Ratan Tata, the esteemed industrialist and philanthropist, passed away on October 9, 2024, leaving behind a significant estate valued at approximately ₹10,000 crore. His will outlines a thoughtful distribution of assets among family members, loyal staff, and charitable organizations, reflecting his lifelong commitment to philanthropy and animal welfare.
Key Beneficiaries of Ratan Tata’s Will
- Ratan Tata Endowment Foundation (RTEF): The primary beneficiary of Tata’s estate will be the RTEF, established in 2022 to continue his philanthropic legacy. This foundation will receive a substantial portion of Tata’s wealth, including his shares in Tata Sons and other group companies.
- Family Members:
- Jimmy Tata: Ratan’s brother is one of the designated beneficiaries.
- Shireen and Deanna Jejeebhoy: His half-sisters will also inherit part of his estate.
- Household Staff: Long-time staff members, including his cook Rajan Shaw and butler Subbiah, are included in the will. Subbiah has been with Tata for over three decades and will receive special provisions in recognition of their close relationship.
- Shantanu Naidu: Ratan Tata’s executive assistant and confidant will benefit from the will as well. Notably, Tata forgave a personal loan Naidu took for education and relinquished his stake in Naidu’s companionship venture, Goodfellows.
Special Provisions for Pets
In a rare gesture for India, Ratan Tata ensured “unlimited” care for his beloved German Shepherd, Tito. Adopted about six years ago, Tito will continue to be cared for by Rajan Shaw, reflecting Tata’s deep affection for animals and commitment to their welfare.
Assets Included in the Will
Ratan Tata’s estate comprises various valuable assets:
- Real Estate:
- A 2,000-square-foot beach bungalow in Alibaug.
- A two-storey residence on Juhu Tara Road in Mumbai.
- The Halekai house in Colaba, which is owned by Ewart Investments, a subsidiary of Tata Sons.
- Financial Assets:
- Fixed deposits exceeding ₹350 crore.
- A 0.83% stake in Tata Sons, which is expected to be transferred to the RTEF as part of the family’s tradition of charitable giving.
- Luxury Vehicles: Tata owned a collection of 20-30 luxury cars stored at his residences. The future of this collection remains undecided; options include auctioning or displaying them in a museum.
Legal Proceedings Ahead
The probate process for Ratan Tata’s will is anticipated to take several months as it undergoes examination by the Bombay High Court. This legal scrutiny aims to confirm the validity of the will and ensure that his wishes are properly executed.
Conclusion
Ratan Tata’s will not only reflects his immense wealth but also encapsulates his values—prioritizing family, staff loyalty, and philanthropy. His legacy will continue through the RTEF and the various beneficiaries named in his will, ensuring that his contributions to society endure long after his passing. Disclaimer: This article is based on reports regarding Ratan Tata’s will and its beneficiaries. The information provided is subject to legal verification during the probate process.
