New Delhi, October 25: Industrialist Ratan Tata, who passed away at 86 on October 9, allocated his estimated INR 10,000-crore wealth in his will. Beneficiaries include his half-sisters Shireen and Deanna Jejeebhoy, brother Jimmy Tata, his loyal butler, assistant Shantanu Naidu, and his beloved dog Tito, ensuring their lifelong care and support.

The legacy of Ratan Tata, one of India’s most respected industrialists and philanthropists, will be channeled largely through the Ratan Tata Endowment Foundation (RTEF), created in 2022 as a non-profit entity. The RTEF is anticipated to be led by N Chandrasekaran, the chairperson of Tata Sons. With an estimated estate of INR 10,000 crore, Tata’s assets, business stakes, and personal belongings are set to serve social causes, family members, loyal staff, and even his beloved dog, Tito. Here’s how Tata’s estate will be distributed:

Ratan Tata Endowment Foundation (RTEF)

RTEF is expected to be the primary beneficiary, receiving Tata’s considerable fortune, including his Tata Sons shares and holdings in Tata Group companies. Led by Tata Sons chairman N Chandrasekaran, RTEF will continue Tata’s mission of social welfare and development. With assets from Tata’s personal investments through RNT Associates and RNT Advisers, the foundation is poised for impactful charitable initiatives. ‘Ratan Tata, Despite Being Titan of Indian Industry, Was Very Humble’: Global Investor Mark Mobius at NDTV World Summit 2024.

Special Waiver For Shantanu Naidu

Ratan Tata made special provisions for family, including his brother Jimmy Tata and half-sisters Shireen and Deanna Jejeebhoy. His trusted executive assistant and confidante, Shantanu Naidu, is also a notable beneficiary. Tata forgave a personal loan Naidu had taken for educational purposes and relinquished his stake in Naidu’s companionship venture, Goodfellows. Ratan Tata Passes Away: Business World Mourns, Mahindra Group Chairman Anand Mahindra and Google CEO Sundar Pichai Pay Condolences to Business Icon’s Legacy.

Household Staff

Tata’s household staff, many of whom have served him loyally for years, were not forgotten. His cook, Rajan Shaw, and his butler, Subbiah, who dedicated decades to Tata, are included in the will, ensuring their future.

Lifelong Care for Beloved Dog ‘Tito’

In a rare gesture, Tata made lifelong provisions for his German shepherd, Tito. Shaw, who cared for Tito, will continue to do so, with funds allocated to ensure “unlimited” care for the dog.

Ratan Tata’s Iconic Properties

Ratan Tata’s estate includes prominent properties, such as his Halekai residence in Colaba, owned by Ewart Investments, a Tata Sons subsidiary, and his Alibaug beach bungalow. Tata’s Juhu house, inherited from his father Naval Tata, has been closed for two decades, with plans to sell it.

Ratan Tata’s Car Collection

Tata’s luxury car collection, comprising 20-30 cars stored at his Colaba residence and Taj Wellington Mews, may be auctioned or transferred to a Tata Group museum in Pune for public display.

The will awaits probate in the Bombay High Court, a process likely to extend over several months. Through the RTEF, Ratan Tata’s legacy will continue to uplift and serve society, reflecting his lifelong commitment to philanthropy.

(The above story first appeared on LatestLY on Oct 25, 2024 04:37 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).