Ratan Tata’s will reflects his generosity: Employees among top beneficiaries
Revered industrialist and former chairman of Tata Sons, Ratan Tata, ensured that his legacy of generosity would continue beyond his lifetime. According to a report by The Economic Times, Tata's will, dated February 23, 2022, outlines a remarkable distribution of his personal wealth—estimated at ₹3,800 crore—to philanthropy, close associates, and family.
A lion’s share of Tata’s estate, including his Tata Sons shares, has been allocated to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust, reinforcing his lifelong commitment to social causes. However, one of the most notable aspects of his will is his decision to bequeath one-third of his financial properties, approximately ₹800 crore, to his former Tata Group colleague, Mohini M. Dutta. This rare act underscores his deep appreciation for those who played a role in his journey.
Beyond his corporate empire, Tata has always been known for his humility and loyalty to those who worked alongside him. His will reflects this sentiment by ensuring financial security for several long-time associates. His secretary, Ms. Dilnaz Gilder, has been left ₹10 lakh, while his domestic helps and drivers—Rajan Shaw & family and Subbaiah Konar—will receive ₹50 lakh and ₹30 lakh, respectively.
His half-sisters, Shireen and Deanna Jejeebhoy, will inherit an equal share of his financial assets, while his Juhu bungalow has been divided among his brother Jimmy Tata, the only surviving family heir, and other relatives, including Simone Tata and Noel Tata. Tata's Alibaug property has been left to his close friend Mehli Mistry, whom he credited with making the property possible.
Tata's love for animals also finds a place in his will. He set aside ₹12 lakh to ensure the continued care of his beloved pets, providing them with ₹30,000 every quarter for their upkeep. Furthermore, he waived off an education loan given to his executive assistant, Shantanu Naidu, and an interest-free loan to his neighbor, Jake Malite, reflecting his lifelong generosity.
Beyond his Indian assets, Tata's foreign wealth, valued at approximately ₹40 crore, includes land parcels in Seychelles, investments in companies such as Alcoa Corp and Howmet Aerospace, and bank accounts with Wells Fargo and Morgan Stanley. His will also details an extensive collection of 65 luxury watches from prestigious brands like Bvlgari, Patek Philippe, Tissot, and Audemars Piguet, along with silver articles and select jewelry.
Tata's will includes four codicils—amendments made post-signing—and is currently undergoing probate in the Bombay High Court. The process, necessary for authenticating and executing the will, could take up to six months. The executors of his will—lawyer Darius Kambatta, Mehli Mistry, and his half-sisters, Shireen and Deanna Jejeebhoy—must await the court’s certification before distribution begins.
Ratan Tata, who passed away on October 9, 2024, was a titan of industry and a leader with an unwavering commitment to people. His will not only safeguards his philanthropic vision but also honors those who stood by him, embodying the values of integrity, loyalty, and kindness. In a world where wealth often remains confined within families, Tata’s decisions serve as a testament to his extraordinary character and unwavering belief in giving back.