Cyrus Mistry, the former Tata Group chairman, was killed in a road accident in Maharastra’s Palghar region on Sunday, September 4, 2022. Mistry served as the conglomerate’s chairman from 2012 to 2016. His net worth was estimated to be around $10 billion according to the Barclays Hurun India Rich List 2018. The amount comes to around Rs. 79,712.30 crores according to the current INR vs US dollar rate. Mistry’s net worth is believed to have increased to $15 billion in 2022.

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Mistry mainly had two sources of wealth- one from his income as the managing director of Shapoorji Pallonji, one of India’s biggest real estate developers, which also operates in the fields of home appliances, biotechnology, power, textiles and others. Mistry is often credited as the man who fast-tracked the growth of Shapoorji Pallonji.

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His second source of wealth was from Mistry’s company, Cyrus Investments Pvt. Ltd., which owns an 18.4% stake in Tata Sons, the holding company of Tata Group. 

According to reports, Mistry’s car, which was carrying two other people besides the business tycoon, had hit a divider. The other two victims were injured in the accident and were rushed to a hospital in the nearby state of Gujarat. Mistry’s death comes only two months after that of his father, Pallonji Mistry, who passed away in June 2022 at the age of 93. India’s Prime Minister, Narendra Modi, expressed his shock at Mistry’s death on Twitter:

Mistry’s death has sparked interests once again in his feud with Tata Sons, which had become India’s most publicized legal battle for a business empire since the feud between the Ambani brothers over ownership of Dhirubhai Ambani’s conglomerate. Mistry was 54 at the time of his death.