Cyrus Mistry was born to a Parsi family in Bombay (now Mumbai), Maharashtra. He was the younger son of Indian billionaire and construction magnate, Pallonji Mistry and his wife, Patsy Perin Dubash.
Both his parents belong to the Zoroastrian faith and have roots in India. However, Mistry’s mother was born in Ireland, and his father chose to take up Irish citizenship.
The Pallonji family have been active in business for a century, and it was in the 1930s that Mistry’s grandfather, Shapoorji Mistry, first acquired a stake in Tata Sons.
The Stake, which now stands at 18.5%, was held by Mistry’s father, and comprises the largest block of shares held by a single party, some 66% stake in Tata Sons is controlled by charitable trusts set up by the family. Mistry grew up in affluent circumstances.