Belfast Telegraph

New job for Ireland's richest man

Irishman Cyrus Mistry took over one of the biggest jobs in the world this week.

He has officially become chairman of the massive conglomerate Tata. Mr Mistry's father Pallonji became an Irish citizen in 2003 "on the basis of his marriage to an Irish-born national", the late Brian Lenihan told the Dail in 2008 when he was Justice Minister.

Pallonji's wife, Patsy Perin Dubash, was born in September 1939 at Hatch Street Nursing House in Dublin. Cyrus, his brother Shapoor and sister Aloo are also Irish citizens by virtue of their mother's birthplace.

With a fortune approaching €7bn (£5.6bn), the Mistry family are the richest Irish citizens on the planet. The bulk of the Mistry wealth comes from their 18.4% stake in the vast Tata Group, which encompasses cars, property, chemicals, leisure and heavy industry. However, the family also has its own massive conglomerate, which stretches from hotels to real estate and jewellery.

The 43-year-old Mr Mistry replaces Ratan Tata, who is retiring from running the vast business that bears his family name.

Over the last two decades of Mr Tata's leadership, sales at the group's companies have jumped from $5bn (£3bn) to more than $83bn (£51bn) last year.