Net Worth
Pallonji Mistry Net Worth
What is Pallonji Mistry’s net worth?
| Net Worth: | $19 Billion |
|---|---|
| Age: | 92 |
| Born: | 1929 |
| Country of Origin: | India |
| Source of Wealth: | Tycoon |
| Last Updated: | 2021 |
Introduction
Pallonji Mistry is an Indian-born Irish billionaire construction tycoon.
Mistry is the chairman of Shapoorji Pallonji Group, which is the richest Irish person. He is the largest individual shareholder in India’s largest private conglomerate, Tata Group.
He is the primary shareholder of which is the Tata philanthropic Allied Trusts, with 66 percent controlling interest.
As of 2022, Pallonji Mistry’s net worth is estimated to be roughly $19 billion.
Early Life
Pallonji Shapoorji Mistry was born to a Parsi family from Gujarat.
Mistry was educated at the Cathedral & John Connon School, followed by Imperial College London.
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, and more.
Career
Mistry’s father first bought shares in Tata Sons in the 1930s, a stake that currently stands at 18.9%, making Mistry the largest individual shareholder in Tata Sons, which is primarily controlled by the charitable Tata Trusts.
In 2003, Mistry gave up his Indian citizenship to become an Irish citizen based on his marriage to an Irish-born national”, Pat “Patsy” Perin Dubash.
Today, Pallonji 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 2011 to 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.
As of 2022, Pallonji Mistry’s net worth is estimated to be roughly $19 billion.
How Does Pallonji Mistry Spend His Money?
Pallonji Mistry spends some of his money on lavish cars.
Pallonji Mistry’s Cars
Some of Mistry’s most notable cars include a Range Rover and a Jaguar.
Highlights
Here are some of the best highlights of Pallonji Mistry’s career:
- Chairman of Shapoorji Pallonji Group
- He is the largest individual shareholder of Tata Group
Favorite Quotes From The Mistry Family
“We still wanted to ensure that the agenda was taken through. My agenda was of governance and ethics by staying on board of operating companies. We managed to raise awareness among stakeholders of the challenges in governance and ethics in the group.” – Cyrus Mistry
“These were actions one cannot expect from a promoter of that calibre. I had to take a decision to do what is right from the group perspective. It was important to be consistent, and I had mentioned in my shareholder representation that this is not for me.” – Cyrus Mistry
“My belief is that from here, the platform has to change to the legal side to ensure we protect the shareholders. The output is still the same – what we are ensuring is governance reform and ensuring the ethical values of the founder… I will continue to pursue that very vigorously. What we have seen in the last eight weeks as far as the EGMs are concerned.” – Cyrus Mistry
“What I have done is in the interests of the shareholders and independent directors. It was very clearly a situation where it was felt that Cyrus (Mistry) was pushing for EGMs and putting pressure on boards. But.. I did not call for the EGMs.” – Cyrus Mistry
“Several shareholders, institutions, and others were abstaining from casting their vote. But they said they wanted reform within the Tata group which is effective.” – Cyrus Mistry
3 Life Lessons From The Mistry Family
Now that you know all about Pallonji Mistry’s net worth and how he achieved success; let’s take a look at some of the strongest lessons we can learn from him and his family:
1. Leadership Is A Political Process
Those who tell you to “be authentic” and “just do what your heart says” are ill-informed. Organizations are social engines where success depends on how effectively you can influence and manage those who matter.
2. Know When It’s Time To Bid Farewell
An individual’s future tenure does not depend on past successes but on how relevant they will be in the future.
3. Never Be Complacent
The point is that a company can be ruthless regardless of how well a leader has performed in the past. Like it or not, organizations are transactional in nature. An individual’s future tenure does not depend on past successes but on how relevant they will be in the future.
Summary
Pallonji Mistry is an Irish Indian billionaire who is the chairman of the Shapoorji Pallonji Group, a massive construction company responsible for most of the major buildings in Mumbai, including Hong Kong & Shanghai Bank and the Standard Chartered Bank.
As of 2022, Pallonji Mistry’s net worth is approximately $19 billion.
