Cyrus Pallonji Mistry is an entrepreneur from India. From 2012 to 2016, he was a director of the Tata Group, an Indian conglomerate of businesses. Cyrus served as the second non-Tata chairman and sixth chairman of the group. 18.4% of Tata Sons was under the ownership of his company, Cyrus Investments Pvt. Ltd. At the time of his passing, Mistry was one of the most affluent people in India, with a net worth of almost $29 billion. He was one of the members of the National Integration Council.
|Name||Cyrus Pallonji Mistry|
|Education||Imperial College London|
|Children||Firoz Mistry, Zahan Mistry|
Early life and family
Cyrus Mistry was born into a Parsi household in Bombay, Maharashtra. He was the youngest child of Patsy Perin Dubash and Pallonji Mistry, an Indian entrepreneur, and businessman in the construction sector. His parents belonged to the Indian-born Zoroastrian religion.
The mother of Cyrus Mistry was born in Ireland, and the father decided to acquire Irish citizenship. An older brother of Mistry’s who is also an Irish citizen.
The Pallonji Family has been involved in the industry for more than a century, and Cyrus Mistry’s grandfather originally bought a stake in Tata Sons in the 1930s. The holding, which now amounts to 18.5%, belonged to Mistry’s father and is the largest block of shares held by a single person.
Cyrus Mistry Education
Cyrus Mistry received his education at the prestigious Cathedral & John Canon School in South Mumbai. After completing his studies at Imperial College London, He graduated from the University of London with a Bachelor of Engineering in Civil Engineering in 1990.
Mistry went on to study at the London Business School, and in 1996, the University of London awarded him an International Executive Master in Management.
Cyrus Mistry joined the Tata Sons board in September 2006, a year after his father fled. Between September 24, 1990, and October 26, 2009, he was a manager of Tata Elxsi Limited. From September 18, 2006, he was a director of Tata Power Co.
In 2013, Cyrus Mistry was appointed chairman of Tata Sons. He served as chairman of all main Tata firms, including Tata Motors, Tata Steel, Tata Consultancy Services, Tata Teleservices, Tata Power, Tata Global Beverages, and Tata Chemicals.
Yet, in October 2016, the committee of Tata Sons, the holding firm for the Tata Group, decided to remove Mistry from his position as chairman after giving him a chance to resign voluntarily. A few months later, Natarajan Chandrashekharan was appointed the Tata Group’s new chairman.
Rohiqa Chagla was Mistry’s wife and the daughter of lawyers Iqbal Chagla and M.C. Chagla. Iqbal Chagla has prepared Cyrus Mistry’s legal defence against Tata Sons.
Two of the child’s boys are named Firoz and Zahan Mistry.
Mistry was an Indian national who had lived in Ireland his entire life (having acquired Overseas Citizenship of India). However, according to a news report in the Irish newspaper The Independent, Mistry reportedly sees himself as a global citizen.
Cyrus Mistry has built a successful career over the years in a variety of industries. In 2022, his net worth is projected to be $15 billion. His years of dedication to the businesses have resulted in him having this much net worth. He has held a powerful position in significant corporations like Tata Sons, which is one factor contributing to his wealth. He oversees Shapoorji Pallonji & Co. as managing director. It is one of India’s top construction firms, making a respectable sum of money from its operations.