Keshub Mahindra, chairman emeritus of Mahindra and Mahindra passed away at the age of 99 on Wednesday, confirmed INSPACe chairman Pawan K Goenka on his Twitter handle. His death comes days after he re-entered the Forbes list of India's Richest Billionaires for 2023.
Pawan Goenka tweeted, "The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I have the privilege of knowing. I always looked forward to mtgs with him and was inspired by how he connected business, economics and social matters. Om Shanti."
Mahindra had joined his fathers company that was into manufacturing and selling of utility vehicles in 1947. He became the chairman of the company and held the position from 1963 to 2012. Post his retirement he handed over the position to his nephew Anand Mahindra. Mahindra had a net worth of $1.2 billion and according to a report by Forbes was the oldest Indian billionaire.
Keshub Mahindra was a graduate of Wharton, University of Pennsylvania and had transferred the company that was initially an assembler of Willy Jeeps in India to a diversified group that was part of multiple sectors. The $19 billion group today is known not just for its tractors and sports utility vehicles but also for its software services, real estate and hospitality.
He was a well-known philanthropist and helped in building ethical corporations in the country. He was also appointed by the government to serve committees like the Central Advisory Council of Industries and Sachar Commission on the Company Law and MRTP. He was also a member of the Prime Minister's Council on Trade and Industry.
He also served on several boards and councils in the private and public domain, including Tata Steel, Indian Hotels, SAIL and IFC. He was also the director of Bombay Dyeing and Manufacturing and Bombay Burmah Trading Corporation Limited.
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