In his will, Ratan Tata named his foundation as one of several beneficiaries to receive his assets.
Industrialist-philanthropist Ratan Tata, who died earlier this month, has ensured “unlimited” care for his dog, Tito, in his will. After Mr. Tata’s previous dog passed away, Tito was adopted about six years ago. Rajan Shaw, his long-time cook, will take care of him. In the West, it is common to set aside money for pets, but in India, this is still uncommon.
Ratan Tata, who died on October 9 at age 86, was known for his love for dogs. On social media, Tata frequently advocated for the welfare of stray dogs and encouraged others to show compassion towards them. He even dedicated himself to finding homes for abandoned pets and worked to ensure their safety.
According to a report in The Times of India, Ratan Tata, whose estate is estimated to exceed Rs 10,000 crore, also designated assets to various beneficiaries, including his foundation, brother Jimmy Tata, half-sisters Shireen and Deanna Jejeebhoy, and household staff members.
Additionally, Mr. Tata’s will includes provisions for his butler, Subbiah, with whom he had a close relationship for more than thirty years.
Shantanu Naidu, Mr. Tata’s executive assistant, is also mentioned in the will. The report claims that he has paid for his studies overseas and given up his interest in Mr. Naidu’s companionship business, Goodfellows.
His possessions include a two-story home on Mumbai’s Juhu Tara Road, a 2,000-square-foot beach bungalow in Alibaug, Maharashtra, and fixed deposits totalling more than Rs 350 crore. Additionally, he owns 0.83% of Tata Sons, the parent business of the $165 billion Tata Group.
His ownership of Tata Sons will be given to the Ratan Tata Endowment Foundation (RTEF), continuing the Tata Group’s tradition of transferring shares to charitable trusts. Ratan Tata’s holdings in other Tata Group companies, such as Tata Motors, will also be transferred to RTEF in addition to his shares in Tata Sons.
The future of the Halekai house in Colaba, where he lived until his death, will be decided by Ewart Investments, a Tata Sons subsidiary that owns the entire property. Mr. Tata currently keeps his collection of 20 to 30 luxury cars at his home in Halekai and the Taj Wellington Mews service apartments in Colaba. This collection may be purchased by the Tata Group to be shown in its Pune museum or it may be put up for auction. The future of the collection remains uncertain.
After his father, Naval Tata, passed away, Ratan Tata and his family inherited the Juhu property, which was situated on a quarter-acre plot of land with a view of the beach. According to reports, it has been closed for more than 20 years, and there are talks about selling it.
It is anticipated that the probate procedure for his will will take several months. The High Court of Bombay will review it.