New Delhi: India’s oldest billionaire and chairman emeritus of Mahindra & Mahindra (M&M) Keshub Mahindra passed away on Wednesday, April 12, 2023. He breathed his last at the age of 99. He was included in the recently released Forbes Billionaires List of 2023 among India’s 16 New Billionaires. He left behind a net worth of $1.2 billion. He stepped down as chairman in 2012 after leading the Mahindra Group for 48 years.
Late Keshub Mahindra started working in his father’s company in 1947. After this in 1963 he was made the Chairman of Mahindra Group. Keshab Mahindra was the uncle of industrialist Anand Mahindra and till now was Chairman Emeritus of Mahindra & Mahindra (M&M). Anand Mahindra got this responsibility after retiring as Group Chairman in 2012.
Keshab Mahindra was born on 9 October 1923 in Shimla. His demise has sent a wave of mourning across the corporate world. He has been in the headlines in the past for returning to the billionaires list before hitting the century mark, and news of his death broke just a few days later. Indian National Space Promotion and Authorization Center (INSPACE) President Pawan Goenka tweeted and expressed his condolences.
Goenka wrote in his tweet, ‘The industrial world has lost a great personality today. Keshab Mahindra was unmatched, the best man I had the privilege of knowing. I always looked forward to meeting him and was very inspired by him. Om Shanti’ Keshab was also involved in various government committees including Mahindra Company Law and Monopolistic and Restrictive Trade Practices (MRTP) and Central Advisory Council of Industries.
From 2004 to 2010, the former chairman of the Mahindra Group was a member of the Prime Minister’s Council of Trade and Industry. Veteran industrialist Keshab Mahindra, who passed away at the age of 99, also served on the boards and councils of companies such as Tata Steel, Tata Chemicals, ICICI, IFC, Steel Authority of India Limited (SAIL) and Indian Hotels.
Keshab Mahindra was awarded the Lifetime Achievement Award by Ernst & Young in the year 2007 for his outstanding contribution to the industry. Earlier, in his role as chairman of the Mahindra Group, the late Indian businessman, who was trying to take the group to great heights, was awarded the Chevalier de l’Ordre National de la Legion d’Honneur by the French government in 1987.