Meet Cyrus Mistry's Sons Firoz and Zahan Mistry: Billionaires Under 30 Who Inherited 18.4% Stake In Tata Sons

Indian¡¯s Richest Billionaires Under 30: The global landscape of billionaires is continuously evolving, especially in the realm of youth. According to the latest Forbes Billionaires List for 2024, the top 25 youngest billionaires worldwide are all aged 33 or younger, collectively amassing a staggering wealth of $110 billion. However, within this elite cohort, it's noteworthy that a significant portion of these fortunes is inherited rather than self-made.

Cyrus Mistry | Photo: BCCL

The Rising Stars: Zahan and Firoz Mistry

Leading the charge among young Indian billionaires under 30 are the sons of the late Cyrus Mistry, namely Zahan and Firoz. Together, they oversee a remarkable fortune of $9.8 billion, with each inheriting $4.9 billion from their father, the former chairman of Tata Sons, whose untimely demise in 2022 left behind a monumental legacy.

Zahan Mistry: A Glimpse into His Journey

Zahan Mistry, at the age of 25, is the younger of the Mistry brothers. He hails from a lineage deeply rooted in the corporate world, being the son of Cyrus Mistry, the former chairman of Tata Sons, a pivotal entity in the Tata conglomerate. Zahan's inheritance includes a portion of the family's 18.4% stake in Tata Sons, contributing to its annual revenue of $150 billion. Cyrus Mistry died in a car accident in 2022.

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An alumnus of Yale University, Zahan is actively involved in the Mumbai-based construction giant, Shapoorji Pallonji Group, where he holds a significant 25% stake. Notably, his uncle, Shapoor Mistry, assumes the role of chairman within the conglomerate's hierarchy. Despite his diverse interests and global citizenship in Ireland, Zahan chooses to reside in Mumbai, the epicenter of his family's business undertakings.

Firoz Mistry: Charting His Own Path

Firoz Mistry, aged 27, stands as the elder sibling within the Mistry lineage. Following the tragic passing of his father, Cyrus Mistry, in 2022, Firoz inherited an 18.4% stake in Tata Sons, thereby inheriting a significant share of the family's wealth. Additionally, he holds a parallel 25% stake in the Shapoorji Pallonji Group, under the leadership of his uncle.

Beyond the realm of inheritance, Firoz is actively engaged in strategic endeavors, notably contributing to plans aimed at raising funds through the listing of Afcons Infrastructure, a privately held construction and engineering firm. Similar to his brother Zahan, Firoz also pursued his education abroad, attending the University of Warwick. Despite his Irish citizenship, he opts to reside in Mumbai, aligning with the core of the family's business operations.

The Evolving Landscape of Young Billionaires

While the Mistry brothers represent a significant presence among the youngest billionaires globally, they are not alone in this realm of inherited wealth. Figures like Clemente Del Vecchio from Italy and Livia Voigt from Brazil stand as prime examples, inheriting substantial stakes in renowned corporations following their father's demise.

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However, amidst the heirs and heiresses, the narrative of self-made tycoons such as Evan Spiegel and Ben Francis continues to inspire. These individuals have carved their paths to success, contributing to the dynamic landscape of global wealth accumulation.

India's Billionaire Boom

In the context of India, the ascent of new billionaires underscores the nation's growing economic prowess. With 25 additions to the billionaire cohort this year, India's total count now reaches an impressive 200 billionaires, ranking third globally. This surge, as depicted by the latest Forbes World¡¯s Billionaires List 2024, reflects India's thriving entrepreneurial spirit and burgeoning prosperity.

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