Renowned industrialist Keshub Mahindra, who recently held the title of India’s oldest billionaire on the Forbes list released earlier this month with a net worth of $1.2 billion, passed away on Wednesday at the age of 99.
Keshub Mahindra was a prominent industrialist and businessman who made significant contributions to the growth and development of the Indian economy. He was instrumental in expanding the company’s business interests into various sectors, such as real estate, information technology, financial services and hospitality.
The group’s hospitality arm, Mahindra Holidays and Resorts, is one of the largest vacation ownership companies in India. Mahindra Lifespaces, the group’s real estate arm, is involved in developing residential and commercial properties across India.
A graduate of Wharton at the University of Pennsylvania in the United States, he joined the Mahindra Group in 1947, which was co-founded by his father K.C. Mahindra, in 1945. Keshub Mahindra was the chairman of the Mahindra Group from 1963 to 2012, a tenure of 48 years. He retired in 2012 and passed on the chairmanship to his nephew, Anand Mahindra.
Interesting facts
- Keshub Mahindra was born on October 9, 1923, in Shimla and led the Mahindra Group for 48 years.
- He started working for his family business in 1947, rose to the position of chairman in 1963, and retired in 2012, handing over the reins to his nephew Anand Mahindra.
- Keshub Mahindra was instrumental in expanding the Mahindra Group’s portfolio of businesses. While he was at the helm, the company went from being an Indian manufacturer of Willys jeeps to a successful diversified conglomerate
- Between the years of 2004 and 2010, he was also a member of the Prime Minister’s Council on Trade and Industry, in addition to his position at the Mahindra Group.
- He was the founding Chairman of HUDCO and served on other corporate boards, including Tata Steel, SAIL, Indian Hotels, HDFC and Tata Chemicals.
- The French government honoured him with the Chevalier of the Order of the Legion of Honor for his work.
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