Ratan Tata's wealth: Foundation to handle fortune, cook and butler get a slice, a waiver for Shantanu Naidu

The Ratan Tata Endowment Foundation (RTEF) will reportedly become the primary channel for the late industry giant's considerable fortune, ensuring his legacy of philanthropy lives on. Established in 2022 as a Section 8 company focused on non-profit causes, RTEF is set to receive the majority of Tata’s estimated ₹10,000 crore estate, including his valuable stake in Tata Sons and other Tata Group companies. 

Tata Sons chairman N Chandrasekaran is expected to lead the foundation, continuing Tata’s vision for social welfare and service.

RTEF has already made strategic investments, such as ₹147 crore in Tata Technologies before its 2023 IPO, and a stake in Tata Digital, which operates Tata Neu. Following Tata’s will, the foundation will also benefit from the liquidation of his startup investments through RNT Associates and RNT Advisers, significantly boosting its charitable initiatives.

Tata’s will goes beyond corporate generosity. According to The Times of India, it makes provisions for close family members, including his brother, Jimmy Tata, and half-sisters, Shireen and Deanna Jejeebhoy. Tata’s loyal household staff, such as his cook, Rajan Shaw, and butler, Subbiah, are also included, both having shared decades of service with him.

Shantanu Naidu, Tata’s executive assistant and confidante, is also a notable beneficiary. Tata reportedly forgave a personal loan Naidu had taken for education and relinquished his stake in Naidu’s companionship venture, Goodfellows, a gesture that highlights Tata’s deep bond with him.

In an uncommon move for India, Tata ensured lifelong care for his beloved German shepherd, Tito. Tito, adopted 5-6 years ago, will continue to be cared for by Shaw, with provisions in the will guaranteeing "unlimited" care for the dog, a rare act more typical in the West.

Tata’s personal estate is just as notable. His collection of 20-30 luxury cars, stored at his Colaba residence and Taj Wellington Mews, is yet to be assigned, with options including auctioning or public display. His iconic Alibaug beach bungalow and Mumbai residence on Juhu Tara Road are also part of the estate, though their future is undecided.

As the will awaits probate in the Bombay High Court, the RTEF is set to play a key role in distributing Tata’s wealth. While Business Today has not independently verified all details, it’s clear that through RTEF, Tata’s fortune will continue to uplift society.