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Shapoorji Pallonji Group Chairman Pallonji Mistry passes away at age 93

The business icon was estimated to be worth over US$29 billion and also received the Padma Bhushan in 2016.

Pallonji Mistry was awarded the Padma Bhushan in 2016 for his contributions in the field of trade and industry. (Source: Wikipedia)

Pallonji Mistry, a multibillionaire and the chairman of the Shapoorji Pallonji (SP) Group, passed away aged 93 in Mumbai on Tuesday.  With a stake of 18.37 percent, Mistry's SP Group is the largest stakeholder in the Tata Group.  

Mistry, who was born in India and later acquired Irish citizenship, died at his house in South Mumbai around 1:00 a.m, according to reports. Prime Minister Narendra Modi tweeted a homage to the man, expressing sadness at his demise.

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