Ratan Tata, revered not only as a business magnate but as a benevolent philanthropist, has left an indelible legacy in India and worldwide. Known for his immense popularity due to his compassion and generosity, his passing on October 9 at the age of 87 has rekindled public admiration and intrigue about his life’s work and final wishes. Recent revelations about his will illustrate his profound humanitarian spirit and commitment to both his close associates and the broader public welfare.
With Ratan Tata’s passing, the Tata Group underwent a leadership transition, appointing his half-brother, Noel Tata, as chairman of the Tata Trusts. Following this change, the general public grew curious about who would inherit Tata’s personal wealth, given that he had no spouse or direct heirs. As per the Hurun India Rich List, his net worth was estimated at approximately 7,900 crore INR, placing him at the 350th position among India’s wealthiest. Despite not being among the country’s richest, Ratan Tata’s assets have always been a topic of interest, mainly due to his impactful philanthropic contributions.
Provisions in Ratan Tata’s Will
Ratan Tata had meticulously planned the distribution of his wealth before his demise, entrusting the execution of his will to a select group of trusted individuals. The will, now made public, discloses various heartfelt allocations, underscoring his magnanimous character.
One of the most touching aspects of his will concerns his German Shepherd, Tito. Known for his affection for animals, Tata had left specific provisions for Tito’s lifelong care, ensuring he receives the best possible attention and treatment. This gesture has been met with admiration, especially given that it is still rare in India to include pets in inheritance arrangements, a practice more common in the West. This provision was made all the more poignant given Ratan Tata’s history with Tito, whom he adopted after the death of his previous pet six years ago.
Tata’s love for animals extended far beyond his pets. He was instrumental in establishing India’s first 24-hour animal hospital in Mumbai, recognizing the need for continuous veterinary services after a trip to Minnesota to treat one of his own pets. This facility, supported by Tata Group, has become a crucial resource for pet owners in the city, showcasing Tata’s dedication to animal welfare.
Recognizing Caretakers and Close Associates
Beyond Tito, Ratan Tata’s will thoughtfully acknowledges the contributions of those who cared for him. He remembered his chef, Rajan, and his aide, Subbiya, granting them significant bequests. Rajan is also entrusted with Tito’s care, reflecting Tata’s confidence in him. Additionally, his longtime companion and younger friend, Shantanu Naidu, was generously included in Tata’s final arrangements. Naidu, a close associate of Tata in recent years, received support for his start-up, “Goodfellows,” along with funds for further education abroad. Their bond remained strong until Tata’s final days, with Naidu referring to him as his “lighthouse” and expressing a deep sense of loss at his passing.
Allocations for Family Members
Ratan Tata also considered his family members in his will, designating portions of his assets to his younger brother, Jimmy Tata, who, like Ratan, remained unmarried. His two half-sisters, Shirin and Diana, also received shares of his property. The remainder of his assets were bequeathed to the Tata Foundation, furthering his commitment to social causes and community welfare.
Among Ratan Tata’s personal assets is a two-story house on Juhu Tara Road in Mumbai, a 2,000 square-foot bungalow, a 350-crore fixed deposit, and a 0.83% stake in Tata Sons. He also owned a seaside residence in Colaba, Mumbai, estimated to be worth approximately 150 crores. His impressive car collection includes models from Mercedes-Benz to Tata’s own Nano, highlighting his love for both luxury and innovation. The Tata Group may acquire or auction this car collection, which could ultimately benefit the Tata Foundation or fund other charitable causes.
Philanthropy: The Defining Legacy of Ratan Tata
Ratan Tata’s relatively modest personal wealth in comparison to other industrialists is primarily due to his extensive philanthropy. He consistently directed a significant portion of his income toward social welfare initiatives. The Tata Trusts, which he helped expand, have made substantial contributions to education, healthcare, and rural development. His will designates Shirin and Diana Jijibhoy, along with attorney Darius Khambata and friend Mehli Mistry, as executors, ensuring his legacy lives on as per his wishes.
In summary, Ratan Tata’s will reflects the selflessness that defined his life. His thoughtful consideration for his pet, caretakers, close friends, and extended family underlines his compassionate nature, while his dedication to philanthropy solidifies his standing as an exemplary figure in India’s business history. Through this last act, Tata not only honors his values but leaves a roadmap for future generations of leaders to follow, one marked by empathy, humility, and service.