Pallonji Shapoorji Mistry (born 1929) is an Irish Indian 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.
Personal life and wealth
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.[citation needed]
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 km2) stud farm in Pune, India. Mistry also owns a 10,000-square-foot (930 m2) home in Pune.
He has two sons and two daughters. One daughter, Aloo, is married to Noel Tata, the half-brother of Ratan Tata.
Pallonji Mistry is an Irish construction tycoon who has an estimated net worth of $19.7 billion as of July 2018. Born Pallonji Shapoorji Mistry in India, he became an Irish citizen in 2003 on the basis of his marriage to an Irish-born national and gave up his Indian citizenship. Mistry is the chairman of the Indian construction giant Shapoorji Pallonji Group that is responsible for building most of the major buildings in Mumbai such as the Hong Kong & Shanghai Bank, the Grindlays Bank, the Standard Chartered Bank, the State Bank of India, and the Reserve Bank of India. In June last year, he handed over the chairmanship of the group to his older son Shapoor. He is a horse racing enthusiast who owns a stud farm in Pune that Pallonji gave him as a birthday gift several years ago.
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