled ''The Moguls of Real Estate''.<ref>{{cite news |date=15 March 2008 |title=Property Plus Bangalore : Absorbing tales of tycoons |work=[[The Hindu]] |location=Chennai, India |url=http://www.hindu.com/pp/2008/03/15/stories/2008031550760300.htm |url-status=dead |access-date=23 February 2011 |archive-url=https://web.archive.org/web/20080318180302/http://www.hindu.com/pp/2008/03/15/stories/2008031550760300.htm |archive-date=18 March 2008}}</ref>

Mistry died in Mumbai on 28 June 2022 at the age of 93.<ref>{{Cite news |title=SP Group's Pallonji Mistry dies at 93 |agency=[[Press Trust of India]]|url=http://www.ptinews.com/news/13482161_SP-Group-s-Pallonji-Mistry-dies-at-93.html |access-date=28 June 2022}}</ref><ref>{{Cite news |date=28 June 2022 |title=Pallonji Mistry, the billionaire caught in Tata feud, dies at 93 |work=The Economic Times |url=https://economictimes.indiatimes.com/news/india/groups-pallonji-mistry-dies-at-93/articleshow/92509021.cms?from=mdr |access-date=28 June 2022}}</ref>


==References==
==References==
Line 50: Line 53:


==Further reading==
==Further reading==
* [https://web.archive.org/web/20100205064010/http://www.tatacentralarchives.com/history/family_tree/family_tree.pdf A section of the Tata family Tree]
* [https://web.archive.org/web/20100205064010/http://www.tatacentralarchives.com/history/family_tree/family_tree.pdf A section of the Tata family Tree] (archived; PDF)
* [https://web.archive.org/web/20061127153717/http://www.tata.com/tata_sons/media/20041207.htm Information about holding by Pallonji in Tata sons]
* [https://web.archive.org/web/20061127153717/http://www.tata.com/tata_sons/media/20041207.htm Information about holding by Pallonji in Tata sons] (archived)


{{PadmaBhushanAwardRecipients 2010–19}}
{{PadmaBhushanAwardRecipients 2010–19}}
Line 71: Line 74:
[[Category:Mistry family|Pallonji]]
[[Category:Mistry family|Pallonji]]
[[Category:Shapoorji Pallonji Group]]
[[Category:Shapoorji Pallonji Group]]
[[Category:Gujarati businesspeople]]
[[Category:Businesspeople from Gujarat]]
[[Category:People with Overseas Citizenship of India]]

Latest revision as of 09:12, 15 November 2024

Pallonji Shapoorji Mistry
Mistry in 2016
Born(1929-06-01)1 June 1929
Bombay City, Bombay Presidency, India
Died28 June 2022(2022-06-28) (aged 93)
Mumbai, Maharashtra, India
NationalityIndian
CitizenshipIrish (previously Indian)[1]
OccupationBusinessman
Known for17.3% stake in Tata Sons
TitleChairman, Shapoorji Pallonji Group
SpousePatsy Perin Dubash
Children4, including Cyrus Mistry
RelativesNoel Tata (son-in-law)

Pallonji Shapoorji Mistry (1 June 1929 – 28 June 2022) was an Indian-born Irish billionaire businessman. He was chairman of the Shapoorji Pallonji Group and a major shareholder of India's largest private conglomerate, Tata Group.

Early life

[edit]

Pallonji Mistry was born to Shapoorji Mistry in Bombay (now Mumbai) on 1 June 1929.[2] He was a member of Parsi 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 the Fort area – the Hong Kong & Shanghai Bank, the Grindlays Bank, the Standard Chartered Bank, the State Bank of India and the Reserve Bank of India buildings.[4]

Career

[edit]

His father first bought shares in Tata 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 and Eureka Forbes Limited.[citation needed] He was the former chairman of Associated 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 the Phantom of Bombay House for the quiet but assured way he commanded power around the Mumbai headquarters of the Tata empire.[6]

