What is Pallonji Mistry’s Net Worth?
Introduction
Pallonji Mistry is an Irish Indian billionaire and chairman of Shapoorji Pallonji Group. This huge construction company has built most of Mumbai’s major buildings, including Hong Kong & Shanghai Bank, Standard Chartered Bank, and Standard Chartered Bank.
Tata philanthropic Allied Trusts is his primary shareholder, holding a 66 percent controlling share.
Pallonji Mistry’s net worth is approximately $19 billion as of June 2022.
Early Life
Pallonji Shapoorji Mistry was the child of a Parsi family in Gujarat.
Mistry received his education at the Cathedral & John Connon Schools, then at Imperial College London.
Shapoorji Pallonji is the Mistrys’ substantial construction company. Shapoorji Pallonji is the group patriarch. His father was the architect of some of Mumbai’s most iconic landmarks like the Hong Kong & Shanghai Bank, Grindlays Bank, and many more.
Career
Mistry’s father bought Tata Sons shares in 1930s. This stake currently stands at 18.9%. Mistry is the largest shareholder in Tata Sons which is primarily managed by the charitable Tata Trusts.
Mistry, who was born in India, gave up his Indian citizenship in 2003 to become an Irish citizen. This was based on his marriage with Pat Perin Dubash.
Pallonji is currently the chairman of Shapoorji Pallonji Group. Through this group, he also owns Forbes Textiles Limited, Shapoorji Pallonji Construction Limited, and Eureka Forbes Limited. Pallonji was the chairman of Associated Cement Companies.
From 2011 to 2016, his son Cyrus was the chairman of Tata Sons. He is also known as the Phantom Of Bombay House within the Tata Group for his quiet, but assertive way of governing the Tata headquarters in Mumbai.
Highlights
These are the top highlights from Pallonji Mistry’s career:
- Chairman of Shapoorji Pallonji Group
- He is the largest individual shareholder of Tata Group
Three Life Lessons From The Mistry Family
Now that you’re familiar with Pallonji Mistry and how he made it so successful, let’s look at the best lessons we can take from him and his family.
1. Leadership is a political process
People who tell you to be authentic and do what your heart desires are not well-informed. The success of organizations is dependent on your ability to influence and manage the people who matter.
2. Know when it’s time to say goodbye
The future tenure of an individual is not dependent on their past success but on their future relevance.
3. Never be complacent
It doesn’t matter how successful a leader was in the past, a company can be brutal regardless. Organizations are transactional, regardless of whether they like it or not. The future tenure of an individual does not depend on their past success, but how relevant they will be in future.
Favorite Quotes From The Mistry Family
“These were actions that one would not expect from a promoter with such a high level of integrity. I had to make the decision to do what was right for the group. It was crucial to be consistent. I had stated in my shareholder representation that this was not for me.”
“My belief is that the platform must be restructured to include legal aspects to protect shareholders. It is the same output. What we are doing is ensuring governance reform and the protection of ethical values for the founder… I will continue to pursue this very vigorously. What have we seen over the past eight weeks in terms of EGMs .”