Noel Tata, 67, has succeeded his half-brother Ratan Tata as the chairman of Tata Trusts following the death of the industrial icon. During his tenure as chairman of Trent Ltd, the primary retail arm of Tata Group, it shares have soared more than 6,000 per cent.
Noel's marriage to Aloo Mistry, the daughter of Pallonji Mistry, who was once the largest individual shareholder of Tata Group, has also increased his influence in the company. The Shapoorji Pallonji family, which owns an 18.4 per cent stake in Tata Sons, is also among the wealthiest families in Europe with a base in Ireland.
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What is Noel Tata's net worth?
Noel Tata's net worth is estimated to be around $1.5 billion, which translates to Rs 12,620.60 crore.
He became the managing director of Trent Ltd, founded by his mother Simone Tata, in 1999. He later took over as its chairman in 2014. Previously, he headed Tata International from 2010 to 2021. The Tata fashion brand, Westside, was acquired by Trent during Noel's tenure. In 2016, Trent also launched Zudio, which is now one of the biggest clothing retailers in the country. He was also the brain behind Tata's consumer electronics retailer, Croma, which has over 400 stores across India.
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Noel was already on the boards of Sir Ratan Tata Trust and Sir Dorabji Tata Trust, the philanthropic arms of the Tata Trusts. Following his appointment to the chair of Tata Trusts, Noel said he was deeply honoured and humbled by the responsibility that has been cast on him by his fellow trustees. "I look forward to carrying on the legacy of Ratan N Tata and the founders of the Tata Group," he said, adding that the company will continue to play its part in building India.
Tata Trusts was established by Jamsetji Tata, the great-grandfather of Noel and Ratan, in 1892. Noel was earlier close to assuming the chair of Tata Sons, the holding firm for Tata Group, in 2012. However, the role went to his wife Aloo Mistry's brother Cyrus Mistry with the backing of Ratan. In 2016, Cyrus was ousted due to his working style and was replaced by N. Chandrashekharan.