Ratan Tata turns 86: Here is a look at his life, net worth, and charities

 

Ratan Tata turns 86: Here is a look at his life, net worth, and charities

Ratan Tata was born on December 28, 1937, in Mumbai to Naval Tata and Sooni Tata. He attended the Campion School till 8th standard and thereafter studied at the Cathedral and John Connon School in Mumbai and the Bishop Cotton School in Shimla. Later, he went to Cornell University to study architecture and briefly worked with Jones and Emmons in Los Angeles before returning to India in 1962.

In the same year, he joined the Tata Group and worked with the Tata Steel division in Jamshedpur. Later on, he completed a management course at Harvard Business School in 1975. He took over as the chairman of the Tata Group in 1991.

Even though his name appears way below the list of the richest people in the country, Ratan Tata is known for his business empire and his strong work ethic.

Ratan Tata - Net worth

Ratan Tata had a net worth of ₹3,800 crore and held the 421st position on the IIFL Wealth Hurun India Rich List 2022. Before that, he held the 433rd position and had a net worth of ₹3,500 crore in 2021. A major reason behind this is that Tata Trusts contribute 66% of the total earnings made by the firms under the holding company Tata Sons towards charitable causes.

According to its official website, there are 29 publicly listed Tata enterprises with a combined market capitalization of $300 billion (₹24 trillion) as of July 31, 2023.

Charities

Tata Group's primary donor to charitable endeavors was Ratanji Tata, the younger son of Jamsetji Tata. Ratanji Tata had willed a large part of his property for charitable purposes, while the Sir Ratan Tata Trust was established with a corpus of ₹80 lakh in 1919. Currently, Tata Trust stands as one of the most illustrious and established charitable foundations in India.

The main promoter of the Tata group companies is Tata Sons. Philanthropic trusts that fund charities that support health, education, the arts and culture, and other causes own 66% of the equity shares of Tata Sons.

Under Ratan Tata's leadership, the Tata Group has played a pivotal role in improving healthcare and education in India.