Winning Bizness Desk

Mumbai. The recent unveiling of Ratan Tata’s will reveals a thoughtfully distributed legacy, honoring close family, associates, long-time staff, and even his cherished pet dog. Following his passing on October 9, the ₹10,000 crore will outline specific bequests, including a significant share designated for philanthropic causes under the Ratan Tata Endowment Foundation.

Family and Trusted Friends Included in Tata’s Will

* Tata’s will includes bequests to his brother Jimmy Tata and step-sisters Shirin and Diana Jejeebhoy, in addition to his close friend Shantanu Naidu, who served as the youngest general manager in Tata Trust. Naidu, who has been involved in social work for elderly welfare, founded the startup “Goodfellows” with Tata’s support in 2022. Tata expressed admiration for Naidu’s compassion and professional dedication, leaving him a share in Goodfellows and covering educational expenses abroad.

* In line with his deep appreciation for loyal employees, Tata's cook, Rajan Shaw, and butler, Subbaiah, who have been with him for over three decades, were also mentioned in the will.

Alibaug Bungalow, Fixed Deposits, and Tata Group Stake

The estate’s assets include Tata’s 2,000-square-foot bungalow in Alibaug, a residential property on Mumbai’s Juhu Tara Road, and fixed deposits (FD) worth ₹350 crore. Additionally, Tata’s will includes his personal 0.83% stake in the Tata Group, valued at $165 billion or approximately ₹13.94 lakh crore.

Unlimited Care for Beloved Pet Tito

Tata’s deep affection for his pets was exemplified in his devotion to his dog, Tito, who passed away five years ago, followed by another dog named Tito as well. His will explicitly mandates “unlimited care” for Tito, entrusting his care to his cook, Rajan Shaw.

Tata’s Endowment Foundation Receives a Large Share of the Estate

- A significant portion of Tata’s estate has been allocated to the Ratan Tata Endowment Foundation (RTEF), which furthers his philanthropic goals. This foundation is part of the broader Tata Trusts, which have a 66% ownership stake in the Tata Group. These trusts are instrumental in funding poverty alleviation, healthcare, and educational initiatives across India.

Tata Trusts’ Leadership Transition to Stepbrother Noel Tata

- After Tata’s passing, Noel Tata, Ratan’s 66-year-old stepbrother, assumed the position of chairman of Tata Trusts on October 17. Noel, already a trustee of the family trusts, was widely anticipated to succeed Tata in this role, marking a new era for the Tata Trusts as it continues to oversee substantial charitable initiatives.

Ratan Tata’s Distinguished Tenure as Tata Group Chairman

- Born on December 28, 1937, Ratan Tata’s influence on the Tata Group is legendary. He chaired the conglomerate from 1990 to 2012, then served briefly as interim chairman from October 2016 to February 2017. Tata was celebrated for pioneering acquisitions, including Air India, and the luxury car brands Land Rover and Jaguar, formerly owned by Ford.

Legacy Rooted in Philanthropy and Vision

Tata’s bequests underline his dedication to the well-being of people around him, reflecting his compassionate leadership style. The substantial provisions for family, trusted employees, and pet care exemplify his values of loyalty, care, and giving back.