Ratan Tata's Will: Who Gets What? Shantanu Naidu, Dog Tito And Others

Industrialist Ratan Tata, who died on Oct. 9 last year, has allocated most of his Rs 3,800 crore wealth to philanthropic causes in his will. Signed on Feb. 23, 2022, the will includes a no-contest clause and restricts the sale of his stake in Tata Sons. Tata, who was known for his love for animals, has named his pets as beneficiaries along side several of his aides, Economic Times reported.

Here’s a look at who gets what in Ratan Tata’s will:

The bulk of Ratan Tata’s estate, including his Tata Sons shares, has been bequeathed to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. These entities will receive 70% and 30% of Ratan Tata’s holdings, respectively, ensuring continued support for charitable initiatives. The will strictly prohibits the sale or transfer of these shares, except to existing Tata Sons shareholders.

Ratan Tata’s half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, have each been allocated one-third of his financial assets, valued at around Rs 800 crore. This includes bank deposits, financial instruments and collectibles such as watches and paintings.

Mohini M Dutta, a former Tata Group employee who had a close association with Ratan Tata, has also been named as a key beneficiary. She will receive one-third of his residual estate, excluding shares in Tata and non-Tata companies.

Tata’s longtime executive assistant, Shantanu Naidu, has been granted significant financial relief. A student loan of Rs 1 crore that Naidu had taken for his MBA at Cornell University has been completely waived.

True to his love for animals, the late industrialist has ensured in his will that his beloved German Shepherd, Tito, is well cared for. Tata set aside Rs 12 lakh for Tito’s upkeep, with Rs 30,000 allocated every quarter. According to the will, Tito will continue to be looked after by Rajan Shaw, Tata’s longtime cook.

Longtime friend Mehli Mistry has been bequeathed Tata’s Alibaug property, valued at Rs 6.16 crore, along with three guns. 

The will includes a vast collection of luxury items, including 11 cars, 65 watches, 21 timepieces and 52 pens, collectively valued at Rs 12 crore. These will be distributed among various beneficiaries.

Additionally, Ratan Tata’s half-brother Jimmy Tata will inherit a family property in Juhu, Mumbai, worth Rs 16 crore, along with his jewellery.

The executors of the will, including Tata’s half-sisters, Mehli Mistry and Tata Trusts trustee Darius Khambata, will each receive Rs 5 lakh for their efforts in carrying out Tata’s final wishes.

Tata’s will contains a strict no-contest clause, preventing any beneficiary from legally challenging its provisions. The clause states that any individual contesting the will forfeits all inheritance rights.