Ratan Tata Leaves Majority Of His Wealth To Charity: Report

Late industrialist Ratan Tata has left the bulk of his estimated wealth of Rs 3,800 crore to philanthropy through the Ratan Tata Endowment Foundation (RTEF) and the Ratan Tata Endowment Trust (RTET). The organisations will collectively receive a major portion of his estate, including ordinary and preference shares, reported The Economic Times.

In addition to these allocations, the businessman earmarked one-third of his financial assets, amounting to Rs 800 crore, for his half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, the report said. Another one-third has been designated for Mohini M Dutta, a former Tata Group executive with whom Tata shared a close association.

A defining feature of Ratan Tata’s will is the inclusion of a no-contest clause, which strictly penalises any individual who disputes the document’s legitimacy. “I hereby direct that whosoever contests or challenges this last will of mine in any manner shall forego all the rights or benefits under my will and shall not get any legacy that I may have bequeathed to that person and he or she shall have no right whatsoever over any part of my estate,” the will, signed on February 23, 2022, stated.