Before his death, Ratan Tata has given the name of his colleague Shantanu Naidu in his will worth Rs 10,000 crore. According to a Times of India report, the business tycoon has named some of his stake in Naidu in good faith and has also included in it the expenses on his education abroad. Shantanu joined Tata Group in 2014.
Ratan Tata's assets as part of his Rs 10,000 crore bequest include a 2,000 square foot bungalow in Alibaug, a two-storey house on Mumbai's Juhu Tara Road, fixed deposits (FDs) worth over Rs 350 crore and $165 billion ( About Rs 13.94 lakh crore) includes 0.83% stake in Tata Group.
Shantanu joined Tata Group in 2014
Shantanu joined Tata Group in 2014 after completing his master's degree from America. Along with his office work, he also did social work, which greatly impressed Tata Sons Chairman Ratan Tata. Naidu, in collaboration with Tata, launched a subscription-based companionship service called 'Goodfellows' for 2022 senior citizens.
Major part of the property will go to Ratan Tata Endowment Foundation
Ratan Tata has given the responsibility of distributing the property according to this will to his half-sisters Shirin and Diana Jejeebhoy along with lawyer Darius Khambatta and his close friend Mehli Mistry. Not everything in the report has been made public. But it is believed that a major part of it will go to Ratan Tata Endowment Foundation (RTEF).
Names of brother, step sisters and cook also included in the will
Ratan Tata's will also names his brother Jimmy Tata, half-sisters Shirin and Deanna along with several other family members. In this, Tata has also named his cook Rajan Shaw and butler Subbiah, who were serving him for decades.
Tata Trust's 66% stake in Tata Group worth ₹13.9 lakh crore
The importance and size of Tata Trust can be understood in the sense that it is a group of charitable institutions of the Tata Group. It holds 66% stake in Tata Group with revenue of Rs 13 lakh crore.
Tata Trusts include Sir Ratan Tata Trust and Allied Trust and Sir Dorabji Tata Trust and Allied Trust. These trusts, focusing on poverty alleviation, healthcare and education, are an integral part of Ratan Tata's legacy.
Step brother got the responsibility of Tata Trust
Ratan Tata died on the night of 9 October this month at the age of 86. He was admitted in the Intensive Care Unit (ICU) of Breach Candy Hospital in Mumbai. He was suffering from age related diseases.
A week after his death, on October 17, half brother Noel Tata (66) was handed over the responsibility of chairmanship of 'Tata Trust'.
He is already a trustee of two family trusts. After Tata's demise, Noel was the only contender. Although his brother Jimmy's name was also in discussion, he has already retired.
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