Industrialist Ratan Tata died on the 9th of this month. After this, speculations were being made as to what would happen to his personal property. Now his will has come to light, in which the distribution of his property is mentioned. Ratan Tata has also decided in his will the future of investments made in those startup companies in which he had personally invested during his lifetime. This includes companies like Ola, Ola Electric, Upstox, Curefit and Urban Company.
According to the information that has come to light about Ratan Tata’s will, his personal wealth is worth around Rs 10,000 crore. This includes his personal stake in Tata Sons, his personal shares in many Tata Group companies, his own house etc. The will mentions the share to be given to his family members, his dog, his household staff and the non-profit trust he has created. It has also been made clear what will be the future of their investments.
Future of startups like Ola, upstox
Ratan Tata’s will states that he has invested in startup companies through RNT Associates and ANAT Advisors. They will be liquidated, that is, their investments or share holdings in these companies will be liquidated. The money generated from this will be handed over to his non-profit trust ‘Ratan Tata Endowment Foundation’ (RTEF).
Ratan Tata had personally invested in about 18 startups. These include companies like Ola, Ola Electric, Paytm, Snapdeal, Traxon, First Cry, Car Dekho, Cash Karo, Cure Fit, Blue Stone, Upstox, Urban Company, Urban Ladder and Moglix.
See this also: Servants and dogs will also get Ratan Tata’s wealth, he made arrangements for everyone while leaving
What is ‘Ratan Tata Endowment Foundation’?
Ratan Tata had created ‘Ratan Tata Endowment Foundation’ in the year 2022. This is a Section-8 company, which is registered in Delhi. This company will work for non-profit causes. Ratan Tata’s creation of this foundation is in accordance with the tradition of the Tata family, where earlier too members of the Tata family had donated their property to the foundation.
This includes foundations like Sir Dorabji Tata Trust, Sir Ratan Tata Trust. By combining the assets of these trusts, Tata Trusts is formed, which holds the majority stake in Tata Sons, the holding company of Tata Group. Tata Trusts is actually the owner of the entire Tata Group. Ratan Tata was the chairman of Tata Trusts during his lifetime and now after his death, Noel Tata has got this responsibility.
Also read: Who will be the owner of Ratan Tata’s property worth crores? These 4 names appeared in the will
What will happen to these shares of Ratan Tata?
Ratan Tata also has shares in Tata Group’s holding company Tata Sons and Tata Motors. All these will be transferred to RTEF. Ratan Tata also has shares in new age companies like Tata Technologies and Tata Digital. These will also be transferred to RTEF.
Apart from this, the house where Ratan Tata lived. The house which he got as family property. What will happen to his 20 to 30 luxury cars? There is no clear mention regarding this in the will. There is a possibility that the final decision regarding these will be taken by Tata Group or the concerned people.
At the same time, disclosure has also been made in the will about Ratan Tata’s associate Shantanu Naidu. Ratan Tata’s stake in Shantanu Naidu’s startup Goodfellows has now been abandoned. Not only this, the loan given to Shantanu Naidu for his studies abroad has also been waived off.
