Industrial Ratan Tata
Industrialist Ratan Tata passed away on the 9th of this month. After this, there was speculation about what would happen to his personal assets. Now his will has come to light, which mentions the distribution of his assets. Ratan Tata has also decided in his will the future of the investments made in those startups in which he had personally invested during his lifetime. This includes companies like Ola, Ola Electric, Upstox, Curefit and Urban Company.
According to 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 portion that will be given to your family members, your dog, your household staff, and the nonprofit trust you have created. He has also made clear what the future of his investments will be.
The future of startups like Ola, upstox
Ratan Tata’s will states that he has invested in startups through RNT Associates and ANAT Advisors. They will be liquidated, that is, their investments or shareholdings in these companies will be liquidated. The money generated from this will be given to his non-profit foundation ‘Ratan Tata Endowment Foundation’ (RTEF).
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Ratan Tata had personally invested in around 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 receive 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, registered in Delhi. This company will work for non-profit causes. The creation of this foundation by Ratan Tata is in accordance with the tradition of the Tata family, where earlier also members of the Tata family had donated their properties to the foundation.
This includes foundations such as the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. By combining the assets of these trusts, Tata Trusts are formed, which owns the majority stake in Tata Sons, the holding company of the Tata Group. Tata Trusts is actually the owner of the entire Tata Group. Ratan Tata was Chairman of Tata Trusts during his lifetime and now after his death, Noel Tata has this responsibility.
Also Read: Who will own 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 holding company Tata Sons and Tata Motors. All this 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 he acquired as family property. What will happen to his 20 or 30 luxury cars? There is no clear mention of this in the will. There is a possibility that the final decision in this regard will be taken by the Tata Group or the persons concerned.
At the same time, it has also been revealed in the will about Ratan Tata’s partner 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.
