Keshub Mahindra, India's oldest billionaire and chairman emeritus of Mahindra & Mahindra, passed away on Wednesday aged 99.
Mahindra had a net worth of $1.2 billion, according to Forbes.
After retiring from his position as Chairman, Mahindra Group, on August 9, 2012, he handed over the reins to his nephew, Anand Mahindra .
During the 48 years of his chairmanship, the Mahindra Group expanded from being an automobile manufacturer to other business segments like IT, real estate, financial services and hospitality.
He played key roles in forging business alliances with global majors such as the Willys Corporation, Mitsubishi, International Harvester, United Technologies, British Telecom and many others.
“Mr Keshub Mahindra, Chairman Emeritus, Mahindra Group passed away peacefully today (April 12) morning,” Mahindra & Mahindra said in a statement.
“With this an epoch in the Indian corporate world comes to an end. He would have been a centurion in October of this year,” a former colleague of Keshub Mahindra said.
“The industrial world has lost one of the tallest personalities today.
He also served on several boards and councils in both the private and public domain, including SAIL, Tata Steel, Tata Chemicals, Indian Hotels, IFC and ICICI.
Mahindra had served as the non-executive Chairman of Union Carbide India Ltd when the Bhopal gas tragedy, the world’s worst industrial disaster which left over 15,000 people dead, occurred in 1984.
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