The Ratan Tata Endowment Trust and the Ratan Tata Endowment Foundation provide greater wealth for charity and charity work.
What is the “no competition clause” in the will left by industrialist Ratan Tata?
The billionaire business tycoon left his huge personal fortune worth Rs 38 billion. The Ratan Tata Endowment Trust and the Ratan Tata Endowment Foundation provide greater wealth for charity and charity work. This wealth is in the form of preferred stock and common stock.
Who are Deanna Jejeebhoy and Shireen Jejeebhoy?
In addition, Ratan Tata is willing to provide one-third of his assets such as watches and financial instruments to his half-sisters, Deanna Jejeebhoy and Shireen Jejeebhoy.
Mohini Mohan Dutta’s Ratan Tata’s Tata Group loyalist and Close Costidante were left with a third of its wealth.
The largest assets in the will include 3,368 shares of Tata Son, a holding company of the $165 billion Tata Group. It is worth Rs 1684 crore.
Pets 1.2 lakh
Ratan Tata left Rs 1.2 lakh for his beloved pet, who received Rs 30,000 every three months.
Billionaire industrialist demands that the loan be abandoned to its executive assistant Shantanu Naidu. He also requested interest-free education loans to his neighbor, Jake Malite.
Latan’s younger brother Jimmy Tata will inherit half of Juhu’s property, and the rest will be owned by Noel Tata and Simone Tata.
However, the most controversial issue in the will is the “no competition clause.”
No competition terms
According to the Economic Times, will contains a clear instruction that any beneficiary who competes with content will eventually lose his/her inheritance in the Ratan Tata property. There are about 24 beneficiaries in the will.
The will read: “I hereby direct that in any way compete or challenge my last will, all rights or benefits under my will, shall be waived and shall not receive any inheritance that I may be bequeathed to that person, and he or she will have no right in any part of my property.”
