Beloved industrialist and former Tata Group chairman Ratan Tata passed away on October 9 at the age of 86. Following his death, his stepbrother, Noel Tata, was appointed as the new chairman of Tata Trusts, as per the provisions of Ratan Tata's will. According to the Economic Times, Ratan Tata named lawyer Darius Khambata, his close confidant Mehli Mistry, and his half-sisters Shireen and Deanna Jejeebhoy as executors of his will.
As per the Hurun India Rich List 2024, Ratan Tata held a 0.83% stake in Tata Sons, with an estimated net worth of Rs 7,900 crore. Three-fourths of his wealth is tied to his shares in Tata Sons. In addition, Ratan Tata invested in nearly two dozen companies, including Ola, Paytm, Traxon, Firstcry, Bluestone, CarDekho, Cashkaro, Urban Company, and Upstox. He also owned homes in Colaba and Alibag, Mumbai. However, the details of Ratan Tata's will remain private.
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Who Is Mehli Mistry?Mehli Mistry was known to be very close to Ratan Tata. Mistry serves as a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. Together, these two trusts hold a 52% stake in Tata Sons, with Tata Trusts having a total stake of 66% in Tata Sons. Tata Sons is the holding company of the Tata Group, whose listed companies boast a market capitalization of Rs 16.71 lakh crore.
Ratan Tata’s half-sisters, Shireen and Deanna, have long been involved in philanthropy. Deanna, in particular, served as a trustee of the Ratan Tata Trust during the 1990s and early 2000s. Ratan Tata was known to be especially close to his younger sisters.
Role of Darius KhambataReports suggest that lawyer Darius Khambata played a key role in assisting Ratan Tata in drafting his will. Khambata returned to the boards of two major Tata Trusts last year after stepping down in 2016 due to personal commitments. As an executor of the will, Khambata will ensure that Ratan Tata's last wishes are carried out according to the law.
As the appointed executors, Mehli Mistry and Darius Khambata hold the responsibility of fulfilling Ratan Tata's wishes as outlined in his will.