Pallonji Mistry’s profile picture

Pallonji Mistry

Pallonji Mistry’s profile picture
Net worth 2018: $17.72 Billion
Residence: Mumbai, India
Country: Ireland
BirthDay: 1929
Children: 4
BIOGRAPHY

Pallonji Mistry was bornon 1929 in Mumbai, India, Ireland. Pallonji Mistry is #68 in List Billionaires People In The World. Reclusive tycoon Pallonji Mistry controls Mumbai-headquartered engineering and construction giant, 152-year-old Shapoorji Pallonji Group. The family's biggest asset is an 18.4% stake in Tata Sons, holding outfit of the $100 billion (revenue) Tata Group, a conglomerate of 100 companies. The S.P. Group, run by Mistry's older son Shapoor, also owns Eureka Forbes, the country's leading brand of water purifiers. Mistry's younger son Cyrus is embroiled in a legal battle with the Tata Group after he was suddenly ousted as chairman of Tata Sons in October 2016.

NET WORTH STATISTIC
2009

$2.5 Billion

2010

$5.8 Billion

2011

$8.8 Billion

2012

$9.7 Billion

2013

$10.5 Billion

2014

$12.8 Billion

2015

$16.3 Billion

2016

$12.5 Billion

2017

$14.3 Billion

2018

$17.72 Billion

TIMELINE
Pallonji Shapoorji Mistry (born 1929) is an Indian-born Irish construction tycoon and chairman of Shapoorji Pallonji Group. According to Forbes, his wealth is estimated to be US$16.9 billion as of September 2016. With his 18.4% stake in Tata Sons, he is the single largest shareholder in India's largest private conglomerate Tata Group. He is the chairman of the Shapoorji Pallonji Group through which he owns Shapoorji Pallonji Construction Limited, Forbes Textiles and Eureka Forbes Limited. He is the former chairman of Associated Cement Companies. Pallonji gave up his Indian citizenship in 2003 to obtain Irish nationality, because India does not yet allow dual nationality . His son Cyrus was chairman of Tata Sons from November 2011 to October 2016. A short biography of Mistry was written in a 2008 book by Manoj Namburu titled The Moguls of Real Estate. He was awarded the Padma Bhushan in January 2016 by the Government of India for his contributions in the field of trade and industry.Mistry's father first bought shares in Tata Sons in the 1930s, a stake that currently stands at 18.4%. Mistry is the largest single shareholder in Tata Sons, a firm mostly controlled by trusts. The Mistrys have a huge 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.He was educated at the Cathedral & John Connon School, followed by Imperial College London.Within the Tata Group he is known as the Phantom of Bombay House for the quiet but assured way he commands power around the Mumbai headquarters of the Tata empire.In 2003, he became an Irish citizen "on the basis of his marriage to an Irish-born national", Pat (Patsy) Perin Dubash, who was born in September 1939 in Hatch Street Nursing House in Dublin. He gave up his Indian citizenship as the Indian Government currently does not allow dual citizenship, though he remains resident in Mumbai. He owns a stake in the Taj Mahal Hotel. The family's interest in Ireland is compounded by their love of horses. They own a 200 acres (0.81 km) stud farm in Pune, India. Mistry also owns a 10,000-square-foot (930 m) home in Pune.He has two sons and two daughters. One daughter, Aloo, is married to Noel Tata, the half-brother of Ratan Tata.
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