Pallonji Shapoorji Mistry
|Born||1929 (age 89–90)|
|Residence||Malabar Hill, South Mumbai, India|
|Citizenship||Irish (previously Indian)|
|Alma mater||Cathedral & John Connon School |
Imperial College London
|Occupation||Chairman of Shapoorji Pallonji Group |
18.4% stake in Tata Sons
|Net worth||US$18.7 billion (January 2018)|
|Spouse(s)||Patsy Perin Dubash|
|Children||4, including Cyrus Mistry|
|Relatives||Noel Tata (son-in-law)|
Pallonji Shapoorji Mistry (born 1929) is an Indian billionaire construction tycoon and chairman of Shapoorji Pallonji Group who is an Irish citizen since 2003. According to Forbes, his wealth is estimated to be US$20.1 billion as of January 2019. With his 18.3% stake in Tata Sons, he is the largest individual shareholder in India's largest private conglomerate, Tata Group, the primary shareholder of which is the Tata philanthropic Allied Trusts, with 66 per cent controlling interest.
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.
His father first bought shares in Tata Sons in the 1930s, a stake that currently stands at 18.4%, making Mistry the largest individual shareholder in Tata Sons, which is primarily controlled by the charitable Tata Trusts.
Pallonji Mistry 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.
His son, Cyrus, was chairman of Tata Sons from November 2011 to October 2016. 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.
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.
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. He remains in residence in Mumbai. The family's interest in Ireland is ascribed, in part, to their love of horses; Mistry owns a 200 acres (0.81 km2) stud farm and a 10,000-square-foot (930 m2) home in Pune, India.
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