Ratan Tata and philanthropy are synonymous, like salt in the ocean: so pervasive, natural and endless. The man who established an empire with kindness at the heart of it all made sure that, even in death, generosity would be his enduring legacy.
Ratan Tata’s will has disclosed how he split his wealth, and philanthropy occupied the biggest chunk, according to The Economic Times.
The best way to find yourself is to lose yourself in the service of others.
Mahatma Gandhi
The industrialist, who died on 9 October, 2024, left most of his money — including shares at Tata Sons — for charitable purposes. He also did not neglect his family, close friends, staff and even his beloved pets.
The devil is in the details, but first, Ratan Tata’s will includes a no-contest clause. It provides that any challenge to the will “shall forfeit all the rights or benefits” under it. “He or she shall have no right whatsoever over any part of my estate,” Tata’s will states, according to The Times of India report.
Majority of Their Wealth Donated to Charity
Ratan Tata donated a large part of his estimated wealth of Rs 3,800 crore to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. Both are charitable organisation that will spend the money on philanthropic purposes.
Apart from its shares in Tata Sons, Tata also held a portfolio of other stocks, financial instruments and real estate. His will, signed on Feb. 23, 2022, has four codicils — legal documents that make changes to a will. The last codicil also notes that if there are any undivided shares, investment properties or other assets not specifically designated to the charitable trusts, they will also go to the charities.
Ratan Tata’s Generous Bequests to Family and Close Associates
While charity was uppermost in Tata’s mind, he bequeathed one-third of his other property — bank fixed deposits (FD), stock, and valuables worth Rs 800 crore — to his half-sisters Shireen Jejeebhoy and Deanna Jejeebhoy.
One-third of these assets were given to Mohini M Dutta, a former Tata Group employee close to Ratan Tata.
His 82-year-old sibling, Jimmy Naval Tata, was a beneficiary of the Ratan Tata’s will as well. He will inherit a portion of Tata’s Juhu bungalow, silver articles and some jewellery.
Legacy is not leaving something for people. It’s leaving something in people.
Peter Strople
His close friend Mehli Mistry was bequeathed Tata’s Alibaug property and three guns, a 25 bore pistol. Mistry’s will said he had been “instrumental in making this property happen,” expressing a hope it would rekindle memories of happy times the family had shared.
The Ratan Tata’s will is being carried out by an attorney by the name of Darius Kambatta, and also by Mehli Mistry, Shireen Jejeebhoy, and Deanna Jejeebhoy.
Already they have filed a petition for probate of the Ratan Tata’s will in the Bombay High Court. Probate is a legal procedures in which a court validates the will of a deceased person and gives the executors permission to distribute the estate according to the instructions. It could take six months before any wealth gets disbursed.
Ratan Tata’s Heartfelt Legacy: Remembering His Pets and Staff
Tata’s fondness for animals was no secret, and his will bears it out. He established a fund of Rs 12 lakh for his pets in light of this, which ensures that each receives Rs 30,000 every quarter for their welfare.
Moreover, Tata forgave loans that he had lent him:
His trusty executive assistant, Shantanu Naidu, had taken a student loan that will be now written off.
His neighbour, Jake Malite, had received an education loan at no interest which too is being waived.
Tata’s foreign assets are worth around Rs 40 crore, according to court papers. These include land plots in Seychelles, bank accounts with Wells Fargo and Morgan Stanley, stakes in Alcoa Corp and Howmet Aerospace.
His personal collection of expensive watches was also included in the will. The collection includes 65 watches from brands including Bvlgari, Patek Philippe, Tissot and Audemars Piguet.
Ratan Tata has ceded his land in Seychelles to RNT Associates Singapore, one of his business companies. His will protects the respective interests in RNT Associates India and RNT Associates Singapore of R Venkatraman and Patrick McGoldrick.
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FAQs on Ratan Tata’s Will
1. How much of Ratan Tata’s fortune is being donated to charity?
According to reports, the majority of Ratan Tata’s estimated ₹3,800 crore fortune will be donated to charity.
2. Who are the beneficiaries of Ratan Tata’s will?
The main beneficiaries include various charitable causes, as well as provisions for his pets and staff members.
3. Is Ratan Tata giving away all of his wealth?
While the exact percentage is not specified, reports indicate that the majority of his fortune will be donated, not the entire amount.
4. How has Ratan Tata included his pets in his will?
Ratan Tata has reportedly made provisions for the care and well-being of his pets in his will, though specific details are not publicly known.
5. What kind of charitable causes might benefit from Tata’s donation?
While specific charities haven’t been named, Tata has historically supported education, healthcare, and rural development causes.
6. How does this decision align with Ratan Tata’s past philanthropic activities?
This decision is consistent with Tata’s long-standing commitment to philanthropy and social causes throughout his career.
7. Are there any details about how Tata’s staff will benefit from the will?
Specific details about staff benefits are not public, but the will reportedly includes provisions for Tata’s employees.
8. How does Ratan Tata’s decision compare to other wealthy individuals’ philanthropy?
Tata’s decision to donate the majority of his wealth aligns with similar pledges made by other billionaires globally.
9. Will this donation impact the Tata Group’s operations?
No, this donation is from Ratan Tata’s personal wealth and should not directly impact the Tata Group’s business operations.
10. When will the details of Ratan Tata’s will be fully disclosed?
The complete details of the will may not be made public, as wills are often kept private unless contested or voluntarily disclosed.
