Keshub Mahindra, who died at 99, was India's oldest billionaire

Keshub Mahindra joined Mahindra Group in 1947, and led the company as its chairman for 48 years

Keshub Mahindra, India’s oldest billionaire and chairman emeritus of Mahindra & Mahindra, died on Wednesday. He was 99.

His death comes days after he re-entered the Forbes list of India’s Richest Billionaires for 2023, with a net worth of $1.2 billion.

He joined his father's company in 1947, became chairman of Mahindra & Mahindra in 1963 and stepped down in 2012, after leading the conglomerate for 48 years. His nephew, industrialist Anand Mahindra, was named as his successor.

A graduate of Wharton, University of Pennsylvania, Mahindra transformed the company from an assembler of Willys Jeeps in India to a diversified conglomerate. Not only is the $19 billion Mahindra Group known for its tractors and sports utility vehicles, it is also present in software services, hospitality and real estate.

Keshub Mahindra took on philanthropic causes and was known to be a champion of education and worked closely with the KC Mahindra Education Trust, which grants scholarships across a wide range of categories.

Mahindra served on many government panels, including the Sachar Commission on Company Law & MRTP and the Central Advisory Council of Industries. He was a member of the Prime Minister’s Council on Trade and Industry between 2004 and 2010.

In 1987, he was awarded the Chevalier de l'Ordre National de la Legion d'honneur by the French government.