The estate of the late Ratan Tata, valued at over Rs 10,000 crore, outlines care for his beloved dog, support for family and staff, and significant contributions to charitable causes, preserving his legacy of compassion and dedication.
Renowned industrialist and philanthropist Ratan Tata, who passed away earlier this month in Mumbai, left behind an estate estimated at over Rs 10,000 crore, meticulously allocated among family members, trusted aides, his charitable foundation, and a special provision for his cherished German Shepherd, Tito. Tata’s estate, as outlined in his will, reflects his deep values and lifelong dedication to family, staff, and society.
Care for Tito and Tata’s Household Staff
In a rare move, Tata’s will guarantees “unlimited” care for his German Shepherd, Tito, according to a report by The Times of India. Tito, adopted five years ago, will be cared for by Tata’s longtime cook, Rajan Shaw, ensuring the pet continues to receive the utmost attention and comfort. Tata’s butler of over three decades, Subbiah, is also provided for in the will. Known for his generosity, Tata often bought designer clothing for Subbiah during his overseas travels, highlighting the special bond he shared with his household staff.
Provisions for Close Family and Executive Assistant
Ratan Tata’s will includes provisions for his immediate family, specifically his brother, Jimmy Tata, and his half-sisters, Shireen and Deanna Jejeebhoy. Also noted in the will is Tata’s executive assistant and confidant, Shantanu Naidu, who benefits through Tata’s relinquishment of his stake in Naidu’s companionship-focused startup, Goodfellows. Tata also forgave the educational expenses Naidu had incurred for overseas studies, underscoring the mentorship and camaraderie they shared.
Ratan Tata Endowment Foundation (RTEF)
A significant portion of Tata’s assets, including his 0.83% stake in Tata Sons, is allocated to the Ratan Tata Endowment Foundation (RTEF), a Section 8 nonprofit dedicated to advancing social causes. In line with Tata Group’s legacy, RTEF will inherit these shares, facilitating charitable contributions for years to come. Tata Sons Chairman N Chandrasekaran is anticipated to assume leadership of RTEF, continuing Tata’s vision for social welfare and community upliftment.
Real Estate and Valuable Assets
Tata’s extensive property holdings include a 2,000-square-foot beachfront bungalow in Alibaug, a two-storey residence on Juhu Tara Road in Mumbai, and fixed deposits totaling over Rs 350 crore. His primary residence, the Halekai house in Colaba, owned by Ewart Investments (a subsidiary of Tata Sons), will be decided upon by the company. The future of Tata’s iconic Alibaug bungalow remains undecided, and the Juhu property, unused for over two decades and co-inherited by Tata’s family, may soon be put up for sale.
Collection of Classic Cars and Valuable Memorabilia
Ratan Tata’s will details plans for his impressive car collection, featuring 20-30 classic and luxury vehicles housed at his Colaba residence and the Taj Wellington Mews apartments. Possible plans for the collection include display at the Tata Group museum in Pune or auctioning the vehicles, underscoring Tata’s enduring passion for cars. Tata’s numerous awards and recognitions will be donated to the Tata Central Archives, ensuring his accomplishments and contributions are preserved for future generations.
Pending Probate and Final Disbursement of the Estate
While the Bombay High Court is expected to probate Tata’s will, a process that may take several months, the Ratan Tata Endowment Foundation will ultimately serve as the key beneficiary of Tata’s wealth. This foundation is set to continue his philanthropic mission, marking an enduring tribute to his commitment to the Tata Group’s core values. Through this thoughtful estate plan, Ratan Tata’s legacy lives on, encompassing not only his corporate achievements but also his kindness, loyalty, and unrelenting focus on uplifting society.
