Mistry, who has a fondness for whiskey and horses, gave up his Indian passport and became an Irish citizen in 2003, on the basis of his marriage to Dublin-born Patsy Perin Dubash. Their children, Cyrus, Shapoor, Aloo and Laila, are also citizens.
Pallonji became an Irish citizen in 2003
Mumbai-based industrialist Pallonji Mistry and his family remain at the top of the Rich List in Ireland for another year. Their wealth comes from an 18.2pc stake in the massive global conglomerate Tata Sons, which owns businesses ranging from the Jaguar car business to Tetley Tea as well as global chemical, steel, IT, real estate and construction interests. The group owns assets at locations ranging from Doha to Dublin and Newcastle to New Delhi.
The Tata empire includes full ownership or stakes in 32 listed companies worth more than €100bn. Values have rocketed in the past year, with Forbes estimating the family’s fortune at €14.5bn. The Mistrys are Irish thanks to matriarch Patsy Perin Dubash, who was born in Dublin’s Hatch Street nursing home in 1939.
Pallonji became an Irish citizen in 2003 and his sons Cyrus and Sharpoor and daughters Aloo and Laila also elected to become Irish citizens. Despite the attractive tax regime for inheritance, it is understood that the Mistrys remain tax-resident in India.
The Mistry family aren’t enormously ostentatious with their wealth, despite owning opulent properties in Mumbai (modelled after the White House) and Surrey, a stud farm in Pune and a home in the south of France.
Pallonji and his offspring are extremely low profile. That may be changing, though, as Cyrus bought a flame-red 1971 Jaguar E type sports car for his eldest son Firoz for Christmas.