Mumbai: Shapoorji Pallonji Group CEO Pallonji Mistry passed away at his residence here, company officials said on Tuesday.
Pallonji Mistry, age 93, holds an 18.4% stake in the company and is the largest individual stakeholder in the Tata Group. He died mid-sleep at his south Mumbai home on the intervening night of Monday and Tuesday, the officials said.
As of 9 April 2021, the Bloomberg Billionaires Index pegs his net worth at USD28.0 billion.
He was born in a Parsi family from Gujarat He owns a substantial construction company, Shapoorji Pallonji. The State Bank of India, Reserve Bank of India, Hong Kong & Shanghai Bank, Grindlays Bank, and Standard Chartered Bank buildings were all constructed by the group patriarch and Pallonji's father, Shapoorji, in the vicinity of the Fort.
For his achievements as an industrialist, he was given the Padma Bhushan in 2016, the third-highest civilian honour in the nation. He was one of the country's oldest billionaires. The business tycoon passed away Sunday night in Mumbai. He was born in a Parsi family in Gujarat.