Ratan Tata Property: The late industrialist Ratan Tata’s estate, valued at approximately Rs 3,800 crore, will be allocated among his family, close friends, and colleagues. According to a report from The Economic Times, a significant portion of his wealth will be directed to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust, which will continue his philanthropic initiatives.
Who are the primary recipients?
Major allocation to charitable trusts: In accordance with Ratan Tata’s will, dated February 23, 2022, the majority of his financial assets, including shares in Tata Sons and various investments, will be transferred to these trusts. These funds will support education, healthcare, and social welfare, ensuring that his commitment to social service endures.
What did family members receive? Ratan Tata has allocated a substantial portion of his estate, valued at ₹800 crore, to his family. His step-sisters, Shirin Jejeebhoy and Diana Jejeebhoy, along with former Tata Group employee Mohini M. Dutta, will inherit bank deposits, financial investments, art collections, and valuable watches. His brother, Jimmy Naval Tata, will receive a share of the family’s Juhu bungalow, along with silver utensils and some jewelry, which he will share with Simone Tata and Noel Tata.
Provisions for close friends and associates: Ratan Tata’s close friend, Mehli Mistry, will inherit the Alibaug property and a collection of three firearms, including a .25-bore pistol. Additionally, Shantanu Naidu, Tata’s assistant, will have his education loan forgiven, while neighbor Jake Malete will receive an interest-free education loan.
International Assets: Ratan Tata’s wealth also spanned beyond India. His overseas assets included real estate valued at Rs 40 crore in Seychelles, bank accounts with Wells Fargo and Morgan Stanley, and shares in Alcoa Corp and Howmet Aerospace. Furthermore, he owned a collection of 65 luxury watches from renowned brands such as Bulgari, Patek Philippe, Tissot, and Audemars Piguet.
Pets in Focus
Ratan Tata had a deep affection for animals. In his will, he made provisions to ensure that his beloved pets would receive proper care even after his passing. He allocated ₹12 lakh for this purpose, allowing each pet to receive ₹30,000 every quarter.
To manage the distribution of Ratan Tata’s estate, the executors of the will—advocates Darius Kambata, Mehli Mistry, Shirin Jejeebhoy, and Diana Jejeebhoy—have submitted a petition to the Bombay High Court. The probate process is anticipated to take around six months to finalize. Any assets not specifically mentioned in the will will be equally divided between the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust.