Thread by @stockifi_Invest

Mega-Thread on the Indian-born Irish Billionaire Construction Tycoon and chairman of Shapoorji Pallonji Group

Pallonji Mistry (Son of Shapoorji Mistry)

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1) Pallonji Mistry is an Indian-born Irish billionaire construction tycoon and chairman of Shapoorji Pallonji Group.

2) He was born in 1929 and belongs to a Parsi family from Gujarat.

3) Mr. Pallonji is the son of Great Shapoorji Mistry.

4) His father, Shapoorji has built some of Mumbai’s great landmarks around the Fort Area, The Hong Kong & Shanghai Bank, The Reserve Bank of India, the State Bank of India, etc.

5) The Mistry family business was founded in India in 1865 by Pallonji Mistry’s grandfather.

6) Pallonji Mistry’s grandfather started a construction business with an Englishman.

7) The initial project was Mumbai’s first reservoir near Malabar Hill.

8) The elder Mistry has been doing business with the Tata Group since the 1920s, even before Pallonji was born.

9) Both the Tata & Mistry families are Zoroastrians whose ancestors fled from Persia to India to escape religious persecution.

10) The business expanded by undertaking big construction projects.

11) Pallonji Mistry joined his father’s construction business in 1947, just when he turned 18.

12) He led the company’s expansion into Abu Dhabi, Qatar and Dubai.

13) By 1970, Shapoorji expanded projects in the Middle East. He even received the project of The Al Alam Palace by the Sultan of Oman which got completed in 1972.

14)Soon Pallonji Mistry got married to an Irish-born national Patsy Perin Dubash.

15) Since India does not allow dual nationality, Pallonji gave up his Indian citizenship to become an Irish citizen. But still, he remains a resident in Mumbai.

16) The family has a great interest in Ireland, the reason behind this is their love for horses.

17) Palloji even owns a stake in the Taj Mahal Hotel, Mumbai which was attacked by terrorists in 2008.

18) The Mumbai headquartered engineering and construction department of the 156-year-old Shapoorji Group is being handled by Pallonji.

19) The Mistry family is the biggest individual shareholder, holding a share of 18.4% in Tata sons, holding outfit of the $103 billion (revenue) of Tata Group, the conglomerate of 30 companies.

20) This stake has been first bought by Pallonji’s father, Shapoorji in the Tata Son’s in 1930 that currently stands for 18.4%.

21) Shapoorji had a great love for king Akbar, and that was the sole reason he financed the legendary Hindi Movie: Mughal-E-Azam.

22) This had been the most expensive movie in the Bollywood Industry and ran through decades.

23) Also he has been the former Chairman of Associated Cement Companies.

24)Pallonji has 4 children, two boys and two girls named Cyrus, Shapoor, Laila and Aloo.

25)Aloo has married Noel Tata, Ratan Tata’s half-brother.

26) Laila is married to Rustom Jehangir, a London-based portfolio Fund Manager.

27)Laila Mistry has a stake in Shapoorji Pallonji Group and currently holds Irish citizenship.

28) Later Laila shifted to Dubai, she has authorized her father to manage the account on her behalf.

29)The influence of father & grandfather happened in 2011, when Palonji’s son, Cyrus was named to succeed Tata Group Chairman Ratan Tata.

30)This was the very first time in 74 years of history that a Non-Tata would lead the conglomerate.

31)Cyrus was the chairman of Tata Group from 2012-to 2016.

32) Within the Tata Group Pallonji is known as the Phantom of Bombay House and he commands power around the Mumbai headquarters of the Tata Empire.

33)In 2016, he had been awarded Padma Bhushan by the Government of India.

34) According to Forbes Pallonji’s net worth is $16.8 Billion and he is the richest person in Ireland and the ninth richest person in India.

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