The famous industrialist Ratan Tata died in October 2024 and left a will that reflects his generosity and gratitude. Although most of his Rs 38,000 crore legacy has been allocated to charity through the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Foundation, a portion of his professional staff has also been designated.
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Recognize long-term service
Tata will express a deep appreciation for the individual who has worked diligently for him over the years. He allocated over Rs 3 crore to his home and office staff. Specifically, Will distributed Rs 1.5 lakh to domestic servants who had been with him for seven years or more, in the number of which was commensurate with their years of service. Part-time assistants and car cleaners were also recognized, with Rs 1 lakh allocated.
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Special mention
Some long-term employees have received special recognition in Tata’s will:
- Rajan Shaw (Cook): Bequested over Rs 1 crore, including exemption of Rs 51 crore loans.
- Subbaiah Konar (Butler): To get Rs 6.6 lakh, including Rs 3.6 lakh loan exemption.
- Delnaz Gilder (Secretary): Rs 1 million left.
- Shantanu Naidu (Executive Assistant): Give up his Rs 1 crore loan from Cornell University MBA.
Charitable donations
In line with his philanthropy, Ratan Tata instructed that his extensive wardrobe features brands like Brooks Brothers, Hermes, Polo, Polo, Daks and Brioni, donated to NGOs for distribution among vulnerable groups.
Summary of key allocations
|
Beneficiary |
Allocation (₹) |
detail |
|
Rajan Shaw (Chef) |
10 million+ |
Including loan exemption of Rs 51 lakh |
|
Subbaiah Konar (Butler) |
6.6 million |
Including loan exemption of Rs 3.6 lakh |
|
Delnaz Gilder (Secretary) |
1 million |
– |
|
Shantanu Naidu (Executive Assistant) |
10 million |
Cornell University MBA Loan |
|
Family servant |
1.5 million |
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|
Part-time assistant/car cleaner |
10,000 |
– |
|
Ratan Tata Trusts |
38 million |
– |
Ratan Tata will give examples of his commitment to philanthropy and the well-being of those who contribute to his life and work.
Summary of key beneficiaries
|
Beneficiary |
Allocation (₹) |
detail |
|
RTEF and RTET |
most |
Tata son and shares of unallocated assets |
|
Shireen and Deanna Jejeebhoy |
One third of each |
Financial assets worth Rs 8 billion |
|
Mohini Mohan Dutta |
5 billion |
Long-term Partner |
|
Jimmy Navy Tower |
Juhu Bungalow |
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|
Mehli Mistry |
Alibaug Property |
Three shots |
|
Shantanu Naidu |
Loan waiver |
MBA Rs 1 crore |
|
Rajan Shaw (Chef) |
More than 10 million |
Including abandonment of loans |
|
Subbaiah Konar (Butler) |
6.6 million |
Including abandonment of loans |
|
Domestic workers |
150,000 each |
Seven years |
|
pet |
1.2 million |
Quarterly Care Distribution |
Ratan Tata will reflect his lifelong dedication to philanthropy while respecting those who have made significant contributions to his personal and professional life.
The will of Ratan Tata was signed on February 23, 2022, outlining the distribution of his vast estate, estimated at around Rs 3,800 crore to Rs 3,900 crore. The key details of his will are as follows:
Charity and Charity Foundation
- Key beneficiaries: The Ratan Tata Endowment Foundation (RTEF) and the Ratan Tata End Foundation (RTET) are the main beneficiaries who have acquired most of his wealth, including the shares of Tata’s son, to support charity and philanthropy.
- Tata Sons stock: 70% of the shares are used for RTEF, while the rest are used for RTET. These shares cannot be sold or transferred unless existing Tata Son shareholders.
Family and close associates
- Half-sisters: Shireen Jejeebhoy and Deanna Jejeebhoy respectively acquired one-third of their remaining property, excluding shares in Tata and non-TATA companies.
- Mohini M. Dutta: Dutta’s former Tata Group employees also received one-third of the remaining property.
- Jimmy Naval Tata: Part of the juhu bungalow that inherits the family.
Friends and employees
- Mehli Mistry: Received Alibaug property and three guns.
- Staff allocation: More than Rs 3 crore allocated to home and office staff, including Rs 1.5 crore for long-term domestic workers, and Rs 10,000 for part-time assistants and car cleaners.
Pets and others
- Pet Care: Rs 1.2 lakh reserved for his pet care and received Rs 30,000 every quarter.
- Loan waiver: Shantanu Naidu’s abandonment of education loans, and interest-free loans from Jake Malite.
Law and administration
- No competition clause: No one who disputes will confiscates their inheritance rights.
- Probate Procedure: The will is being probated in the Mumbai High Court, which can take about six months.
This will reflect Ratan Tata’s commitment to charity, family, and people who have been close to him throughout his life.
Source: https://dinhtienhoang.edu.vn
Category: Optical Illusion