Ratan Naval Tata, known for his immense contribution to business and philanthropy, was born on December 28, 1937, in Mumbai and passed away on the night of October 9, 2024, at the age of 86, in a hospital in Mumbai. Tata’s early life shaped his values of resilience and determination. Raised by his grandmother, Navajbai Tata, he grew up surrounded by the principles of hard work and humility, which would later guide his journey in life and business.
After completing his degree in architecture from Cornell University, Ratan Tata returned to India in 1962 to join the Tata Group. His career began on the shop floor, giving him hands-on experience across various Tata enterprises. In 1971, he took charge of National Radio and Electronics Co. (Nelco) and later, in 1981, became the chairman of Tata Industries. In 1991, he succeeded the legendary JRD Tata as the chairman of Tata Sons.
Under Ratan Tata’s leadership, the Tata Group transformed from a small textile and trading company into a global powerhouse. He expanded the conglomerate into industries like steel, automobiles, telecommunications, and software, with notable acquisitions such as Tetley Tea in 2000, Corus Group in 2007, and Jaguar Land Rover in 2008. These moves increased the group’s global footprint and solidified Tata Group’s reputation as a leader in multiple sectors.
Philanthropy has been at the core of Ratan Tata’s career. Inspired by his great-grandfather, Jamshetji Tata, who believed that business should contribute to the community, Ratan Tata has been deeply involved in charitable activities. Under his leadership, the Tata Trusts, which were established by his ancestors, continued to drive social initiatives, supporting healthcare, education, and social welfare across India.
His philanthropic efforts include initiating the Aga Khan Hospital and Medical College project in the 1970s, which grew into one of India’s leading healthcare institutions. His involvement in the Tata Trusts ensured the growth of institutes like the Tata Institute of Social Sciences and contributed to numerous educational projects.
According to the IIFL Wealth Hurun India Rich List 2022, Ratan Tata ranked 421 with an estimated net worth of ₹3,800 crore. The chairmen of Tata Group have passed on their wealth to Tata Trusts, which hold two-thirds of the shares in Tata Sons. Around 60% of the dividends from Tata Sons are used for charitable causes.
During Ratan Tata’s leadership, Tata Trusts established and improved 10 cancer care centres across Assam, Jharkhand, Andhra Pradesh, and Karnataka. These centres provide world-class treatment to people who cannot afford it.
Supporting Start-ups and Innovation
In recent years, Ratan Tata turned his focus to supporting young entrepreneurs and investing in tech-driven start-ups. Through his personal investments and his company, RNT Capital Advisors, Tata invested in over 30 start-ups, including Ola Electric, Paytm, Snapdeal, Lenskart, and Zivame. His investments are helping shape the future of India’s technology and business landscape.
A Lover of Animals and Humanity
Ratan Tata’s generosity extended beyond people. As a dog lover, he ensured that stray dogs near Tata Group’s headquarters in Mumbai, Bombay House, were given shelter. Some of these dogs never left a testament to his compassion and care for all living beings.
Ratan Tata stepped down as chairman of Tata Sons in 2012 after leading the conglomerate for over 2 decades. He handed over the reins to Cyrus Mistry, who was later removed in 2016 due to their differences in key decisions. Following Mistry’s departure, Tata took over as interim chairman until 2017, when Natarajan Chandrasekaran was appointed as the new chairman.
Bold decisions and a vision for the future marked Ratan Tata’s leadership. His legacy is not only in the growth of Tata Group but also in how he led with a sense of integrity, always prioritising the community’s welfare over personal gain.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Published on: Dec 28, 2024, 8:04 AM IST
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