Ratan Tata’s Legacy: New Leadership & Executors Appointed Following His Passing At Age 86

Ratan Tata, the esteemed former chairman of Tata Sons, passed away on 9 October at the age of 86, leaving a legacy of philanthropy and business acumen.

Following his death, his half-brother Noel Tata has taken the helm as the new chairman of Tata Trusts.

According to a report by the Economic Times, Tata appointed lawyer Darius Khambata and close associate Mehli Mistry as executors of his will, alongside his half-sisters, Shireen and Deanna Jejeebhoy.

Ratan Tata, who holds a 0.83% stake in Tata Sons, has a net worth of approximately Rs 7,900 crore according to the Hurun India Rich List 2024.

Throughout his life, he expressed a strong commitment to philanthropy, aiming to allocate a substantial part of his wealth toward charitable causes.

He was an investor in several prominent companies, including Ola, Paytm, FirstCry, Urban Company, and Upstox, though he had exited some of these investments.

His property portfolio included a residence in Mumbai’s Colaba and a holiday home in Alibaug along the Arabian Sea.

Insights Into Ratan Tata’s Will

While the full details of Ratan Tata’s will remain confidential, it is known that Mehli Mistry, a longtime confidante and trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, will play a significant role.

While the full details of Ratan Tata’s will stay confidential, people know that Mehli Mistry, a longtime confidant and trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, will take on a significant role.

These trusts collectively hold approximately 66% of Tata Sons. Mistry, who supported Tata during his later years, has a deep-rooted connection to the Tata family.

Darius Khambata, another executor, is a prominent advocate and previously served as a trustee for the Tata Trusts until he stepped down in 2016.

He returned last year to assist in the management of Tata’s legacy.

Ratan Tata’s half-sisters, Shireen and Deanna Jejeebhoy, daughters of his mother, Sooni, from her second marriage, have been active in charitable endeavors.

Deanna notably served as a trustee for the Ratan Tata Trust during the 1990s and early 2000s.

Ratan Tata had a close relationship with both sisters, marked by mutual respect and teamwork in their philanthropic activities.

Executor Responsibilities

As executors, Mistry, Khambata, and the Jejeebhoy sisters have the critical task of making sure they carry out Tata’s wishes according to his will, managing his assets responsibly, and upholding the values that defined his life.

RNT Associates Pvt Ltd, Tata’s personal investment company, reported investments worth Rs 186 crore as of FY23, although this figure represents the original cost rather than the current market value, which is likely to have risen.

Mistry and Tata were the sole board members of RNT Associates.

The appointed executors are tasked with carrying on Ratan Tata’s legacy of social responsibility and commitment to bettering society, ensuring that his philanthropic vision remains a guiding principle for the future of Tata Trusts and its initiatives.

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