According to Bloomberg 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 the richest Irish billionaire at the time of his death,[4] and the world's 143 richest person.[8]

President of India Pranab Mukherjee (right) presenting the Padma Bhushan Award to Mistry, 2016[12]

Personal life and death

[edit]

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.[13] 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.[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 late Cyrus Mistry (1968—2022), served for some years as chairman of the Tata group. Mistry's elder daughter is Laila. His younger daughter, Aloo, is married to Noel Tata, half-brother of Ratan Tata.[15][16]

He was awarded the Padma 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 titled The Moguls of Real Estate.[17]

Mistry died in Mumbai on 28 June 2022 at the age of 93.[18][19]

References

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  1. ^ a b Subramaniam, Kandula (22 January 2011). "The Phantom Player". Outlook Business India. Archived from the original on 9 March 2011. Retrieved 23 February 2011.
  2. ^ Shrivastava, Bhuma (28 June 2022). "Pallonji Mistry, Indian Billionaire Caught in Tata Feud, Dies at 93". Bloomberg News. Retrieved 28 June 2022. Mistry was born on June 1, 1929, in Mumbai. His father, Shapoorji Mistry, worked for the family company, which the son joined in 1947.
  3. ^ "Cyrus Mistry". Encyclopædia Britannica. Retrieved 28 June 2022. 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.
  4. ^ a b "Pallonji Mistry is Ireland's richest person". Rediff.com. PTI. 1 April 2010. Retrieved 24 November 2011.
  5. ^ "Forbes profile: Pallonji Mistry". Forbes.com. Retrieved 13 February 2020.
  6. ^ a b "Cyrus Mistry, a Tata in all but name". MoneyControl. 23 November 2011. Retrieved 24 November 2011.
  7. ^ Valdivia, Stephen (21 July 2017). "Meet Tata: India's Biggest Company". Fortune. Archived from the original on 21 August 2018.
  8. ^ a b Bhasin, Swati (28 June 2022). "Business tycoon Pallonji Mistry, who headed Shapoorji Pallonji Group, dies at 93". Hindustan Times. Retrieved 28 June 2022.
  9. ^ "Cyrus Mistry Removed As Chairman Of Tata Sons, Ratan Tata To Hold Interim Position". Outlook (India). 24 October 2016. Archived from the original on 27 October 2016.
  10. ^ "Tata successor announced: Cyrus Mistry to take over from Ratan Tata in December 2012". NDTV. 23 November 2011. Retrieved 28 June 2022.
  11. ^ "Bloomberg Billionaires Index: Pallonji Mistry". Bloomberg L.P. Retrieved 3 July 2021.
  12. ^ a b "A much-deserved Padma for Pallonji Mistry". Rediff. 26 January 2016. Retrieved 28 June 2022.
  13. ^ "Ireland's Rich List 1–10". Irish Independent. 31 March 2010. Retrieved 5 October 2011.
  14. ^ Mehta, Sunanda; Chatterjee, Dev (29 August 2004). "Mistry millionaires". Indian Express. Retrieved 5 October 2011.
  15. ^ Munroe, Tony; Mehra, Prashant (23 November 2011). "Global search for Tata chairman ends close to home". Reuters. Retrieved 28 June 2022.
  16. ^ Vijayraghavan, Kala; Mandavia, Megha (26 August 2018). "How next gen scions Leah, Maya and Neville are working their way up in Tata Group companies". The Economic Times. Retrieved 26 August 2018.
  17. ^ "Property Plus Bangalore : Absorbing tales of tycoons". The Hindu. Chennai, India. 15 March 2008. Archived from the original on 18 March 2008. Retrieved 23 February 2011.
  18. ^ "SP Group's Pallonji Mistry dies at 93". Press Trust of India. Retrieved 28 June 2022.
  19. ^ "Pallonji Mistry, the billionaire caught in Tata feud, dies at 93". The Economic Times. 28 June 2022. Retrieved 28 June 2022.

Further reading

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