India’s oldest billionaire Keshub Mahindra passes away at 99

A doyen of India’s automobile industry and the Chairman Emeritus of Mahindra and Mahindra, Mr. Keshub Mahindra passed away early this morning in Mumbai. The 99-year-old breathed his last, peacefully at home.

Mr. Keshub Mahindra’s passing comes days after he re-entered the Forbes billionaire list of 2023, becoming India’s oldest billionaire with a net worth of 1.2 billion dollars.

An alumnus of Wharton, University of Pennsylvania, Keshub Mahindra joined his father’s company in 1947. He not only played a major role in taking the company to the top league in the automobile industry but also expanded it to other sectors like software services, hospitality, and real estate. He retired from the company in 2012 and handed the baton to his nephew Anand Mahindra.
Mr. Keshub Mahindra was also a well-known philanthropist who redefined good corporate governance. Besides serving on many government committees, Mr. Mahindra was also a member of the Prime Minister’s Council on Trade and Industry from 2004 to 2010. He had also served on several Boards and Councils in both the private and public domain, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, International Finance Corporation, and ICICI. Mr. Mahindra was also the Founder Chairman of Housing and Urban Development Corporation Limited.

In an official statement, the President of the Society of Indian Automobile Manufacturers, Mr. Vinod Aggarwal said the Indian automobile industry has lost one of its pioneers. He added that Mr. Mahindra’s leadership had helped India in becoming a manufacturing hub for the automobile sector. Former Managing Director of Mahindra and Mahindra, Mr. Pawan K Goenka also condoled his passing on Twitter. He said that the industrial world has lost one of its tallest personalities as there is no match for Keshub Mahindra. Mr. Goenka said that he was inspired by how Mr. Mahindra connected business, economics, and social matters.