Ratan Tata held 0.86% stake in Tata Sons, his net worth was Rs…
GH News October 18, 2024 03:06 PM
Ratan Tata the former chairman of Tata Sons and a visionary leader of the Tata Group passed away at the age of 86. His will named lawyer Darius Khambata and long-time associate Mehli Mistry as executors while his half-sisters Shireen and Deanna Jejeebhoy were also appointed to help carry out his final wishes. Following his passing Ratan’s half-brother Noel Tata was appointed chairman of Tata Trusts the body that controls the majority of shares in Tata Sons. At the time of his death Ratan Tata owned a 0.83% stake in Tata Sons and had a net worth of Rs 7900 crore according to the Hurun India Rich List 2024. Despite his vast wealth Tata was known for his commitment to philanthropy dedicating a significant portion of his wealth to charitable causes. Ratan Tata Stake In Tata Sons Wealth of 84-year-old Ratan Tata and his little-known younger brother 81-year-old Jimmy Tata is collectively valued at Rs 23874 crore ($2.99 billion). Noel Tata holds Rs 14014 crore ($1.76 billion).  Ratan Tatas individual wealth is estimated at Rs. 12609 crore of which a majority (92% or Rs.11639 crore) is on account of his 0.83% stake in Tata Sons according to the report by Fortune India in 2022. The remaining Rs 971 crore is the value of his holding in 28 startups as per data from Tracxn. A large portion of Ratan Tata’s wealth was tied up in his shares in Tata Sons the holding company of the Tata Group. In addition to this he had diversified investments in various industries including nearly two dozen companies such as Ola Paytm FirstCry BlueStone and Urban Company. Over the years he had exited some of these investments but remained influential in shaping the Indian startup ecosystem. Tata Trusts is the largest stakeholder in Tata Sons with 66% of the company. Tata Trusts is an umbrella company of 14 trusts. Ratan Tata Personal Property He also owned personal residences including his primary home in Colaba Mumbai and a holiday house in Alibaug. Despite his material wealth and success Ratan Tata consistently focused on philanthropic efforts a characteristic that made him stand out from typical business magnates. According to the Hurun India Rich List 2024 Ratan Tata was ranked 350th among the richest Indians with a net worth of Rs 7900 crore. Since 2014 he had invested in at least 25 companies including prominent startups. Most of these investments were made through his personal investment firm RNT Associates Private Limited. Ratan Tata’s Personal Investment  RNT Associates Private Limited served as one of Ratan Tata’s primary personal investment vehicles. Through this firm he invested both in India and abroad. According to its latest available financial reports (FY23) RNT Associates entirely owned by Ratan Tata had total assets of Rs 296.96 crore with investments worth Rs 186 crore and cash and cash equivalents of Rs 77.88 crore. The value of these investments was recorded at the actual cost of investment rather than the current market value reflecting a conservative approach to valuation. In FY23 the company generated Rs 36.39 crore in revenue up from Rs 17 crore the previous year and reported a profit of Rs 27.71 crore more than double its previous year’s profit of Rs 12.47 crore. Mehli Mistry a close associate and confidant of Ratan Tata was the only other director on the board of RNT Associates. Mehli Mistry a first cousin of the late Cyrus Mistry (former chairman of Tata Sons) played a key role in Ratan Tata’s inner circle and is also a trustee of the Sir Ratan Tata Trust Sir Dorabji Tata Trust and Tata Education and Development Trust.
© Copyright @2024 LIDEA. All Rights Reserved.