India’s top industrialist, philanthropist Ratan Tata

By Samyuktha R

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“With time diminishes one’s billions

But his good deeds will remain in the hearts of millions”

The most successful businessman whose net worth can surpass many billionaires in the world but still his name does not come under the world’s richest people’s rankings. This would be puzzling to many people. In reality such a person exists and he is none other than Ratan Tata.

Recalling his tender age:

Ratan Tata was born on 28th December,1937 and his father was Naval Tata who was the adopted son of Ratanji Tata, the owner of the Tata group. When Ratan Tata was just ten years old, his parents got separated and he was brought up by his grandmother. He graduated from Riverdale Country School in New York City in the year 1955 and then he received a degree in architecture from Cornell University. He also attended the Advanced Management Program for seven weeks in the Harvard Business School in 1975.

His New Role:

J.R.D Tata in 1991 announced Ratan Tata as his successor of the Tata Sons. When Ratan Tata came to power, he faced many objections from heads of different companies who rose to fame working under J.R.D Tata. Later Ratan Tata sorted out all the oppositions by bringing in a retirement age and also gave importance to young talent who were encouraged to bring up new innovative ideas.

The Success Journey:

Ratan Tata, as the head of the Tata group, led many successful ventures in the business world. The profit grew fifty times over and the revenue increased forty times more. Not only that he made the Tata group gain international recognition. Now the Tata Group has been extended into a large franchise and owns companies like

Tata coffee Limited

Tata Motors Limited

Tata Steel Limited

Tata Chemicals Limited

Tata Consultancy Services

Tata Communications Limited

Tata Investment Corporation Limited

Tata Consumer Products Limited

and the list goes on and on.

Ratan Tata not only made a mark in the Indian Business but also globally placed the Tata group among the top companies of the world by buying many foreign brands like

Tetley

Jaguar Land Rover

British Steels 

Corus

Tata’s humiliation and his determination to succeed:

In 1998, Tata stepped into the automobile world by launching the Tata Indica Car, but the venture turned into a failure. Then Ratan Tata was recommended to sell the vehicle to Ford. But Ratan tata faced humiliation at the Ford Headquarters at the time of negotiation and returned back without signing the deal. This did not deter the determination of Ratan Tata who later with persistence and hard-work produced the most successful cars that India has never ever seen before. In 2008, the same Ford company was facing bankruptcy and was searching for a suitable buyer for their Jaguar-Land Rover automobile. Now Ratan Tata steps in to buy their brand and not only that, he turns it into another profitable venture in the automobile industry.

Concern towards common people:

Ratan Tata always thought of how his business ventures can develop the lifestyle of common people. One such major incident is the making of a car worth just one lakh which is affordable for the common people to buy. This idea rose in Ratan Tata’s mind when he saw a family consisting of two children, wife and husband traveling in a two-wheeler on a rainy day. Though Ratan Tata was able to keep his promise by making a car at such a low price, the automobile never touched the profit mark. Still this incident proves the fact that Ratan Tata thinks how he could develop the lives of common people with the ventures he is making in the business world.

A man with a Golden Heart:

Ratan Tata has been keen on supporting the developments in the sectors like education, medicine and rural areas. The Tata group runs a charitable trust, named Tata Education and Development Trust under which many charitable works are done for the poor and needy.

Tata provided $28 million as the Tata Scholarship Fund to provide financial aid for Indian UnderGraduate students studying in Cornell University.

$50 million was donated by the Tata Company for constructing an executive center at Harvard Business School.

Tata Group provided $950 million to IIT Bombay to form Tata Center for Technology and Design.

In 2020, Rs.1500 crore was pledged by Ratan Tata and Tata Group to support the fight against Covid-19.

The Answer to the Puzzling Question:

Ratan Tata has a total net worth around one billion and does not rank in the Billionaire’s list in spite of being the most successful person in the world. The reason is 65% of the fortune earned by the family and the company is donated to many charitable trusts around the world and is never added to his personal fortune. Ratan Tata is truly a philanthropist who has contributed to many good causes in India as well as around the world.

Conclusion:

Ratan Tata may not be ranked among the billionaire’s around the world but definitely he is a billionaire by heart for the generous acts he continues to do. 

By Samyuktha R

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