Who are Shireen Jejeebhoy and Deanne Jejeebhoy, recipient of Rs 800 crore assets including watches and paintings, in Ratan Tata's will

Ratan Tata has left most of his wealth, estimated at around Rs 3,800 crore, to charity. This includes shares in Tata Sons and other assets. The money will go to the Ratan Tata Endowment Foundation, a Section 8 company, and the Ratan Tata Endowment Trust.

He gave one-third of his other financial assets- such as bank deposits, investments, and valuable items like watches and paintings, worth around Rs 800 crore—to his half-sisters, Shireen and Deanna Jejeebhoy. Another third was given to Mohini M. Dutta, a former Tata Group employee and close associate.

His only surviving brother, 82-year-old Jimmy Naval Tata, will receive part of the Juhu home. His close friend Mehli Mistry will inherit the Alibaug property and three of Tata’s firearms, including a .25-bore pistol.

According to The Economic Times, the executors of the will have asked the Bombay High Court to approve it through a legal process called probate. The will, dated 23 February 2022, includes four codicils (legal updates made after signing).

The last codicil states that the Ratan Tata Endowment Foundation and Ratan Tata Endowment Trust will receive equal shares of other investments and assets not specifically mentioned elsewhere.

Probate is a legal process where the court confirms that a will is valid. Only after this process - expected to take around six months—can the assets be distributed. The executors of the will are lawyers Darius Kambatta, Mehli Mistry, Shireen Jejeebhoy, and Deanna Jejeebhoy.

Ratan Tata, who passed away on 9 October 2024, also set aside Rs 12 lakh for his beloved pets, with Rs 30,000 to be given every quarter for their care. He also forgave an interest-free education loan given to his neighbour Jake Malite and the student loan of his executive assistant, Shantanu Naidu.

Court documents show that apart from Rs 4 lakh in cash, Ratan Tata had around Rs 367 crore in bank deposits and fixed deposits in India and about Rs 40 crore in foreign assets. These included land in Seychelles, bank accounts with Wells Fargo and Morgan Stanley, and shares in companies like Alcoa Corp and Howmet Aerospace.

His assets also included 65 luxury watches from brands like Bvlgari, Patek Philippe, Tissot, and Audemars Piguet.

He left his land in Seychelles to RNT Associates Singapore and ensured that R. Venkatraman and Patrick McGoldrick’s interests in RNT Associates India and RNT Associates Singapore were protected as shareholders.