Recently, Two Indians found their place among the world’s 20 richest people in the auto industry.
Pallonji Mistry & Rahul Bajaj who are major shareholders of Tata Motors & Bajaj Auto respectively are among the world’s 20 richest people in the auto sector
Here is a look at both the Indians-
Pallonji Mistry
Company: Tata Motors Ltd.
Stake Value: $302,722,710
Percent of Total Net Worth: 1.5%
Total Wealth: $19.7 billion
Location: Mumbai
Segment: Passenger vehicles
An Irish Citizen after 2003 Pallonji Shapoorji Mistry is an Indian billionaire construction tycoon and chairman of Shapoorji Pallonji Group. Mistry, 90, and his family are shareholders in Tata Sons, the holding company behind more than 100 affiliates with $100 billion in annual revenue, according to the Bloomberg Billionaires Index. The group employs 700,000 people in more than 100 countries.
Source- The Print
In the 1930s, his father Shapoorji Mistry bought the shares in Tata Sons in the 1930s, a stake that currently stands at 18.9% making Mistry the largest individual shareholder in Tata Sons, which is primarily controlled by the charitable Tata Trusts. He is known as the Phantom of Bombay House for the quiet but assured way he commands power around the Mumbai headquarters of the Tata empire.
His Son Cyrus Mistry served as chairman of Tata Sons from November 2011 to October 2016.
Tata Motors Limited, formerly Tata Engineering and Locomotive Company (TELCO), is a multinational Indian car manufacturer headquartered in Mumbai, Maharashtra, India. It’s part of the Indian conglomerate, Tata Group. The goods include passenger cars, trucks, vans, coaches, busses, sports cars, military vehicles, and construction equipment
Rahul Bajaj
Company No. 1: Bajaj Finance Ltd.
Stake Value: $586,320,006
Percent of Total Net Worth: 12.4%
Location: Pune, India
Segment: Auto financing
Company No. 2: Bajaj Auto Ltd.
Stake Value: $1,208,532,867
Percent of Total Net Worth: 25.5%
Total Wealth: $5.2 billion
Location: Pune, India
Segment: Motorbikes and parts
Bajaj, 81, is the chairman of the world’s largest maker of three-wheeled motorcycles. He attended Harvard Business School and also owns stakes in an investment company and an insurance firm. His grandfather, Jamnalal Bajaj, an Indian independence fighter and Mahatma Gandhi confidant, founded the group in 1926.
Source-Outlook India
He stepped down from his role as chairman in 2005 and his son Rajiv became the Group’s managing director. On the Forbes 2016 list of World’s billionaires, he was ranked #722 with a net worth of $ 2.4 billion. Bajaj is the grandson of Indian independence fighter and philanthropist, Jamnalal Bajaj.
Bajaj Auto is the third largest motorcycle manufacturer in the world and the second-largest producer in India. It is the world’s largest manufacturer of three-wheelers.
It’s great to see two leaders of the Indian Automobile Industry, Tata & Bajaj finding a place at the global level.
