Late Industrialist Ratan Tata’s will has been revealed recently which corroborates with his philanthropic legacy. The will, signed on February 23, 2022, allocates the majority of his estimated Rs 3,800 crore estate to charitable causes.
Shri Ratan Tata passed away on October 9, 2024, at the age of 86. He signed the will on February 23, 2022, keeping philanthropy as a central focus while still providing for family, friends, staff, and even his beloved pets.
A Fortune Dedicated to Social Good
True to his lifelong commitment to giving back to society, Tata directed the lion’s share of his wealth—including his valuable Tata Sons shares—to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. These charitable organisations will continue his legacy of supporting education, healthcare, rural development, and innovation across India.
His final will included four codicils—legal amendments—with the last one ensuring that any unallocated shares, investments, or assets would likewise flow to these philanthropic trusts.
This final act of generosity aligns perfectly with Tata’s established pattern of philanthropy. Under his leadership, the Tata Trusts contributed significantly to social causes, including a remarkable Rs 1,500 crore pledge during the COVID-19 pandemic. The trusts he led were recognised in a 2021 report as the world’s top philanthropic foundation, having donated more than $102.4 billion.
As one of India’s most respected industrialists, Tata once articulated his philosophy that businesses should create wealth for the nation and foster societal progress. In a 1996 interview, he emphasised that philanthropy must “strengthen self-help” rather than merely distributing charity—a principle evident in the strategic focus of his giving.
Personal Connections Not Forgotten
While charity dominates his will, Tata also ensured that those close to him were cared for. His half-sisters Shireen and Deanna Jejeebhoy will receive one-third of his personal assets valued at approximately Rs 800 crore, including bank fixed deposits, financial instruments, watches, and paintings. Another third goes to Mohini M Dutta, a former Tata Group employee who was particularly close to him.
His 82-year-old brother Jimmy Naval Tata inherits a share of Tata’s Juhu bungalow along with silver articles and jewellery, while close friend Mehli Mistry receives his Alibaug property and three guns, including a .25 bore pistol. Tata noted in his will that Mistry was “instrumental in making this property possible” and hoped it would evoke memories of their shared experiences.
In a touching gesture that highlights his well-known love for animals, Tata established a Rs 12 lakh fund to ensure his pets receive Rs 30,000 quarterly for their ongoing care. He also demonstrated personal generosity by waiving loans previously given to his executive assistant Shantanu Naidu and neighbour Jake Malite.
The executors of the will—lawyer Darius Kambatta, Mehli Mistry, and the Jejeebhoy sisters—have filed for probate in the Bombay High Court, a process that may take up to six months before any wealth distribution begins. The document includes a no-contest provision, stipulating that anyone challenging the will forfeits all benefits.
Ratan Tata’s final testament stands as perhaps his most eloquent statement on the purpose of wealth—not mere accumulation, but thoughtful distribution for the greater good, with care for those who shared his journey.
