Ratan Tata’s Will Revealed: Shantanu Naidu, Family, Staff, and Pet Dog Tito Included in Rs 10,000 Crore Inheritance
Mumbai, 26th October 2024: Nearly two weeks after the passing of renowned industrialist Ratan Tata on October 9, details of his ₹10,000 crore will have surfaced. The will, which was made public 15 days later, outlines the distribution of his vast fortune among close family, friends, trusted staff, and even his beloved pet dog, Tito.
Among those mentioned in the will is Shantanu Naidu, Tata’s close friend and Tata Trust’s youngest general manager. Naidu, who joined the Tata Group in 2014, has been left a share of Tata’s investments, including stakes in the startup Goodfellows, a venture he launched in 2022 to support senior citizens. Tata had also funded Naidu’s education abroad, which is acknowledged in the will.
The will also includes bequests to Tata’s brother Jimmy Tata and step-sisters Shirin and Diana Jeejeebhoy. In addition, Tata’s loyal house staff, including long-serving cook Rajan Shaw and butler Subbaiah, are beneficiaries. Both Shaw and Subbaiah had been with Tata for over three decades.
In a heartwarming gesture, Tata ensured “unlimited care” for his pet dog Tito, a replacement for his earlier dog who passed away in 2019. The responsibility for Tito’s care has been assigned to Rajan Shaw.
Major Assets Included in the Will
The will specifies several high-value assets, including a 2,000-square-foot bungalow in Alibaug and a two-storey house on Juhu Tara Road in Mumbai. Additionally, it includes a fixed deposit of over ₹350 crore and a 0.83% stake in the Tata Group, valued at $165 billion (around ₹13.94 lakh crore). These holdings reflect Tata’s far-reaching influence within India’s largest conglomerate.
Tata Trusts and Philanthropic Legacy
A significant portion of Tata’s wealth will be directed to the Ratan Tata Endowment Foundation (RTEF), continuing his long-standing commitment to philanthropy. Tata’s step-sisters Shirin and Diana Jeejeebhoy, along with lawyer Darius Khambata and close friend Mehli Mistry, have been entrusted with the responsibility of managing the estate.
Tata’s legacy is further underscored by the Tata Trusts, which hold a 66% stake in the Tata Group, valued at ₹13.9 lakh crore. These trusts are instrumental in funding initiatives related to poverty alleviation, healthcare, and education, continuing Tata’s vision for social upliftment.
Noel Tata Takes Over Chairmanship of Tata Trusts
Following Ratan Tata’s death, Noel Tata, his 66-year-old stepbrother, was named chairman of Tata Trusts on October 17. Noel has served as a trustee for two of the family trusts and was considered the likely successor to the chairmanship. Although there was speculation about Jimmy Tata stepping in, he had retired from active involvement prior to Ratan’s death.
A Legacy of Leadership and Accomplishment
Ratan Tata, born on December 28, 1937, was the great-grandson of Tata Group founder Jamsetji Tata. He served as chairman of the Tata Group from 1990 to 2012 and was interim chairman between October 2016 and February 2017. During his tenure, he expanded the group’s global presence by acquiring companies like Jaguar Land Rover and reclaiming Air India, cementing his legacy as a visionary leader.
Tata’s passing marks the end of an era for India’s oldest business group, but his philanthropic work and business acumen will continue to shape the company for generations to come.
