Ratan Tata’s estate, estimated to be worth around Rs 3,800 crore, will primarily benefit the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust, organizations dedicated to charitable and philanthropic efforts, according to a report from The Economic Times.
The late industrialist’s will, dated February 23, 2022, outlines a significant portion of his assets being allocated to these two foundations to continue his legacy of philanthropy. This includes Tata Sons’ ordinary and preference shares, as well as other financial assets.
However, Tata’s estate is not solely focused on charitable causes. A third of his other financial assets, which include fixed deposits, financial instruments, and valuable possessions such as art and luxury timepieces, estimated at Rs 800 crore, will be distributed among his close family and associates. His half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, along with Mohini M. Dutta, a former Tata Group employee, will share these assets.
Tata’s brother, Jimmy Naval Tata, will inherit a portion of the family’s Juhu bungalow, while close friend Mehli Mistry is set to receive the Alibaug property along with Tata’s cherished collection of three firearms, including a .25-bore pistol.
A fourth codicil in the will outlines that any unlisted stocks, shares, and assets not otherwise specified will be equally distributed between the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust.
As part of the probate process, executors of the will—lawyer Darius Kambatta, Mehli Mistry, and Tata’s sisters Shireen and Deanna Jejeebhoy—have filed a petition in the Bombay High Court. The probate process, which confirms the authenticity of the will and authorizes the distribution of the estate, is expected to take around six months.
Tata’s will also ensures his pets are well cared for after his passing, allocating Rs 12 lakh for their upkeep. Each pet will receive Rs 30,000 per quarter.
In addition, Tata’s executive assistant, Shantanu Naidu, will have his student loan waived, while neighbor Jake Malite is set to benefit from an interest-free education loan.
Tata’s estate also includes foreign assets, such as Rs 40 crore in property located in Seychelles, alongside bank accounts at Wells Fargo and Morgan Stanley. Furthermore, Tata’s collection of 65 luxury watches, including brands like Bvlgari, Patek Philippe, Tissot, and Audemars Piguet, is part of his estate.
Ratan Tata’s land holdings in Seychelles will be transferred to RNT Associates Singapore, with specific instructions to protect the interests of shareholders R Venkatraman and Patrick McGoldrick in RNT Associates India and Singapore.
Tata’s brother, Jimmy Tata, will also inherit silverware and jewelry, along with half of the Juhu property, which Ratan Tata inherited from his father, Naval H Tata. The remainder of the Juhu property will be shared between Simone Tata and Noel Tata.
Ratan Tata passed away on October 9, 2024, leaving behind a remarkable legacy in both the business and philanthropic worlds.