The Ratan Tata Endowment Foundation (RTEF) is poised to become the main vehicle for managing the substantial wealth of the late industry leader, thereby preserving his philanthropic legacy. Established in 2022 as a Section 8 non-profit organization, the RTEF is set to inherit the majority of Tata’s estimated ₹10,000 crore estate, which includes significant stakes in Tata Sons and various other Tata Group companies. N. Chandrasekaran, the chairman of Tata Sons, is expected to lead the foundation, upholding Tata’s vision for community service and social welfare.
RTEF has already initiated strategic investments, including a ₹147 crore investment in Tata Technologies prior to its IPO in 2023, along with acquiring a stake in Tata Digital, which manages the Tata Neu platform. In line with Tata’s last wishes, the foundation will also gain from the liquidation of his startup investments held through RNT Associates and RNT Advisers, which will greatly enhance its capacity for charitable work.
Tata’s will encompasses more than just corporate philanthropy. As reported by The Times of India, it includes provisions for his close family members, such as his brother, Jimmy Tata, and half-sisters, Shireen and Deanna Jejeebhoy. It also provides for his devoted household staff, including his cook, Rajan Shaw, and butler, Subbiah, who have been with him for decades. Notably, Shantanu Naidu, Tata’s executive assistant and trusted confidant, is also among the beneficiaries. Tata’s decision to forgive a personal loan Naidu had taken for educational purposes and to relinquish his stake in Naidu’s companionship venture, Goodfellows, underscores their strong relationship.
In a rare gesture for India, Tata arranged for the lifelong care of his cherished German shepherd, Tito. Adopted around five to six years ago, Tito will continue to be looked after by Shaw, with provisions in the will guaranteeing “unlimited” care for the dog, a sentiment more commonly seen in Western cultures.
Tata’s personal estate is equally significant. His collection of 20 to 30 luxury cars, currently stored at his residences in Colaba and Taj Wellington Mews, has yet to be allocated, with possibilities including auctioning or public display. His notable properties, such as the Alibaug beach bungalow and his Mumbai home on Juhu Tara Road, are also part of the estate, although their future remains uncertain.
As the will awaits probate in the Bombay High Court, the RTEF is prepared to play a crucial role in the distribution of Tata’s wealth. While the details have not been independently verified by Business Today, it is evident that through RTEF, Tata’s considerable fortune will continue to make a positive impact on society.
