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20

Meet the Indian Billionaire Who Can’t Spend His Own Fortune

By Tony Seruga

Majority of Pallonji Mistry’s fortune tied to Tata Sons equity
Change in legal status makes it harder to sell Tata Sons stake

Billionaire Pallonji Mistry has about 84 percent of his estimated $20 billion fortune locked up in a legal battle with India’s largest conglomerate.

The conflict between Mistry and the Tata Group began with a boardroom coup in 2016, when the former’s son was ousted as chairman of the latter. Mistry is one of the largest shareholders in Tata Sons Ltd., which controls the $100 billion conglomerate, and his family has since filed numerous lawsuits against the holding company’s board, alleging suppression of minority interests and governance lapses…

Meet the Indian Billionaire Who Can’t Spend His Own Fortune

Categories : Finance

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