Ratan Tata
It has been almost a month since the death of late businessman Ratan Tata. Now a news related to his will is coming out, in which he has donated his will to his pet dog, staff, family members and other people. Such news is quite rare in India, whereas it is common in western countries. . Let us tell you that Ratan Tata’s total wealth is estimated to be more than Rs 10,000 crore, Ratan Tata has also donated his wealth to his foundation, brother Jimmy Tata, step-sisters Shirin and Dina Jeejeebhoy, domestic employees and others. .
Dog chosen to care for Tito
According to a TOI report, Ratan Tata has clearly stated in his will that his pet dog Tito will be looked after indefinitely by his longtime cook Rajan Shaw. Let us tell you that Tata had adopted Tito 5 or 6 years ago after the death of his previous dog. The will also left some money for his butler Subbaiah, with whom Tata had a three-decade long relationship. Ratan Tata used to buy designer clothes for him during his foreign trips.
Shantanu Naidu’s name also in the will
Apart from this, Tata has also included the name of his executive assistant Shantanu Naidu in the will. He gave up his stake in Naidu’s partnership venture Goodfellows and also waived the expenses of Naidu’s studies abroad.
What’s in the property?
Ratan Tata’s assets include a 2,000 sq ft beach bungalow in Alibaug, a 2-storey house on Juhu Tara Road in Mumbai, FDs worth over Rs 350 crore and a 0.83% stake in Tata Sons, the holding company of the $165 billion Tata group. , which will be transferred to the Ratan Tata Endowment Foundation (RTEF). In keeping with the Tata Group’s tradition of donating shares to charitable trusts, his stake will be transferred to the Ratan Tata Endowment Foundation (RTEF). If sources are to be believed, Tata Sons chief N Chandrasekaran may chair the RTEF.
Tata lived in Hellkai House
Helakai House in Colaba is owned by Ewart Investments, where Ratan Tata lived until his death. Ewart Investments is a 100% subsidiary of Tata Sons. Its future will be decided by Ewart. Ratan Tata himself designed both Helkai House and the Alibaug Bungalow, although the fate of the Alibaug property is still in the womb of time. The Juhu home, which faces the beach and is situated on a quarter-acre plot, was bought by Ratan Tata and his family – brother Jimmy, half-brother Noel Tata and stepmother Simone Tata after the death of their father Naval Tata. Was inherited. Sources say it has been closed for more than two decades, and now there are plans to sell the property.
Property will be given to RTEF
Apart from Tata Sons shares, Ratan Tata’s stake in other Tata group companies including Tata Motors will also be transferred to RTEF. Established in 2022, RTEF is a Section 8 company focused on promoting non-profit causes. It made its first equity investment by buying Tata Technologies shares for Rs 147 crore from Tata Motors just ahead of the 2023 IPO and followed it up by acquiring a minority stake in Tata Digital, which operates Tata New Apps. Their investments in startups will be liquidated through RNT Associates and RNT Advisors, with the proceeds going to RTEF.
Convoy of 20-30 cars
Ratan Tata has a large fleet of 20-30 cars, which includes many luxury models. The convoy is currently housed at Helakai Residence and Taj Wellington Mews Serviced Apartments in Colaba. These are also being considered now.
Prizes will also be donated
Additionally, many of Ratan Tata’s awards and honors will be donated to the Tata Central Archives, so that his legacy is preserved for future generations. Despite leading the Tata Group worth more than $100 billion, Ratan did not appear in the rich list due to his limited personal stake in Tata group companies. His will is expected to be certified by the Bombay High Court, a process that may take several months.
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