Ratan Tata, the industrialist and Chairman Emeritus of Tata Sons, turns 85 today, December 28. He is a business tycoon, motivational speaker, and philanthropist. He believes in doing business with humanity and has dedicated a large portion of his wealth to societal well-being.
Ratan Tata was born in Mumbai on December 28, 1937, to Naval Tata and Sooni Tata. In 1959, he attended Cornell University to study architecture and structural engineering, and in 1962, he returned to India after briefly working with Jones and Emmons in Los Angeles.
Ratan Tata joined the Tata Group in 1962, starting with the Tata Steel division in Jamshedpur.
He graduated from Harvard Business School’s management program in 1975.
Ratan Tata was appointed chairman of the Tata Group in 1991.
Ratan Tata took the initiative to expand his company internationally when globalization was a novel idea in India.
In just 9 years, starting with Tata Tea’s acquisition of Tetley in 2000, he acquired about 36 businesses. To date, the three most notable acquisitions in India are Tata Steel’s purchase of Anglo-Dutch steelmaker Corus, Tata Tea’s acquisition of Tetley, and Tata Motors’ purchases of British automaker Jaguar and Land Rover.
His Net worth
IIFL Wealth Hurun India Rich List estimated Ratan Tata’s net worth to be Rs 3,500 crore last year. It may surprise some that he was listed as the 433rd richest person in the nation. His extensive charitable work through the trusts and charitable organizations run by the Tata Group is the cause of his low ranking.
Most of the donations to the Tata Group’s charitable endeavors came from Ratanji Tata, Jamsetji Tata’s younger son. He left a sizable portion of his estate to charitable organizations, and in 1919 the Sir Ratan Tata Trust was founded with an initial corpus of Rs. 80 lakhs.
Tata Trust is one of India’s most prestigious and established charitable foundations.
The main promoter of Tata Group companies is Tata Sons, and charitable trusts that support the arts, culture, health, and other causes own 66% of Tata Sons’ equity shares. Under Ratan Tata’s direction, the Tata group has significantly helped India overcome current problems in the fields of healthcare and education, among others.