On October 9, 2024, Ratan Tata, the former chairman of the Tata Group, passed away at the age of 86. He is known for his philanthropy and contributions to the Indian business community.
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Concerns have grown over Ratan Tata’s Rs 10,000-crore inheritance following his death earlier this month.
You are watching: Ratan Tata’s ₹10,000 Crore Will: Who Will Get What? Check All Details Here!
In his will, the industrialist divided his wealth between his half-sisters Shireen Jejeebhoy and Deanna Jejeebhoy, his brother Jimmy Tata, his loyal butler and assistant Shantanu Naidu. He also set aside a portion of his fortune for his pet dog Tito.
Ratan Tata’s will outlines the distribution of his assets, which include a beach bungalow, a house in Mumbai and fixed deposits of over Rs 350 crore.
His dog Tito, house staff, family members and administrative assistants are among the beneficiaries. His car collection and awards will be acquired or auctioned by the Tata Group and the awards will be donated to the Tata Central Archives to preserve his legacy.
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Overview of distribution and key provisions of Ratan Tata’s Will
Renowned industrialist and philanthropist Ratan Tata passed away on October 9, 2024, leaving behind an important legacy worth approximately Rs 10,000 crore. His will attracted attention for its unique terms and distribution of assets.
Key terms of Ratan Tata’s will
Caring for Tito: Tata has given “infinite care” to his German shepherd Tito, who will be cared for by his long-time chef Rajan Shaw. This reflects Tata’s well-known love for animals.
Beneficiary:
- Family members: His will included shares from his brother Jimmy Tata and half-sisters Shireen Jejeebhoy and Deanna Jejeebhoy.
- Long-Term Staff: Provision is made for his butler, Subbiah, with whom he has had a close relationship for over thirty years. It is understood that Subiya received gifts of designer clothes during their travels together.
- Executive Assistant: Tata’s executive assistant Shantanu Naidu will also benefit from the will. Tata gave up its stake in Goodfellows, Naidu’s partnership, and gave up any education loans Naidu had taken.
Asset distribution:
- Real Estate: His properties include a beach bungalow in Alibaug and a two-storey house in Tara Road, Juhu, Mumbai.
- Financial assets: He holds over Rs 350 crore in fixed deposits and 0.83% stake in Tata Sons, which will be transferred to the Ratan Tata Endowment Foundation (RTEF) to support philanthropic activities.
- Legacy Preservation: Awards and recognitions received by Tata will be donated to the Tata Central Archives to ensure that his legacy is preserved for future generations.
Succession planning background
Ratan Tata died without naming a successor, raising questions about the future leadership of the Tata Group.
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The board is now responsible for appointing the new head of Tata Trusts. The existing leadership structure includes N Chandrasekaran, who has been chairman of Tata Sons since 2017.
The use of trusts has been a hallmark of the Tatas’ succession planning strategy to ensure continuity and stability for their vast business empire. This approach allows for greater control over asset management than a traditional will.
The exact percentage of shares each beneficiary will receive from Ratan Tata’s will has not been publicly disclosed.
However, it is reported that most of his estate, including his 0.83% stake in Tata Sons and interests in other Tata group companies, will be transferred to the Ratan Tata Endowment Foundation (RTEF) for charitable purposes.
Other beneficiaries such as his brother Jimmy Tata, half-sisters Shireen and Deanna Jejeebhoy, and his housekeeper Subiya Subbiah and administrative assistant Shantanu Naidu and other domestic staff will also be allocated, but the specific proportion remains confidential.
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Source: https://dinhtienhoang.edu.vn
Category: Optical Illusion