Shapoorji Pallonji group chairman Pallonji Mistry dies at 93

Billionaire industrialist and Shapoorji Pallonji group chairman Pallonji Mistry has passed away at the age of 93. Known as the 'Phantom of Bombay House', he was honoured with one of India’s top civilian awards - the Padma Bhushan - in 2016 for his contribution in the field of industry and trade.
Pallonji_Mistry_1280x720.

Shapoorji Pallonji group chairman Pallonji Mistry dies at 93 (Picture courtesy: Twitter)

New Delhi: Billionaire industrialist and Shapoorji Pallonji group chairman Pallonji Mistry passed away last night at his Mumbai residence. He was 93. Mistry is survived by his wife — Patsy Perin Dubash, and four children — two sons Shapoor Mistry and Cyrus Mistry, and two daughters Laila Mistry and Aloo Mistry.
The largest individual shareholder in the Tata Group with an 18.4 per cent holding in the conglomerate, Mistry, ran the Mumbai-based Shapoorji Pallonji group, along with his family. The Shapoorji Pallonji group was set up in 1865 and works across segments like engineering and construction, infrastructure, real estate, water, energy and financial services.
Mistry joined the company in 1947 and led it's expansion into the Middle East, including Abu Dhabi, Qatar and Dubai, in 1970. It won a contract to build the Sultan of Oman’s palace in 1971 and many ministerial buildings there.
Prime Minister Narendra Modi condoled his demise. "Saddened by the passing away of Shri Pallonji Mistry. He made monumental contributions to the world of commerce and industry. My condolences to his family, friends and countless well-wishers. May his soul rest in peace," he tweeted.
Pallonji Mistry was born to a Parsi family in India. He later took up Irish citizenship through marriage in 2003.
In 2016, he was honoured with the Padma Bhushan, one of India’s top civilian awards, for his contribution in the field of industry and trade.
Mistry was known as the 'Phantom of Bombay House'.
Mistry's elder son, Shapoorji Mistry chairs the Shapoorji Pallonji And Company Pvt. Ltd. His younger son Cyrus Mistry was the chairman of Tata Sons from 2012 to 2016.
According to the Bloomberg Billionaires Index, Mistry is the 41st richest person in the world with a net worth of $28.9 billion. He is ranked above Azim Premji, who is placed at the 48th spot.
End of Article