Shapoorji Pallonji Group CEO Pallonji Mistry passed away at the age of 93. The Shapoorji Pallonji Group, which has been around for more than 150 years, is one of the biggest corporations in India, and its success is attributed to the reclusive billionaire Pallonji Mistry.
For his achievements as an industrialist, he was given the Padma Bhushan in 2016, the third-highest civilian honour in the nation. He was one of the country’s oldest billionaires. The business tycoon passed away Sunday night in Mumbai. He was born in a Parsi family in Gujarat.
He ranked 143rd in the world according to the most recent Forbes data, with a net worth of approximately USD 13 billion.
Construction behemoth Shapoorji Pallonji Group was founded in 1865 and operates in six different industries: engineering and construction, infrastructure, real estate, water, energy, and financial services. It is dispersed throughout 50 nations.
Shapoorji Mistry, Pallonji Mistry’s eldest son, serves as chairman of Shapoorji Pallonji And Company Pvt. Ltd.
Cyrus Mistry, his younger son, served as the Tata Sons’ chairman from 2012 to 2016. He was fired during a quarrel that turned into one of the most hotly anticipated corporate conflicts in recent years in India. Laila Mistry and Aloo Mistry, his two kids, are also left behind.
The businessman in construction known as Pallonji Mistry had obtained Irish citizenship. His family ended up being the largest shareholder in the enormous Tata Group.
Due to his commanding presence in boardrooms, he earned the moniker “Phantom of Bombay House.”
The Reserve Bank of India, the Citi Bank headquarters in India, the SAIL Steel Plant, and the Jawahar Lal Nehru Stadium in Delhi are just a few of the prominent structures that the Shapoorji Pallonji Group can proudly claim as their own.