Ratan Tata’s Generous Legacy: Rs 3.5 Crore for Staff
MUMBAI: In a remarkable act of generosity, the late industrialist Ratan Tata has left behind nearly Rs 3.5 crore for his household staff and office employees, including car cleaners and peons. Following his passing in October 2024, Tata’s will revealed that he not only waived loans for his staff but also allocated funds to support those who served him for many years.
A Testament to Loyalty and Service
Ratan Tata’s will, dated February 23, 2022, outlines a heartfelt distribution of his estate. He directed that Rs 15 lakh be shared among domestic servants who had been with him for over seven years, based on their years of service. Additionally, part-time helpers and car cleaners will receive Rs 1 lakh. This gesture underscores Tata’s appreciation for the loyalty and dedication of those who supported him throughout his life.
Among the significant beneficiaries is his long-time cook, Rajan Shaw, who will receive just over Rs 1 crore, including a waiver of a Rs 51 lakh loan. Similarly, his butler, Subbaiah Konar, is set to inherit Rs 66 lakh, which includes a loan waiver of Rs 36 lakh. Tata’s secretary, Delnaz Gilder, will receive Rs 10 lakh as part of this generous distribution.
Waiving Loans: A Unique Approach
In a move that highlights his compassion, Tata canceled several loans owed to him by his staff. This includes a Rs 1 crore loan given to his executive assistant, Shantanu Naidu, for his MBA studies at Cornell University. Tata’s will explicitly states that these loans should not be considered debts to his estate, but rather bequests to the concerned individuals. This decision reflects Tata’s commitment to ensuring the financial well-being of those who worked closely with him.
Other beneficiaries include his driver, Raju Leon, who will receive Rs 1.5 lakh along with a waiver of an Rs 18 lakh loan. Tata also waived a Rs 23.7 lakh loan owed by his neighbor, Jake Malite, who had borrowed the amount for his MBA at Warwick Business School in the UK.
Caring for His Beloved Pets and Executors
Ratan Tata’s will also includes provisions for his beloved German shepherd, Tito, who will receive Rs 12 lakh, allocated for his care with quarterly disbursements of Rs 30,000. Tito, adopted after the passing of Tata’s previous dog, remains under the care of Rajan Shaw.
The executors of Tata’s will, including former Tata Trusts trustee Darius Khambata and others, will each receive Rs 5 lakh for their efforts in executing his wishes. Additionally, Tata ensured that his funeral expenses, amounting to Rs 2,500, would be covered by his estate, demonstrating his meticulous attention to detail even in his final arrangements.
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