The late Ratan Tata, former chairman of Tata Group, India’s largest industrial conglomerate, recently passed away, leaving behind an estate valued at nearly Rs 10,000 crore. He designated four individuals to oversee his will, which includes an unprecedented provision for the ‘unlimited’ care of his German Shepherd dog, Tito, marking a first in India for a business tycoon’s will.
Tata’s wealth has been allocated among his foundation, his brother Jimmy Tata, his step-sisters Shireen and Diana Jijeebhoy, his household staff, and others. His assets include a 2,000-square-foot bungalow in Alibaug, a two-storey home in Mumbai's Juhu, fixed deposits worth Rs 350 crore, and a 0.83% stake in Tata Sons, the holding company of Tata Group.
Tito, who was adopted by Tata six years ago, is under the dedicated care of Tata’s chef, Rajan Shaw. Tata’s will also ensures the welfare of his longtime butler Subbaiya, who served him for three decades. Reportedly, Tata often bought designer clothing for both Shaw and Subbaiya during international trips.
Also Read | Who Will Execute Ratan Tata’s Will? Meet 4 Trusted Individuals with the Right to Share His Wealth.
What Did Shantanu Naidu Receive?
Shantanu Naidu, Ratan Tata’s executive assistant, is also a beneficiary. Tata divested his stake in Naidu’s Goodfellows initiative and forgave Naidu’s personal loan for studying abroad. Following the Tata tradition of transferring shares to charitable trusts, Tata’s shares will go to the Ratan Tata Endowment Foundation (RTEF), established in 2022. Sources suggest that N Chandrasekaran, Tata Sons’ chairman, may lead RTEF.
Ratan Tata resided at Helkai House in Colaba, owned by Ewart Investments, a 100% subsidiary of Tata Sons, which will determine the property’s future. Helkai House and the Alibaug bungalow were both designed by Tata. The Juhu house, covering a quarter of an acre, has been closed for over two decades and is reportedly up for sale.
Apart from Tata Sons, Tata’s stake in other Tata Group companies will also transfer to RTEF. His private investment vehicles, RNT Associates and RNT Advisors, will liquidate their assets for RTEF’s benefit. Tata’s personal car collection, including several luxury vehicles, is housed at Helkai House and the Taj Wellington Mews Service Apartments in Colaba, with future plans for the collection still under consideration.