Ratan Tata’s will, dated February 23, 2022, outlines the distribution of his estate and includes a key clause: anyone who contests the will will forfeit their rights to any part of his estate. The late industrialist’s will names several beneficiaries, including his brother Jimmy Tata, half-sisters Shireen Jejeebhoy and Deanna Jeejeebhoy, and former confidant Mohini Dutta. His foundations, the Ratan Tata Endowment Foundation (RTEF) and the Ratan Tata Endowment Trust (RTET), also receive significant portions of his estate.
The value of Ratan Tata’s estate is estimated at Rs 3,900 crore, including his 3,368 shares in Tata Sons, valued at Rs 1,684 crore. These shares will be split between his two foundations, with 70% going to RTEF and the remainder to RTET. Tata Sons shares, as per the will, cannot be sold or transferred except to existing Tata shareholders.
Mohini Dutta, who was bequeathed one-third of Tata’s residual estate, has raised concerns over the value of her share, though it is clarified that contesting the will would trigger the forfeiture clause. Ratan Tata’s will also mentions various assets, including his 11 cars, 65 luxury watches, and paintings, estimated at Rs 12 crore, and specifies how they will be divided.
The executors of Tata’s will, which include his half-sisters and long-time associates, will be compensated for their efforts with Rs 5 lakh each. Additionally, Tata’s shares in Tata operating companies like TCS and Tata Motors will be shared equally between RTEF and RTET, while his foreign assets, including a Seychelles land worth Rs 85 lakh, will go to RNT Associates Pte, a fund in Singapore. The will also reflects Tata’s deep concern for ensuring continuity in the interests of his associates in both India and abroad.
