Ratan Tata’s will: One-third to former employee, Alibaug property to close friend, ₹12 lakh for pets, ₹80 lakh for staff

Revered industrialist and former chairman of Tata Sons, Ratan Tata, bequeathed a significant portion of his personal wealth—estimated at ₹3,800 crore—to philanthropy, ensuring his legacy of giving extends beyond his lifetime, a report by The Economic Times says. His will, dated February 23, 2022, details the distribution of assets among family, close friends, and charitable foundations.

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, both dedicated to philanthropic initiatives. Additionally, Tata's secretary Ms Dilnaz Gilder will get Rs 10 lakh, while domestic helps and drivers -- Rajan Shaw & family and Subbaiah Konar -- will get Rs 50 lakh and Rs 30 lakh. 

Ratan Tata died on October 9, 2024.

Among the beneficiaries, Tata’s former Tata Group colleague Mohini M Dutta will receive one-third of his financial properties, estimated at ₹800 crore. His half-sisters, Shireen and Deanna Jejeebhoy, will inherit an equal share of these assets.

His Juhu bungalow has been divided between his brother Jimmy Tata (82), the sole surviving family heir, and other relatives, including Simone Tata and Noel Tata. Meanwhile, his Alibaug property has been left to close friend Mehli Mistry, whom Tata credited as being "instrumental in making this property possible."

₹12 lakh to support pets & waiving of loans

Tata’s love for animals also finds a place in his will. A corpus of ₹12 lakh has been set aside to care for his beloved pets, ensuring they receive ₹30,000 every quarter for their upkeep.

Additionally, Tata waived off an education loan given to his executive assistant, Shantanu Naidu, and an interest-free loan to a neighbour, Jake Malite.

₹40 crore in foreign assets & luxury watch collection

Tata’s foreign assets, worth approximately ₹40 crore, include land parcels in Seychelles, investments in companies like Alcoa Corp and Howmet Aerospace, and bank accounts with Wells Fargo and Morgan Stanley.

His will also lists 65 luxury watches from brands like Bvlgari, Patek Philippe, Tissot, and Audemars Piguet, in addition to silver articles and select jewelry.

The will, which includes four codicils (amendments made after signing), is now undergoing probate in the Bombay High Court, a legal process to validate its authenticity. Executors of the will—lawyer Darius Kambatta, Mehli Mistry, and Shireen and Deanna Jejeebhoy—must await the court’s certification before wealth distribution begins, which could take six months.