Ratan Tata's Will: Dog Tito to benefit from ₹10,000 Crore estate, mentee Shantanu Naidu’s education loan waived

Industrialist Ratan Tata, who passed away recently, left behind a legacy that includes assets allocated to his half-sisters, Shireen and Deanna Jejeebhoy, as well as to his household staff and others. His will has a special mention of his German Shepherd, Tito, a TOI report cited. 

Ratan Tata's assets, estimated at over ₹10,000 crore, include a 2,000-square-foot beach bungalow in Alibaug, a two-storey house on Juhu Tara Road in Mumbai, fixed deposits exceeding ₹350 crore, and a 0.83 per cent stake in Tata Sons, the holding company of the $165-billion Tata Group.

Ratan Tata in his will has requested for ‘unconditional love’ for Tito, who was adopted five or six years ago and stated that he will be cared for by his longtime cook, Rajan Shaw. The will also includes provisions for Tata's butler, Subbaiah, with whom he maintained a close relationship for over thirty years. Both Rajan and Subbaiah were extremely close to Tata. 

Shantanu Naidu, Ratan Tata's mentee, who was often seen with the industrialist was also mentioned in his will. Tata gave up his ownership interest in Naidu's companionship venture, Goodfellows, and waived his education loans.

As per traditions, his shares in Tata Sons will be passed on to the Ratan Tata Endowment Foundation (RTEF), a charitable trust. 

Ratan Tata passed away on October 9, 2024, at the age of 86.

What next for Tata Sons?

The new chairman of Tata's philanthropic arm, Tata Trusts, is likely to be appointed to the board of the group company that operates 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 as the head of the powerful and influential philanthropic arm of the group that owns 66% of Tata Sons, the parent company.

Tata Trusts exerts indirect control over the group as it also appoints a third of the directors to Tata Sons board. Those appointees receive special veto powers.