Ratan Tata's passing on October 9, 2024, marked the end of an era for India’s corporate landscape. However, the values he embodied throughout his life—integrity, compassion, and philanthropy—continue to resonate strongly in his posthumous actions. Through his will, Tata ensured that his legacy would remain firmly rooted in charitable efforts, as his immense fortune is primarily directed toward philanthropy.
The latest revelations about Tata’s will provide a profound insight into his character. It is clear that, while he was a business tycoon who built one of India’s most iconic companies, the Tata Group, his primary concern was always the welfare of others. The Economic Times reported that the majority of Tata’s wealth, estimated to be around Rs 3,800 crore, has been allocated to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. These organisations will be the custodians of his wealth, ensuring that it serves the greater good through charitable causes.
This immense philanthropic gesture is not a new development for Tata, who has long been associated with significant charitable work, including contributions to healthcare, education, and community welfare. He was known for his hands-on involvement with numerous causes, and his personal involvement in philanthropic initiatives set him apart from other business leaders. Through his will, Tata ensured that his wealth will continue to serve these causes, empowering future generations to benefit from the resources that were amassed during his career.
In a major shift from the traditional inheritance practices seen in many wealthy families, Tata chose to prioritize charitable causes over family inheritance. His will specifies that a substantial portion of his assets, including shares in Tata Sons, stocks, and other investments, will be transferred to the two charitable organisations he founded. These foundations will focus on addressing pressing social issues and supporting projects that align with Tata’s values.
Despite the significant philanthropic allocations, Tata did not neglect his loved ones. His half-sisters, Shireen and Deanna Jejeebhoy, will each receive one-third of his other assets, valued at approximately Rs 800 crore. This includes various investments, fixed deposits, stocks, and other valuable items. The will also specifies that close confidant Mohini M Dutta, a former Tata Group employee, will inherit a portion of his wealth, underscoring the deep trust Tata placed in Dutta, who was a long-time member of the Tata family.
Tata's brother, Jimmy Naval Tata, will receive a part of his Juhu bungalow, as well as some of Tata's silver items and jewellery, highlighting the personal nature of the will. His close friend Mehli Mistry, who was instrumental in the development of Tata's Alibaug property, will inherit that estate and some of Tata’s personal items, including three firearms, which reflect the long-standing friendship between the two.
One of the most touching elements of Tata’s will is his provision for his pets. It is well-known that Tata was a lover of animals, and in recognition of his beloved pets, he set aside Rs 12 lakh for their care. This thoughtful gesture, ensuring that each pet would receive Rs 30,000 per quarter, reflects Tata's deep affection for his animals and his desire to ensure they would be well-cared for in his absence.
Moreover, Tata’s kindness extended beyond family and friends, as he also waived the loans he had previously extended to those close to him. Shantanu Naidu, his executive assistant, had taken a student loan, which Tata has now written off. Likewise, Jake Malite, a neighbour who had received an interest-free education loan, will also benefit from Tata's generosity. These actions underscore Tata’s personal touch in the lives of those he worked with, offering support beyond financial means.
Tata’s international assets, which include land holdings in Seychelles and accounts with major global financial institutions such as Wells Fargo and Morgan Stanley, are also addressed in his will. These foreign assets, valued at around Rs 40 crore, have been entrusted to RNT Associates Singapore, a company closely tied to Tata's business ventures. This ensures that his international interests will be preserved and maintained in accordance with his wishes.
In addition to his real estate and financial investments, Tata’s personal collection of luxury watches was another key component of his will. With 65 high-end timepieces, including renowned brands like Patek Philippe, Audemars Piguet, and Bvlgari, his collection reflects not only his impeccable taste but also his appreciation for the finer things in life. These watches, now part of his estate, may be preserved and shared in a manner that aligns with Tata’s own sense of style and legacy.
The probate process for Tata’s will is currently underway, with the executors of the estate, including lawyer Darius Kambatta, close family members Mehli Mistry, Shireen Jejeebhoy, and Deanna Jejeebhoy, working to ensure that the will’s instructions are executed as per Tata’s wishes. They have already filed a petition with the Bombay High Court, which will validate the will and initiate the distribution process. This legal process may take up to six months before the assets are fully distributed, with each beneficiary and charity receiving their share according to Tata’s directives.
Ratan Tata’s will provides a striking example of the power of wealth when combined with compassion. His fortune, which could have easily been used for personal gain or transferred to family members, will instead benefit countless individuals and causes. This remarkable decision reinforces the notion that true wealth is measured not by the size of one’s bank account, but by the positive impact one can have on the world.
The generosity embedded in Ratan Tata’s final wishes serves as a powerful reminder of his values and the enduring legacy of his leadership. By entrusting his wealth to charitable causes, Tata has ensured that his influence will continue to positively affect society, long after his passing. His life, both in business and philanthropy, serves as a model for future generations, showing that success is not only about accumulation but about making a difference. Through his actions, Tata has proven that his commitment to helping others was not a passing sentiment, but a lifelong dedication to making the world a better place for everyone.
