We come across a lot of articles every now and then, listing the richest persons in the world. A number of people from our country keep making it on the list and maintaining the same. Although we acquire similar knowledge everywhere but have you ever thought about these sets of information to be completely correct? There are people who have established a very successful business or have carried their powerful legacies pretty well. One such person is Ratan Tata. Why is Ratan Tata is not the Richest person in India?
We all know about the ventures of the Ambani family, Mittal family, and the Birla family. But surprisingly Tata group makes a turnover which is far beyond the figures made by the above-mentioned companies.
The Tata Group which is owned by the principal holding company Tata Sons. Reported a whopping 113 billion $ equivalent revenue, in the financial year of 2019.
Who is Ratan Tata ?
We all know Ratan Tata as the former chairperson of the Tata Sons. He was born as Ratan Naval Tata on the 28th of December 1937. The great Indian industrialist and philanthropist. He was the chairperson of Tata Group, from 1990 to 2012, too.
Sir Tata is the great-grandson of Sir Jamsetji Tata who is the founder of Tata Group. And the scion of the Tata family. He is an alumnus of Harvard Business School. Also, he has completed the Advanced Management Program in 1975 and Cornell University College of Architecture.
Then he joined the company in the year 1962. He was the successor of J. R. D. Tata who retired in the year 1991. During Ratan Tata’s reign of 21 years, the profit grew over 50 times and the revenue, over 40 times. For instance, In his reign he got Tata Motors to acquire Jaguar Land Rover,. Tata tea to acquire Tetley and Tata Steel to acquire Corus.
Similarly, he is an admired philanthropist and has received the two highest civilian awards in India. The Padma Bhushan and the Padma Vibhushan. He supported the University of New South Wales Faculty of engineering to develop capacitive deionization. It was for providing improved water for underdeveloped areas.
A little about the Tata Group and it’s deeds.
Tata group is an Multinational conglomerate originated in India. It’s headquarter is in Mumbai, Maharashtra, India. It was founded by Jamsetji Tata in the year 1868, and gained recognition globally post purchasing several global companies. The group provides products and services in over 150 countries and operates in 100 countries across 6 continents. The Tata Group has more than 100 operating countries out of which 29 countries are publicly listed in India. It is India’s third largest employer with nearly 700 k employees, post the Indian Railways and Indian defence forces.
A philanthropic affiliate of Tata Group, the Tata Education and Development Trust, endowed a 28 million dollars. Scholarship fund to help Cornell University in providing financial aid to UG students from India. This will provide financial aid and support at least 20 scholars, approximately at any given point of time. And will ensure that the best of the best students have access to Cornell University, regardless of their financial conditions. The scholarship is awarded annually and the recipient receives the scholarship for the duration of their UG study. Tata charities and Tata Group companies donated around 50 million dollars for the construction of an executive centre.
Why is Ratan Tata not the richest person in India?
However, In most cases regarding large businesses, the leaders or founders are amongst the richest in the world. Surprisingly, in the case of Tata Group, neither Ratan Tata (the former chairman). Or any other family members of the Tata family appear in the list of wealthiest beings in India.
This is contrasting to other Indian businesses persons owning businesses, which rank below the Tata Group in size. For instance, Bharti Group, Aditya Birla Group, Reliance. Industries and a lot of other business persons whose ranks are above than Ratan Tata.
Therefore none of the profits made by the company have any impact on Ratan Tata’s individual finances. And rather goes to various charitable organisations. Surprisingly his net worth never crosses the mark of 1 billion dollars.
His great philanthropy & charities.
Not just charities, the Tata Group also ensures the wellness of their employees. They introduced medical facilities, maternity leaves, a modern pension system, maternity leaves. And a lot more for the welfare of all the employees throughout India.
Post the attack of 26/11 in Mumbai, India, Rata Tata took care of the employees while the hotel was dysfunctional. He ensured that the employees received their pay checks through out. He also ensured they receive compensation at the police stations, market vendors, railways, etc.
Ratan Tata, announced, he will invest 70 million $ in the construction of Tata Institute of Genetics and Society, Bengaluru. Which will help to eradicate malaria from India by modifying the genetics (DNA) of the Anopheles mosquitoes. (malaria causing mosquitoes) to make the country free of this fatal disease. Ratan Tata would be this Institution’s trustee.
Ratan Tata is not probably the richest man but he is definitely one of the greatest people in India. He has proved many times that none of the “Richest men in India” list can make a person rich but their actions do. We extremely admire him for all his deeds and contribution to the world to make it a better place.
In conclusion, “What I would like to do is to leave behind a sustainable entity of a set of companies that operate in an exemplary manner in terms of ethics, values and continue what our ancestors left behind” – Ratan Tata.