The king of the construction business, Pallonji Mistry, headed the 155-year-old Shapoorji Pallonji Group for years. The Mistry family has been one of the most prominent business families in India for many years. Their business ventures and feud with Tata have long been the centre of attention, and Cyrus Mistry’s eventual accident sparked numerous debates about the personal and professional ties between the two families. Pallonji Mistry wed Pat Perin Dubash and became the richest man in Ireland.
Who was Pat Perin Dubash?
Pat “Patsy” Perin Dubash, was born in Hatch Street Nursing Home in Dublin in 1939, as per various reports. Pallonji Mistry married Dubash and in 2003, he renounced his Indian citizenship and donned his Irish identity. This eventually made him the richest man in Ireland.
Dubash and Pallonji gave birth to four children, Shapoor, Cyrus, Aloo and Laila Mistry.
The Tata-Mistry tie goes back to the time of Pallonji Mistry, a business tycoon and father of four including Cyrus Mistry. He served as the Chairman of the Shapoorji Pallonji Group and was a major shareholder of the Tata Group.
The Mistry family
The billionaire’s estimated fortune was locked up in a court dispute with the Tata Group, the biggest corporation in India. Mistry was frequently referred to as the Phantom of Bombay House, which served as the headquarters for the Tata Group. When Cyrus, his younger son, was chosen to succeed company patriarch Ratan Tata as head of the Tata company in 2012, the normally media-averse Mistry family made headlines. However, his tenure came to an end in a dispute following a boardroom takeover in 2016 spearheaded by Tata Trusts, which set off one of India’s biggest business confrontations. As a result, the two families, who had been working together for 70 years, engaged in a protracted legal dispute.
After the demise of his father and brother last year, Shapoor has been given the task of leading the diversified engineering and construction firm, which generates close to $30 billion in revenue and holds an 18.41% stake in the $130 billion Tata firm, as per Forbes report.
At the time of his death, Pallonji Mistry was 93 and this rather secretive businessman, according to Forbes, had a net worth of $15 billion.
