Ratan Tata leaves ₹3.5cr for workers, ₹12L for dog's upkeep
What's the story
Ratan Tata, the former chairman of Tata Sons and a stalwart of India's business ecosystem, passed away in October 2024 at the age of 86.
Now, fresh details of his will have surfaced.
The document shows that Tata left a large chunk of his wealth (nearly ₹3.5 crore) to charity and those near and dear to him, including family, friends, staff members, and even pets.
Wealth distribution
Tata's estate valued at ₹10,000 crore
Tata's estate, including his assets, is estimated to be worth ₹10,000 crore.
As per the will dated February 23, 2022, nearly ₹3,800 crore of ordinary and preferential shares and other assets were bequeathed to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust for charitable purposes.
A significant portion of the remaining wealth was divided among family members, friends, as well as long-serving staff members.
Staff beneficiaries
Longtime staff members received significant bequests
Tata's longtime staff members were given nearly ₹3.5 crore in his will.
His cook Rajan Shaw was given just over ₹1 crore, including a loan waiver of ₹51 lakh.
Butler Subbaiah Konar was bequeathed ₹66 lakh, including a loan waiver of ₹36 lakh.
Secretary Delnaz Gilder got ₹10 lakh, while executive assistant Shantanu Naidu's educational loan of ₹1 crore was waived off.
Will provisions
No-contest clause included in the will
The will also has a strict "no-contest" clause, meaning any beneficiary who challenges the will forfeits all rights and benefits.
This provision ensures that Tata's wealth is distributed as he wished, without any challenge.
The executors of Tata's estate, including his half-sisters and close friends, will receive ₹5 lakh each for their efforts in executing this final testament.
He also waived off other loans, including one to his neighbor and an ₹18 lakh loan to his driver, Raju Leon.
Pet provisions
Tata's love for animals reflected in his will
Tata's love for animals is also reflected in his will, which dedicates ₹12 lakh for the care of his pet German shepherd, Tito.
The amount will be released quarterly and is to be utilized by Shaw, who will look after Tito.
The late industrialist also directed that all his clothing be donated to NGOs for distribution among the underprivileged. His wardrobe includes Brooks Brothers shirts, Hermès ties and Brioni suits.