Cyrus Mistry, an Irish-Indian businessman and former chairman of Tata Sons Group, has died aged 54 in a car crash in western India.
Police Prakash Gaekwad said the accident happened on a bridge in the Palghar district of Maharashtra state on September 4, the Guardian reported.
B Patil, a senior police official in Palghar district, announced that Mr. Mistry was on his way to Mumbai with three others.
A senior Mumbai police official said that the vehicle Mr. Mistry was traveling in hit the median. Former president Tata Sons died at the scene.
Mr. Mistry served as chairman of Tata Sons, the parent company of the $ 300 billion Tata Group, for five years until he was dismissed by the board of directors in October 2016. He objected to this, but India’s highest court upheld the decision to dismiss him.
Politicians and business leaders said they were shocked by the news of Mr Mistry’s death. Prime Minister Narendra Modi described Mr Mistry as a promising business leader who believes in India’s economic strength.
“His passing is a great loss to the world of commerce and industry,” he said.
Tata Consultancy Services (TCS), a company in which Tata Sons owns a majority stake, mourned the death of its former chairman.
“He is a warm, friendly and sociable person who has built strong relationships with the TCS family during his time as company president,” TCS said in a statement.
Graduated in civil engineering from Imperial College London and in administration from the London Business School, Mr Mistry describes himself as an avid business reader and golfer.
Mr. Mistry used to own an 18.4% stake in Tata Sons through his company Cyrus Investments.
Cyrus Mistry, with a fortune of almost 29,000 million dollars, was part of the ranking of billionaires carried out by Bloomberg and in which another businessman from his country, Gautam Adani, has been placed in the third position. The Hindu businessman has climbed 10 positions in just one year and is only surpassed by Elon Musk and Jeff Bezos.
Adani, who had already overtaken his countryman Mukesh Ambani to become the richest man in Asia last year, has seen his profits boosted by his decision to increase resources in his renewable energy businesses and has made profits worth $60 billion; he has been, along with Ambani, the only one who has obtained earnings in the list of the 13 men with the most money.
CCTV Visuals: Moments Before Cyrus Mistry’s Car Crash On September 4.#CyrusMistry pic.twitter.com/vzZu6dXdIB
— TIMES NOW (@TimesNow) September 5, 2022
In 2018, his net worth is around 10 billion USD.
EX Tata Sons Chairman Cyrus Mistry no more. He dies in an car accident near Mumbai.
Om Shanti 🙏 pic.twitter.com/s3BTaLxsGz
— Sameet Thakkar (@thakkar_sameet) September 4, 2022
Amelia Warner
Amelia Warner writes all the Latest Articles. She mostly covers Entertainment topics, but at times loves to write about movie reviews as well.
