Ratan Tata’s Rs.3,800 Crore Will: Leaves Rs.1 crore to cook, Rs.10 lakh to Secretary
Ratan Tata's will reveals that his ?3,800 crore estate will be largely donated to charity, with portions allocated to family, friends, staff, and pets, reflecting his philanthropic legacy.
Renowned businessman and former Chairman of Tata Group, Ratan Tata, passed away on 9th October 2024, after battling old-age-related health issues. His death, announced by ISH News, has sparked widespread attention, especially regarding the distribution of his vast estate, valued at over ?3,800 crore.
Ratan Tata's will, which includes assets ranging from shares to luxury items, has gone viral. The largest portion of his wealth, ?1,684 crore, is in the form of 3,368 shares in Tata Sons. These shares will be donated to charities, including the Ratan Tata Endowment Foundation (RTEF), which will receive 70%, and the Ratan Tata Endowment Trust (RTET), which will receive the remaining 30%.
A significant part of his wealth, around ?800 crore, has been left to his half-sisters, Shireen and Deanna Jejeebhoy. This includes financial assets and valuable items like watches and paintings. His close friend, Mohini M Dutta, will also receive part of his estate.
Tata’s brother, Jimmy Naval Tata, will inherit a share of his Juhu bungalow, valued at ?16 crore. The rest will go to his step-brother, Noel Tata, and step-mother, Simone Tata. Jimmy is also set to inherit Tata's jewellery. Despite his wealth, Jimmy leads a modest life in a 2BHK apartment in Colaba, Mumbai.
Ratan Tata's close friend, Mehli Mistry, will receive an Alibaug property worth ?6.16 crore, along with three guns, including a .25 bore pistol. The will also includes a ?3 crore allocation for Tata’s household staff, with ?15 lakh to be distributed to long-serving domestic servants.
Tata’s deep love for animals is reflected in his will, which sets aside ?12 lakh for his pets. Each pet will receive ?30,000 every three months for their care, with his German Shepherd Tito to be cared for by his cook, Rajan Shaw.
The will also clears Tata’s loans, including a ?1 crore student loan to his Executive Assistant Shantanu Naidu and ?18 lakh to his driver, Raju Leon. His personal clothes will be donated to NGOs for the underprivileged.
Court papers show that Tata’s assets include ?367 crore in local bank accounts, ?40 crore in Seychelles property, and shares in foreign companies like Alcoa Corp. He also owned 11 cars, 65 luxury watches, and other valuable items, worth ?12 crore.
Ratan Tata’s will includes a no-contest clause, meaning anyone challenging it will forfeit their share. The will is currently awaiting approval from the Bombay High Court, with the distribution process expected to take up to 6 months.
The executors of Tata's will—lawyer Darius Kambatta, Mehli Mistry, Shireen, and Deanna Jejeebhoy—will receive ?5 lakh each for their role in executing the will. Tata's first will was written in 1996 and amended in 2009, with the final version being signed in February 2022.
As per reports, Tata’s charitable legacy continues to shine through even after his passing, making a lasting impact on society.
