India’s oldest billionaire Keshub Mahindra passes away at 99

Keshub Mahindra, the Chairman Emeritus of Mahindra & Mahindra and India’s oldest billionaire, passed away at the age of 99. He had a net worth of $1.2 billion as per Forbes. He retired as the Chairman of Mahindra Group on August 9, 2012, and passed on his responsibilities to his nephew, Anand Mahindra.

Under his 48-year long tenure as Chairman, the Mahindra Group diversified from being solely an automobile manufacturer to expanding into other sectors such as IT, real estate, financial services, and hospitality. Keshub Mahindra played a crucial role in establishing strategic partnerships with global giants like Willys Corporation, Mitsubishi, International Harvester, United Technologies, British Telecom, among others.

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Keshub Mahindra was born on October 9, 1923, in Shimla and earned his degree from Wharton, University of Pennsylvania, USA. He joined the Mahindra & Mahindra Group in 1947 and eventually became its Chairman in 1963.

Besides his role in the Mahindra Group, he served on various Boards and Councils, both in the private and public sectors. This included positions in SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC, and ICICI. He was also the Founder Chairman of HUDCO (Housing and Urban Development Corporation Limited), Vice-Chairman of Housing Development Finance Corporation Ltd, Chairman of Mahindra Ugine Steel Co. Ltd, Director of Bombay Dyeing & Manufacturing Co. Ltd., and Bombay Burmah Trading Corporation Limited.

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