Ratan Tata, the former chairman of Tata Group and one of India’s most respected industrialists, passed away recently, leaving behind a fortune of Rs 7,900 crore. Much of his wealth will be used for charity and social causes, as per his wishes. Tata, who was a firm believer in giving back to society, had planned his will carefully, ensuring that his wealth will benefit the larger community.
Who Will Oversee Ratan Tata’s Will?
According to sources, Tata appointed four trusted individuals to execute his will and ensure that his wealth is distributed as per his vision. These include his close lawyer friend Darius Khambatta, long-time associate Mehli Mistry, and his step-sisters Shireen and Diana Jeejeebhoy. These four people have been entrusted with the responsibility of managing his estate and ensuring that his legacy of philanthropy continues.
A Legacy of Charity and Social Welfare
Ratan Tata, known for his humility and simplicity, always believed in using wealth for the greater good. A large portion of his wealth will be directed towards charitable causes, as was his wish. Nearly 75% of his net worth is tied to his stake in Tata Sons, the holding company of Tata Group. Tata Sons owns several prominent companies, and its stake in listed companies is valued at a whopping Rs 16.71 lakh crore.
Tata’s charitable legacy is carried forward by two primary trusts—the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust—which together own a 52% stake in Tata Sons. These trusts have been involved in numerous philanthropic activities over the years, including healthcare, education, and social welfare.
Key People Behind Ratan Tata’s Will
- Darius Khambatta, a close friend of Tata, played a key role in drafting the industrialist’s will. Khambatta returned to the Tata Trusts as a trustee last year, after leaving in 2016 due to professional commitments. His long-standing relationship with Tata and his expertise in legal matters make him a crucial figure in the execution of Tata’s will.
- Mehli Mistry, another trusted confidant, has been associated with Tata for many years. Mistry is the cousin of the late Cyrus Mistry, former chairman of Tata Sons. He has been a staunch supporter of Ratan Tata, particularly during the legal battle surrounding Cyrus Mistry’s removal from the post of chairman of Tata Sons. Mehli Mistry also holds key positions in multiple companies, including Tata Trusts, and has been actively involved in Ratan Tata’s healthcare in recent years.
- Shireen and Diana Jeejeebhoy, Tata’s step-sisters, have also been appointed as executors of his will. Both sisters have been involved in philanthropic work over the years. Diana was a trustee on the board of the Ratan Tata Trust in the 1990s and early 2000s, and both sisters have supported charitable activities in various capacities. Ratan Tata was known to be very close to his sisters, and their inclusion in his will reflects the strong bond they shared.
Noel Tata to Lead Tata Trusts
In addition to the execution of his will, Ratan Tata’s half-brother Noel Tata has been appointed as the new chairman of Tata Trusts. Noel, who has been with the Tata Group for many years, will now oversee the charitable activities of the trusts, which hold a 66% stake in Tata Sons. Noel Tata’s leadership is expected to further strengthen the philanthropic efforts of the Tata Group, continuing the legacy built by Ratan Tata.
Ratan Tata’s Investments and Properties
Apart from his philanthropic work, Ratan Tata also made several personal investments in various companies. His portfolio included startups like Ola, Paytm, Urban Company, and FirstCry. While he sold some of these stakes over time, his personal investment company, RNT Associates, was actively involved in venture capital activities.
Tata’s residence in Colaba, Mumbai, and a holiday home in Alibaug on the Arabian Sea coast were among his notable properties. Although the details of his will are private, it is known that a significant portion of his wealth will continue to support causes that were close to his heart.
With his estate in capable hands, Ratan Tata’s vision of using wealth for the betterment of society will live on, further solidifying his legacy as one of India’s greatest philanthropists.
