Ratan Tata’s will revealed, know what will be the future of startups?
Industrialist Ratan Tata died on 9 October this month. Since his death, there were speculations about his property. Now his will has come to the fore, which mentions the division of his property. Along with this, Ratan Tata has also decided in his will the future of the investments made in those startup companies, in which he had personally invested during his lifetime. This includes companies like Ola, Ola Electric, Upperstocks, Curefit and Urban Company.
Information in Ratan Tata’s legacy
According to the information that has come out in Ratan Tata’s legacy, his personal property is worth about Rs 10,000 crore. This includes his personal stake in the Tata group, his personal shares in many companies of the Tata Group, his own house, etc. The will mentions the share to be given to his family members, his dog, house staff and the non-profit trust created by him. Along with this, what will be the future of his investment has also been clarified.
Ratan Tata’s will states that the startup companies in which he has invested through RNT Associates and ANAT Avisors will be liquidated. That is, his investment or share holding in these companies will be terminated. The money that comes from this will be handed over to his non-profit trust Ratan Tata Endowment Foundation.
Investment in 18 startups
Let us tell you that Ratan Tata had personally invested in about 18 startups. These include companies like Ola, Ola Electric, Paytm, Snapdil, Tracxn, First Cry, Car Dekho, Cash Karo, Cure Fit, Blue Stone, Upperstocks, Urban Company, Urban Ladder and Moglix.
What is Ratan Tata Endowment Foundation?
Let us tell you that in the year 2022, Ratan Tata had formed the Ratan Tata Endowment Foundation. This is a Section-8 company, which is registered in Delhi. This company will work for non-profit causes. Ratan Tata’s foundation is in accordance with the Tata family tradition, where earlier also the members of the Tata family donated their property to the foundation.
This includes foundations like Sir Dorabji Tata Trust, Sir Ratan Tata Trust. Tata Trusts are formed by combining the property of these trusts, which holds the largest stake in Tata Sons, the holding company of the Tata Group. Tata Trusts are actually the owners of the entire Tata Group. Ratan Tata was the chairman of Tata Trusts during his lifetime, now after his death, Noel Tata has got this responsibility.
