Ratan Tata
In India, we have many personalities who belong to a widely rich family and are well recognized globally. Our country is ranked 3rd after US and China when it comes to the richest persons in the country. And thanks to them as they not only generate the revenue but also pay a lot to boost our country’s economy and serve our society by funding through trust they established. In this article, we will take a detailed look at one such personality, i.e., Ratan Naval Tata, who has a huge impact on our country’s overall development. We will discuss major aspects like his early life, his career, net worth, controversies he faced, and more.
Who is Ratan Naval Tata?
Ratan Naval Tata is presently Executive Chairman of Tata Sons, the Tata Group’s parent organization, which owns Tata Consultancy Services, Tata Motors, Tata Power, Indian Hotels, Tata Steel, and Tata Teleservices. He was nurtured and grown-up by his grandmother when his parents divorced while he was only ten years old, and after graduating from college, he got actively involved in the family-owned company. In 1962, he started his job as an employee at Tata Steel, where he learned about his family’s company.
He dominated for many years in his field and still contributing with full intensity. He was the chairman of Tata Group from 1990 to 2012 and interim chairman from October 2016 to 2017, and after that, he went on to manage the company’s charity trusts. He was awarded the Padma Vibhushan in 2008 and the Padma Bhushan in 2000, two of India’s highest civilian prizes. It is a glimpse that we have discovered about him so far. Let’s get deep into the detail now.
Early Life
On December 28, 1937, Ratan Tata was born to Naval and Sonoo Tata in Bombay. Ratanji Tata, Jamsetji Tata’s younger son, adopted Naval Tata as his son. When Ratan was ten years old, his parents divorced. His grandmother, Navajbai Tata, reared him and his half-brother, Noel Tata.
He went to Campion School in Bombay (then) till 8th grade, then moved to Cathedral and John Connon Schools in Bombay and Bishop Cotton School in Shimla for further academic activities. After finishing his academic education, in 1955, he graduated from Riverdale Country School placed in New York City. After four years at Cornell University, he earned a bachelor’s degree in architecture. He enrolled in the seven-week Advanced Management Program at Harvard Business School in 1975, which he has been financially supporting yet.
Career
He began his career as a mining worker from his own firm in 1962, which is somewhat stunning. Along with the other laborers, he shoveled stones and worked on the furnaces. It was physically difficult work, but it taught him more about his parent’s business and helped him value it. Ratan took over as chairman of Tata Sons after J.R.D. Tata stepped down in 1991.
Due to the freedom to operate under JRD Tata, he had to encounter significant opposition from the CEOs of several organizations, who proceeded to become highly strong. Although, he overcame all those resistance. Research, or innovation, was given a high emphasis under his administration, and the younger generation was handed the majority of the tasks.
Tata Group prospered the greatest during his supervision of 21 years, with revenues rising by 40% and profit increasing by 50%. His daring investments of major multinational corporations like Jaguar, Tetley & Land Rover, and Corus Steel, among others, significantly influenced the Indian industrial sector and the global industrial sector.
Ratan Tata Wife
“I got quite close to being married four times, and each time I pulled out in fear or for one reason or another,” Ratan Tata said in 2011. He fell in love with the girl while living in Los Angeles, but then he had to return to India as a member of his family fell sick. At the same time, her parents had prohibited her from visiting India. And thus, Tata hasn’t married since swearing to keep his promise.
Major Contribution
- Ratan Naval Tata with his team leads to acquiring international exposure and a reputation for his business as Chairman of the Tata Group. Under his leadership, the firm also grew into a multinational company by purchasing companies such as Jaguar, Tetley, Land Rover, and Corus. The Tata Group was listed on the New York Stock Exchange due to its remarkable business success.
- He was a key figure in developing the Tata Nano and Tata Indica We can understand his dedication to the work that he tried to do even for the common people, as he introduced TATA NANO so that it could be affordable to most households.
- One of his life’s main aims was to improve the quality of life for Indians while also advancing human growth. He is also a well-known philanthropist, with charity trusts accounting for almost 65 percent of his holdings. We will see those contributions in detail below.
Philanthropic Works
Ratan Naval Tata is a tremendous businessman who is also quite involved in social issues. He is a prominent philanthropist in India who supports learning, medical, and agricultural improvement. Tata aided the Faculty of Engineering at the University of New South Wales in developing capacitive deionization to enhance water quality in underserved regions. Let’s look at a few more such activities done by him.
- In 2010, Tata Group enterprises and Tata charities gave $50 million to Harvard Business School to establish an executives center (HBS). Thus, the name of the executive center is decided to name after Ratan Tata and thus named Tata Hall. For Reminder, it was the same business school from which Ratan Tata previously did his seven weeks Advance Management Program.
- TCS Hall, a 48,000 square-foot structure, was built with a $35 million donation from TCS. TCS has made the largest single corporate philanthropy to Carnegie Mellon University (CMU) for intelligent systems and automated vehicle research center.
