Ratan Tata net worth
Current Net Worth – 1.0 Billion (USD – 100 Crores), (Rupees – 7.7 Thousand Crores)
Ratan Tata short biography
| Net Worth | $1.0 Billion |
|---|---|
| Born | December 1937 (Age – 84) |
| Identified as | Chairman of Tata Sons |
| Status | Indian Industrialist |
| Education | Cornell University, Bachelor of Arts / Science |
| Nationality | Indian |
| Residence | Mumbai, India |
| Spousal status | Unmarried |
| Children | N/A |
Naval Ratan Tata has a net worth of around $1 Billion (Rupees – 7,755 Crores), making him one of the rich people in India.
His motto is not to become the richest man that’s why he holds only around less than 1% of his own Tata Sons group.
He is a former chairman of Tata Sons and an Indian industrialist and philanthropist. From 1990 to 2012, he served as chairman of Tata Group, and from October 2016 to February 2017, he served as acting chairman, and he continues to lead the company’s charitable trusts.
He was the brains behind the Tata Nano vehicle.
He got Tata Steel to buy Corus, Tata Tea to buy Tetley, and Tata Motors to buy Jaguar Land Rover.
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Ratan Tata biography
| Full Name | Naval Ratan Tata |
| Birthplace | |
| Height | 5.10 feet, 177 cm |
| Weight | 73 Kg |
| Father | |
| Mother |
Ratan Tata, the son of Naval Tata, was born on December 28, 1937, in Mumbai, Surat.
Hirabai Tata, the wife of group member Jamshedji Tata, was his biological maternal grandmother.
Ratan was a Tata by birth and his biological ancestor, Hormusji Tata, was a member of the Tata tribe.
He is the son of Naval Tata, who was adopted by Sir Ratan Tata, son of Jamsetji Tata, the founder of the Tata Group, and was born in 1937.
He has received 2 of India’s highest civilian honors, the Padma Vibhushan (2008) and Padma Bhushan (2009).
In 2011, Ratan Tata said, “I came close to getting married four times, and each time I backed off in fear or for some reason.”
Ratan Tata social media handles:
Tata posted on Instagram:
Education
Ratan Tata attended the Campion School in Mumbai until the 8th grade, then Cathedral and John Connon Schools in Mumbai, Bishop Cotton School in Shimla, and Riverdale Country School in New York City, where he graduated in 1955.
He earned a bachelor’s degree in architecture from Cornell University in 1959, and in 1975, he enrolled in Harvard Business School’s seven-week Advanced Management Program, which he has since endowed.
Career
J. R. D. Tata stepped down as chairman of Tata Sons in 1991, and he appointed Ratan as his successor.
As he began his new job, he encountered strong opposition from many company executives, some of whom had spent decades in their respective firms and had risen to positions of power and influence as a result of the right to work under JRD Tata.
During his 21 years as CEO of the Tata Group, turnover increased by more than 40 times, and profit increased by more than 50 times.
He took a risk and convinced Tata Motors to buy Jaguar Land Rover, Tata Tea to buy Tetley, and Tata Steel to buy Corus.
Tata is a multinational company as a result of all of this, with over 65% of earnings coming from operations and sales in over 100 countries.
On December 28, 2012, at the age of 75, Ratan Tata resigned his executive powers in the Tata group, naming Cyrus Mistry, the 44-year-old son of Pallonji Mistry of the Shapoorji Pallonji Group, the group’s largest individual shareholder, as his successor.
With his $2,200 Tata Nano, the world’s cheapest car, he made automotive history. Nano is dubbed “The People’s Car.” Environmentalists refer to it as an “eco-disaster” in a country with a billion people.
Tata put his personal savings into Snapdeal, one of India’s most popular e-commerce platforms, as well as, CashKaro.com, discount coupons, and cash-back website, and Teabox, an online luxury Indian tea retailer, in January 2016.
Tata Sons fired Cyrus Mistry
In past difficult times, entrepreneurs have displayed far sightedness and creativity that could not have been believed to exist. These became the flagpoles of innovation and new technology today. Read at https://t.co/x3JkEpMsQh pic.twitter.com/m0iF0cGzJ9
— Ratan N. Tata (@RNTata2000) May 11, 2020
On October 24, 2016, the board of directors of Tata Group voted to dismiss chairman Cyrus Mistry with immediate effect, appointing Ratan Tata as interim chairman, and Mistry was dismissed as a director of Tata Sons in February 2017.
Private & early life
When Naval and Sonoo divorced Ratan was 10 years old, he was raised by his grandmother, Navajbai Tata, the widow of Sir Ratanji Tata, who officially adopted him through the J. N. Petit Parsi Orphanage. Gujarati is his first language.
Ratan Tata recently revealed that while working in Los Angeles, he had a crush on one girl.
Since a member of his family was sick, he had to return to India, but the girl’s parents refused to let her accompany Tata.
As a result, Tata stayed true to his word and never married.
Philanthropy
- Tata is a leading philanthropist in India who supports education, medical facilities, and rural development.
- The Tata Education and Development Trust, a philanthropic arm of the Tata Group, has established a $28 million Tata Scholarship Fund to help Indian undergraduate students attend Cornell University.
- In 2010, Tata Group corporations and Tata charities contributed $50 million to Harvard Business School to provide an executive center.
- Tata Consultancy Services (TCS) has made the biggest corporate contribution to Carnegie Mellon University (CMU) for a computational system and autonomous vehicle testing center.
- In 2014, the Tata Group founded the Tata Center for Technology and Design (TCTD) at the Indian Institute of Technology, Mumbai, to evolve the design and engineering concepts.
- The Tata Group founded the MIT Tata Center of Technology and Design at the Massachusetts Institute of Technology (MIT).
Board membership
He was Tata Sons’ temporary chairman. With a joint stake of 66% in Tata Sons, the Tata group’s holding firm, he continues to lead the 2 largest Tata trusts, Sir Dorabji Tata Trust and Sir Ratan Tata Trust.
He has also served on the Harvard Business School India Advisory Board (IAB) since 2006, and on the Harvard Business School Asia-Pacific Advisory Board (APAB) between 2001 and 2006.
He was nominated to the Carnegie Endowment for International Peace’s Board of Trustees in 2013.
He sits on the Prime Minister’s “Council on Trade and Industry” as well as the “National Manufacturing Competitiveness Council.”
He is on the boards of Alcoa Inc., Mondelez International, and the East-West Center’s Board of Governors.
Ratan Tata made a return in October 2016, 4 months after Cyrus Mistry was ousted as chairman of Tata Sons, almost 4 years after he took over the reins of the over $100 billion conglomerate.
Natarajan Chandrasekaran was elected chairman of Tata Sons on January 12, 2017, and he assumed the position in February 2017.
Awards
Ratan Tata was awarded many honors, respectively to give him respect for his kindness and abilities.
These are some of the awards he received
| Year | Awards |
|---|---|
| 2001 | Honorary Doctor of Business Administration |
| 2004 | Honorary Doctor of Technology |
| 2005 | Honorary Doctor of Science |
| 2006 | Responsible Capitalism Award |
| 2007 | Carnegie Medal of Philanthropy |
| 2008 | Inspired Leadership Award |
| 2009 | Life Time Contribution Award in Engineering |
| 2010 | Business for Peace Award |
| 2012 | Grand Cordon of the Order of the Rising Sun |
| 2013 | Transformational Lead |
| 2014 | Honorary Doctor of Business |
| 2015 | Honorary Doctor of Automotive Engineering |
| 2016 | Commander of the Legion of Honor |
| 2018 | Honorary Doctorate |
