Ratan Tata Biography
|Birth||28 December 1937|
|Age||86 years (on 2023)|
|Education||Cornell University Harvard Business School|
|Family||Naval Tata (Father) Sooni Commissariat (Mother)|
|Occupation||Former Chairperson of Tata Sons and Tata Group Philanthropist Investor|
|Title||Chairman Emeritus, Tata Sons and Tata Group|
|Successor||Cyrus Mistry (2012)Natarajan Chandrasekaran (2017–present)|
|Awards||Padma Vibhushan (2008)Padma Bhushan (2000)|
|Net Worth||Rs. 6000 crores|
|Famous Quotes||“I don’t believe in taking the right decisions. I take decisions and then make them right.” “Power and wealth are not two of my main stakes.”|
Ratan Tata 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.
Ratan Tata Education
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.
Ratan Tata 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 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 Work of Ratan Tata
Being a supporter of education, medicine, and rural development, Ratan Tata supported the University of New South Wales Faculty of Engineering to provide improved water for challenged areas.
Tata Education and Development Trust endowed a $28 million Tata Scholarship Fund that will allow Cornell University to provide financial aid to undergraduate students from India. The annual scholarship will support approximately 20 students at a given time.
Tata Group companies and Tata charities donated $50 million in 2010 to Harvard Business School (HBS) for the construction of an executive center.
Tata Consultancy Services (TCS) donated $35 million to Carnegie Mellon University (CMU) for a facility to research cognitive systems and autonomous vehicles. It is the largest ever donation by a company and the 48,000 square-foot building is called TCS Hall.
Also read: Biography of Mukesh Ambani
Biography of Dr. A.P.J. Abdul Kalam
Ratan Tata Awards
Ratan Tata was awarded many notable awards and honors. Some of them are mentioned below:
|2000||Padma Bhushan||Government of India|
|2008||Padma Vibhushan||Government of India|
|2001||Honorary Doctor of Business Administration||Ohio State University|
|2004||Medal of the Oriental Republic of Uruguay||Government of Uruguay|
|2004||Honorary Doctor of Technology||Asian Institute of Technology.|
|2005||International Distinguished Achievement Award||B’nai B’rith International|
|2005||Honorary Doctor of Science||University of Warwick.|
|2006||Honorary Doctor of Science||Indian Institute of Technology Madras|
|2006||Responsible Capitalism Award||For Inspiration and Recognition of Science and Technology (FIRST)|
|2007||Honorary Fellowship||The London School of Economics and Political Science|
|2007||Carnegie Medal of Philanthropy||Carnegie Endowment for International Peace|
|2008||Honorary Doctor of Law||University of Cambridge|
|2008||Honorary Doctor of Science||Indian Institute of Technology Bombay|
|2008||Honorary Doctor of Science||Indian Institute of Technology Kharagpur|
|2008||Honorary Citizen Award||Government of Singapore|
|2008||Honorary Fellowship||The Institution of Engineering and Technology|
|2008||Inspired Leadership Award||The Performance Theatre|
|2009||Honorary Knight Commander of the Order of the British Empire (KBE)||Queen Elizabeth II|
|2009||Life Time Contribution Award in Engineering for 2008||Indian National Academy of Engineering|
|2009||Grand Officer of the Order of Merit of the Italian Republic||Government of Italy|
|2010||Honorary Doctor of Law||University of Cambridge|
|2010||Hadrian Award||World Monuments Fund|
|2010||Oslo Business for Peace award||Business for Peace Foundation|
|2010||Legend in Leadership Award||Yale University|
|2010||Honorary Doctor of Laws||Pepperdine University|
|2010||Business for Peace Award||Business for Peace Foundation|
|2010||Business Leader of the Year||The Asian Awards.|
|2012||Honorary Fellow||The Royal Academy of Engineering|
|2012||Doctor of Business honoris causa||University of New South Wales|
|2012||Grand Cordon of the Order of the Rising Sun||Government of Japan|
|2013||Foreign Associate||National Academy of Engineering|
|2013||Transformational Leader of the Decade||Indian Affairs India Leadership Conclave 2013|
|2013||Ernst and Young Entrepreneur of the Year – Lifetime Achievement||Ernst & Young|
|2013||Honorary Doctor of Business Practice||Carnegie Mellon University|
|2014||Honorary Doctor of Business||Singapore Management University|
|2014||Sayaji Ratna Award||Baroda Management Association|
|2014||Honorary Knight Grand Cross of the Order of the British Empire (GBE)||Queen Elizabeth II|
|2014||Honorary Doctor of Laws||York University, Canada|
|2015||Honorary Doctor of Automotive Engineering||Clemson University|
|2015||Sayaji Ratna Award||Baroda Management Association, Honoris Causa, HEC Paris|
|2016||Commander of the Legion of Honour||Government of France|
|2018||Honorary Doctorate||Swansea University|
|2021||Assam Baibhav||Government of Assam|
Ratan Tata 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.
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.
Ratan Tata Social Profile
FAQs Related to Ratan Tata
Who has become the first non Parsi chairman of TATA Sons?
TCS MD and CEO, N Chandrasekaran has been appointed Chairman of TATA Sons. He is expected to take charge on Feb 21, 2017.
Who has been nominated as Chairman of Board of Directors of TATA Power?
Tata Power has said that S Padmanabhan has been nominated as chairman of the board of directors of the company.
Which Indian business leader was awarded the highest honour by the city of Coventry on 1st October 2015?
Coventry on 1st October 2015 honoured Ratan Tata with the highest award – Honorary Freeman of the City of Coventry. Since 1914, only 13 people have been conferred with the award.