- The Tata Education and Development Trust, a charitable component of the Tata Group, has established a $28 million Tata Fundraising Campaign, which will enable Cornell University to offer financial help to Indian undergrads.
- The Tata Trusts, led by Ratan Tata, gave a gift of 750 million to the Indian Institute of Science’s Centre for Neuroscience to explore the factors that cause Alzheimer’s disease.
List of Companies Owned by Ratan Tata’s TATA
The Tata Group’s subsidiaries are run separately, with their BOD and investors managing the company. We will discuss a few of those subsidiaries in short. So let’s get started.
1. Tata Consultancy Services:
In 1968, one of the world’s largest IT service-based organizations was created, and it hasn’t looked back since. It employs 5,09,058 people and has its headquarters in Mumbai. Chennai is home to another TCS campus. It is the world’s largest IT services provider according to enterprise value.
2. Jaguar Land Rover:
Many people are unaware that an Indian company owns this premium car brand. William Lyons started it in 2008, and its headquarters is in England. It is a subsidiary of Tata Motors Limited. It employs 39,787 people and generates a revenue of Rs. 2298.4 crores.
3. Tata Steel Limited:
Steel is the most common metal on the planet. In the year 1907, Tata Steel Limited commenced production. Jamsetji Tata established the company, which was established in Mumbai for the first time. This international steel-making corporation is headquartered in Jamshedpur, India, and is one of the largest steel-making corporations in the world for now. It is also characterized as the steel producer with the broadest geographic coverage.
4. Titan Company Limited:
It’s nearly difficult not to be aware of Titan Company Limited if you enjoy accessories like sunglasses and watches. Xerxes Desai launched it in 1984, making it one of India’s top personal accessory manufacturers. Bengaluru is home to the company’s headquarters, which employs more than 7500 people.
5. Tata Power Company Limited:
Dorabji Tata created the electric utility enterprise in 1911, and it is one of the major subsidiaries of the Tata Group. This corporation is in charge of energy generation, transmission, and distribution. It is the country’s largest integrated power company. The company’s headquarters are in India, with 8613 workers.
When you reside in India, the Tata Group’s goods/services are part of your everyday life. For more than 150 years, it has served the globe, particularly the residents of India, and has promised to continue doing so in the future for the long term.
Net Worth
Mr. Ratan Tata’s net worth is one billion dollars or around 7416 crore rupees in Indian currency. Mr. Ratan Tata’s entire net worth comprises a significant amount of money from many sources. Even though Ratan Tata is not included in the list of billionaires because charity organizations control 65 percent of TATA Sons, which is also the holding company for the other 96 TATA Group subsidiaries companies. As a result, Ratan Tata’s 65 percent ownership of Tata Sons Limited is not recorded on his financial statement but rather on the financial statements of several philanthropic organizations.
Other Assets
Tata’s House: Mr. Ratan Tata’s residence is in Mumbai, India. He is the owner of many properties in India. In the year 2015, he purchased this luxurious residence. This Real Estate Property is estimated to be worth Rs. 150 crores.
Ratan Tata’s Automobiles: Mr. Tata has huge cars collections. He is the proud owner of a number of the world’s most prestigious premium vehicles. Maserati Quattroporte, Ferrari, Mercedes-Benz, Honda Civic, Range Rover, Chrysler Sebring, Jaguar, Cadillac XLR, and Buick Super 8 are among the car brands owned by Mr. Ratan Tata.
Awards & Achievements
- He was given the Padma Bhushan, India’s third-highest civilian honor, in 2000.
- He received an Honorary Fellowship from the London School of Economics and Political Science in 2007.
- In 2008, he received the ‘Padma Vibhusan,’ India’s second-highest civilian honorary title.
- In 2009, the Government of Italy presented upon him the title of “Grand Officer” of the Order of Merit of the Italian Republic.
- The Business for Peace Foundation’s ‘Oslo Business for Peace Award’ was awarded in 2010.
Learning, That We Can Have From Ratan Tata
We can learn to be unrestrained by boundaries. Despite strong opposition, Ratan Tata promoted international trade. And now, international earnings account for half of Tata’s total revenue. Jaguar Land Rover, Tetley, and Taj Boston were all bought by Tata under his tenure. This was more than a business transaction, it was a signal to the world that an Indian corporation can buy major multinational companies if it desires so.
He began his career at Tata Steel as a blue-collar worker. He is well-known for his modesty, which can be seen on several occasions. He visited the 80 employees whose families were impacted by the terrorist attacks on November 26, 2008. He knew almost everyone’s first name and was never rude.
He is a person who makes decisions. “I don’t believe in making the correct judgments,” he once said. I make judgments and then correct them. He is a daredevil. He has taken significant decisions, such as introducing the Tata Nano and owning Europe’s second-largest steel producer. Many such examples are being created by him, which can give us a lesson to make big changes.