In this talk, we'll do a deep dive into Ray's distributed object management layer. We'll explain the Ray execution model and the basics behind the Ray distributed object store. Next, we'll describe the challenges with achieving both performance and reliability for object management. We'll present our solution to this problem, which is based on a novel concept called ownership that ensures object metadata consistency with low overhead. Finally, we'll present some exciting upcoming work on how to extend ownership to better support recent use cases.