Cyrus Mistry’s Net Worth: In India’s business and political communities, Cyrus Mistry’s unexpected death was initially met with shock and astonishment. To help you better understand Cyrus Mistry, I’ve listed a few key facts below. What you need to know about Cyrus Mistry is below.
Who Was Cyrus Mistry?
Irish entrepreneur Cyrus Pallonji Mistry was born in India. After Ratan Tata stepped down as CEO of Tata Sons in 2012, he rose to fame after being appointed to the position. He was the sixth chairman of the group and only the second not to share the Tata surname with the founders, after Nowroji Saklatwala.
He was elected chairman because Shapoorji Palonji Group, Tata Sons’ biggest shareholder, wanted a representative on the board. Following his father’s retirement, construction magnate Pallonji Mistry was invited to join the Board of Tata Sons in 2006. Mistry was removed as chairman of Tata Group by the board of Tata Sons in October 2016 after he was allowed to quit voluntarily.
Natarajan Chandrasekaran was named the new chairman a few months after Ratan Tata returned as interim chairman. The National Company Law Appellate Tribunal (NCLAT) ruled that the appointment of Chandrasekaran as executive chairman was invalid in December 2019, and it reinstated Mistry in the role.
The Supreme Court issued a stay of the NCLAT’s order on January 10, 2020. Mistry has filed a cross-appeal with the court, asking for an investigation into several apparent irregularities on the part of the NCLAT. Unfortunately, his termination was upheld by the Supreme Court.
Personal Life
Cyrus Mistry is the second son of Indian construction mogul Pallonji Mistry and his wife, Patsy Perin Dubash, and thus a member of a prominent Parsi family in Bombay (now Mumbai). His parents are both devout Zoroastrians with deep ties to India.
But Mistry’s mom is Irish, and his dad decided to become a citizen of that country. Mistry’s older brother, Shapoor Mistry, is also an Irish citizen. Two of Mistry’s sisters, Laila and Aloo, are also in the family. His wife and two kids will miss him terribly.
In 1991, Mistry became a director at Shapoorji Pallonji & Co. Ltd, the family construction business. Mistry is the chairman of Tata Sons and the Tata Group, in addition to his roles as managing director of Shapoorji Pallonji & Company, a subsidiary of the Shapoorji Pallonji Group.
Cyrus Mistry’s net worth was $29 billion at the time of his death. With that kind of money he could have maintained a fleet of helicopters and business jets for his personal travel needs.
— Siva (@aususa7) September 4, 2022
Cyrus Mistry Death
On Sunday, former Tata Group chairman Cyrus Mistry, 54, passed away in a car accident in the Palghar region of Maharashtra, which is close to the city of Mumbai. An afternoon collision between Cyrus Mistry’s Mercedes and a divider on a bridge over the Surya river claimed the businessman’s life as he drove from Ahmedabad to Mumbai.
Cyrus Mistry was one of four persons in the wrecked car that hit a tree and flipped over. The wounded were taken to a medical facility in Kasa. The postmortem on Mistry’s body will occur at the Kasa Rural Hospital. Many in Indian business and politics were shocked by the untimely death of the prominent industrialist and expressed disbelief at the news at first.
Education
Mistry attended the well-regarded Cathedral & John Connon School in South Mumbai. He attended Imperial College London and, in 1990, received a Bachelor of Engineering in civil engineering from the University of London. The University of London gave him an International Executive Master in Management after he finished his studies at London Business School in 1996.
He attended Imperial College London and received a Bachelor of Engineering in civil engineering from the University of London in 1990. Later, in 1996, he attended London Business School and graduated with an International Executive Master’s in Management from the University of London.
Cyrus Mistry’s Net Worth
Through Cyrus Investments Pvt. Ltd., Cyrus Mistry controlled an 18.4 percent stake in Tata Sons. As of the end of 2018, he was valued at roughly $10 billion.
According to the Bloomberg Billionaires Index, his father estimated Cyrus Mistry’s Net Worth to be around US$30 Billion in mid-2021 and US$29 billion at the time of his death. At the time of his death, he was the wealthiest person in Ireland and the 143rd richest person in the world.