Ratan Tata's Will: A Testament to Generosity and Simplicity

A Legacy of Generosity

Ratan Tata is synonymous with success, philanthropy, and a commitment to human values. His will, however, reveals a profound simplicity that stands out in stark contrast to the typical pursuits of wealth among business magnates. While many focus on amassing fortunes for their families, Tata chose to allocate a significant portion of his estate to his employees, associates, and even his beloved pet dog, leaving only ₹2500 for his own funeral.

Support for Employees and Associates

The will of Ratan Tata exemplifies his unwavering dedication to his employees. He bequeathed substantial amounts to his domestic staff, office personnel, and long-time colleagues, forgiving debts and ensuring financial security for many. Long-serving employees received ₹15 lakh each, while part-time workers were granted ₹1 lakh.

Caring for His Pet

Tata's kindness extended beyond humans; he allocated ₹12 lakh for the care of his pet dog, Tito, ensuring that his furry companion would be well looked after.

Generous Rewards for Loyal Staff

In recognition of their loyalty, Tata rewarded his staff handsomely. His cook, Ranjan Shaw, received ₹1 crore, with ₹51 lakh forgiven. Butler Subbaiah Konar was given ₹66 lakh, with ₹36 lakh waived, while his secretary, Delnaz Gilder, was awarded ₹10 lakh.

Educational Support and Neighborly Kindness

Tata also demonstrated his commitment to education by forgiving a ₹1 crore loan for his young executive assistant, Shantanu Naidu, to pursue an MBA at Cornell University. Additionally, he waived a ₹23.7 lakh loan for his neighbor, Jake Malete.

Family Considerations

While Tata prioritized his employees and those in need, he also took care of his family. His brother, Jimmy Tata, inherited a property valued at ₹16 crore in Juhu, Mumbai, and his half-sisters received one-third of his total wealth, which included bank deposits amounting to ₹385 crore.

Friends and Trusts Included

Among his bequests, Tata's close friend, Mehli Mistry, received a property worth ₹6.2 crore in Alibaug, along with some of his firearms. Furthermore, he allocated 70% of his stake in the Tata Group to the Ratan Tata Endowment Foundation (RTEF) and 30% to the Ratan Tata Endowment Trust (RTET).

A Humble Farewell

Throughout his life, Ratan Tata emphasized simplicity and humanity, a principle reflected in his will. He left only ₹2500 for his funeral, underscoring that the welfare of others was far more important to him than material possessions.

Conclusion

 PC:Punjab Kesari