2024-10-25 17:27:41 :
Industrialist Ratan Tata, who died recently, left an estate that included assets distributed among his half-sisters Shireen Jejeebhoy and Deanna Jejeebhoy, as well as his household staff and others. According to the Times of India, his will specifically mentioned his German shepherd Tito.
Ratan Tata’s net worth is estimated to be over $10,000 crore, including a 2,000 sq ft beach bungalow in Alibaug, a two-storey house on Juhu Tara Road in Mumbai, fixed deposits of over $350 crore, and a 0.83% stake in Tata Sons, the holding company of the $165 billion Tata Group.
In his will, Ratan Tata asked for “unconditional love” for Tito, who was adopted five or six years ago, and said he would be cared for by his longtime chef, Rajan Shaw. The will also provided for the services of Tata’s housekeeper, Subbaiah, with whom Tata had a close relationship for more than three decades. Both Rajan and Subhayya are close to Tata.
Shantanu Naidu, a disciple of Ratan Tata, is also mentioned in his will and was often seen with the industrialist. Tata gave up its ownership interest in Naidu’s partnership, Goodfellows, and had his education loans forgiven.
As per tradition, his stake in Tata Sons will be transferred to the Ratan Tata Endowment Foundation (RTEF), a charitable trust.
Ratan Tata passed away on October 9, 2024, at the age of 86.
What’s next for Tata Sons?
The new chairman of Tata Trusts, Tata’s philanthropic arm, is likely to be appointed to the board of directors of the conglomerate that runs the $165 billion salt-to-software conglomerate, a source with direct knowledge of the matter said on Friday.
Noel Tata, the half-brother of Ratan Tata, who died last week, has been appointed to head the powerful and influential philanthropic arm of the group that owns his mother 66% stake in the company, Tata Sons.
Tata Trusts has indirect control over the group as it also appoints one-third of the directors on Tata Sons’ board. These appointees receive special veto power.
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