Ratan Tata’s close aide, Senior lawyer Darius Khambata and Tata Sons chairman N Chandrasekaran are most likely to be part of the foundation, claims report.
Following the passing of Ratan Tata, executors of his will have started shortlisting members for the boards of the Ratan Tata Endowment Foundation and Ratan Tata Endowment Trust, which he established to manage a significant portion of his wealth.
Senior lawyer Darius Khambata and Tata Sons chairman N Chandrasekaran are likely candidates for key roles, alongside his half-sisters Shireen and Deanna Jejeebhoy, and other Tata trustees like Noel Tata and Pramit Jhaveri, claims Economic Times report.
Noel Tata is the half-brother of the late Ratan Tata, and was appointed as the new chairman of Tata Trusts after Ratan Tata’s passing. Some media report speculates that some Tata Trusteesincluding Trusts chairman Noel Tata and Pramit Jhaveri may be considered as foundation directors.
Stakeholders are expected to collaborate on appointments, as per Tata’s vision of continuing philanthropy through these entities.
When Can Ratan Tata’s Wealth Be Distributed?
Ratan Tata’s wealth can be distributed only after the will is submitted for probate and certified by the high court and this process can take up to six months.
Legal challenges arise in will execution only when someone is challenging the existence or contents of the will,according to the legal experts or else the probate can be granted easily in favour of the executors named in the will.
Ratan Tata Will Details
Ratan Tata’s net worth of ₹7,900 crore, including his 0.83% stake in Tata Sons, will primarily fund his charitable organizations. A portion of his estate has been allocated to his half-sisters, estimated at ₹300 crore, though they may redirect it to the foundation.
Tata’s Juhu residence was bequeathed to his brother Jimmy Tata, while his luxury cars, including a Ferrari and Maserati, may be auctioned to support the foundation. Probate certification, required to execute the will, may take up to six months unless contested.
Ratan Tata Endowment Foundation Plans
The Ratan Tata Endowment Foundation will focus on underrepresented philanthropic areas, research in emerging technologies, and long-term social impact initiatives. It will oversee most of Tata’s wealth, while the Ratan Tata Endowment Trust will manage the remainder.
Plans for his privately held firm, RNT Associates Singapore, remain undisclosed, but the foundation is expected to play a pivotal role in ensuring Tata’s legacy of impactful philanthropy.