The revered former chairman of Tata sons, Ratan Tata, passed away on October 9, 2024 at the age of 86 leaving behind a legacy rooted in business and philanthropy.
As per the Economic Times report citing knowledge of the matter, the late business tycoon, in his will, has named lawyer Darius Khambata and close associate Mehli Mistry as the executors, alongside his half-sisters Shireen and Deanna Jejeebhoy.
Mehli Mistry and Darius Khambata
As per the report, Mehli Mistry, a close confidante of the late Ratan Tata and also the first cousin of the late Cyrus Mistry, played a supporting Tata during his later years.
Known for his loyalty, Mistry stood by Tata in the tumultuous period following Cyrus Mistry’s removal as Tata Sons chairman.
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In 2022, he was appointed as a trustee on the boards of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which hold a majority stake in Tata Sons. These trusts are key stakeholders in the Tata Group, owning around 52 per cent of Tata Sons, reported the Economic Times.
In addition to his role with the Tata Trusts, he also served on the board of the M Pallonji Group, a family conglomerate involved in sectors like logistics, finance, auto dealerships, and life insurance.
Darius Khambata has also played a key role in the Tata Trusts as a trustee in 2023, and has played major role in Tata's personal and professional affairs for years.
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The Jejeebhoy Sisters
Shireen and Deanna Jejeebhoy, Ratan Tata’s half-sisters, were also named as executors in his will. The daughters of Tata’s mother Soonoo from her second marriage to Sir Jamsetjee Jejeebhoy, the sisters have been actively involved in philanthropy throughout their lives.
As per the Economic Times, Deanna Jejeebhoy had previously served as a trustee on the board of the Ratan Tata Trust in the 1990s and early 2000s.
Ratan Tata's wealth
Ratan Tata, whose net worth was estimated at Rs 7,900 crore according to the Hurun India Rich List 2024, held a 0.83 per cent stake in Tata Sons. Apart from this, he has made personal investments beyond Tata companies to startups like Ola, Paytm, FirstCry, and Urban Company.
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His personal investment vehicle, RNT Associates Pvt Ltd, held investments worth Rs 186 crore until FY23, as per the Economic Times. Mehli Mistry and Tata were the only two board members of this firm.