Pallonji Mistry Net Worth, Biography, Career and Achievements

Pallonji Mistry Net Worth  $19 billion

Mr. Pallonji Mistry is a well-known Indian-born Irish billionaire who makes his wealth from his lucrative profession as a construction tycoon. As of this writing, Mistry is the serving chairman of Shapoorji Pallonji Group.

Not only is he considered the richest Irish person, but also, he is known to be the largest individual shareholder in the Tata Group which is India’s largest private conglomerate.

Mistry is also the primary shareholder of the Tata philanthropic Allied Trusts, currently managing a 66 percent controlling interest. This multi-billionaire entrepreneur is the main topic of our focus today. Read on for more details.

Early Life: Childhood, Education

He was born Pallonji Shapoorji Mistry to a Parsi family from Gujarat. Not so much has been made public regarding his family, but we’re aware that he was brought up in a well-off environment.

He was educated at the Cathedral & John Connon School, after which he attended Imperial College London. His family is known to own a substantial construction company in India called Shapoorji Pallonji.

Shapoorji, the group patriarch and Mistry’s father, built some of the top landmarks around the Fort area in Mumbai – the Hong Kong & Shanghai Bank, the Grindlays Bank, and many others.

Professional Life: Entrepreneurial Career

Pallonji Mistry’s father first bought stocks in Tata Sons during the 1930s, an investment that currently stands at 18.9%, making Pallonji the largest individual stockholder in Tata Sons, which is mainly controlled by the charitable Tata Trusts.

In 2003, Mistry gave up his Indian citizenship. This was done in order to become an Irish citizen based on his matrimonial union to an Irish-born national, Pat “Patsy” Perin Dubash.

Mr. Mistry, today, is the chairman of the Shapoorji Pallonji Group. Through the Shapoorji Pallonji Group, Mistry owns Forbes Textiles, Shapoorji Pallonji Construction Limited, and Eureka Forbes Limited.

He is also the former chairman of Associated Cement Companies. His son, Cyrus, once served as the chairman of Tata Sons as well. Within the Tata Group, Mistry is known as the Phantom of Bombay House for the gentle but assured way he commands power within the Mumbai headquarters of the Tata Empire.

Achievements: Awards & Honors

Mistry’s contributions in the field of trade and industry earned him the Padma Bhushan award in January 2016 presented by the Government of India at a Civil Investiture Ceremony, at Rashtrapati Bhavan, in New Delhi on March 28, 2016.

In a 2008 book by Manoj Namburu, a short biography of Mistry was penned in respect of his accomplishments. The book is titled “The Moguls of Real Estate”.

Personal Life: Wife, Children, Residence, Private Interests

In 2003, the businessman relinquished his Indian citizenship to become an Irish citizen because of his marriage to an Irish national named Pat Perin Dubash who was born at Hatch Street Nursing House in Dublin in September 1939. However, he remains in residence in Mumbai.

Mistry has two daughters and two sons. His elder son, Shapoor Mistry, currently oversees the Shapoorji Pallonji group, while his other son, Cyrus Mistry, spent some years serving as chairman of the Tata group. Mistry’s elder daughter is named Laila.

His younger daughter, named Aloo, is married to Noel Tata, a half-brother of Indian tycoon Ratan Tata. The Mistry family’s interest in Ireland is attributed, in part, to their affection for horses. Mistry owns a 200 acres stud farm and a 10,000-square-foot home in Pune, India.

Pallonji Mistry Net Worth: Salary, Income Sources, Assets

Pallonji Mistry is a billionaire businessman who currently has a net worth of 19 billion dollars. As it stands, his wealth makes him the wealthiest person in Ireland. Born and raised in India, Mr. Mistry became a citizen of Ireland in the early 2000s based on his marriage to an Irish-born woman.

He made most of his wealth from his position as the chairman of the Shapoorji Pallonji Group, which is a massive construction company that is behind most of the major buildings in Mumbai. The group has been responsible for buildings like the Hong Kong and Shanghai Bank and also the Standard Chartered Bank.

A significant portion of Mr. Pallonji Mistry’s wealth comes from his 18.5 percent stake in Tata Sons, the holding firm that oversees the Tata Group, a multinational establishment with interests in the automotive, property development, hotel, steel, financial, and telecommunications industries.

The company currently owns and manages businesses in over 80 countries, including Jaguar, Tetley Tea, and Land Rover, and has also partnered with the American brand Starbucks in order to launch coffee shops in India.

The companies that make up the Tata group include Trent, Indian Hotels, Voltas, Tata Investment, Tata Teleservice, Tata Global Beverage, Tata Elxsi, Tata Chemicals, Tata Steel, Tata Power, Tata Communications, and Tata Motors, so there are no questions regarding how Pallonji Mistry earned his billionaire status.