Ratan Tata | life story

Ratan Tata 

RATAN TATA

RATAN TATA  (born 28 December 1937) is an Indian industrialist, investor, philanthropist, and a former chairman of Tata Sons who serves as its chairman emeritus. He was also chairman of Tata Group, from 1991 to 2012, then served again, as interim chairman, from 24 October 2016 through February 2017, and continues to head its charitable trusts. He is the recipient of two of the highest civilian awards of India – Padma Vibhushan (2008) and Padma Bhushan (2000).

 He is an alumnus of the Cornell University College of Architecture, and Harvard Business School.

Ratan Tata Early life

·         He was born on December 28, 1937, in Surat, India, to Naval Tata. Naval Tata was the adopted son of the Jamsedji Tata’s younger son Ratanji Tata. Jamsedji Tata was the founder of the Tata Group of Companies. Ratan Tata has a brother, Jimmy, and a step-brother, Noel Tata.

·         When he was ten, his parents got separated and thereafter, he and his brother were brought up by his grandmother, Navajbai Tata.

·         He received his early education from the Campion School, Mumbai and finished his schooling from the Cathedral and John Connon School, Mumbai. In 1962, he obtained his B.S. in architecture with structural engineering from Cornell University, U.S.A.

·         Later he got enrolled at the Harvard Business School and completed an Advanced Management Program in 1975.

Career

·         In 1962, he started his career with the Tata Steel division where he shovelled stones and worked with the furnaces along with the blue-collar employees. It was a difficult job and helped him gain a better understanding and respect for his family business.

·         In 1971, he was appointed as the Director-in-Charge of the National Radio & Electronics Company Limited (NELCO) in order to help its struggling finances. He worked towards building a better consumer electronics division but the economic recession and union strikes prevented him from achieving success.

·         In 1977, he was moved to Empress Mills, a struggling textile mill within the Tata Group. He proposed a plan for the mill but the other Tata executives rejected it and the mill was shut down. Later, he was moved to the Tata Industries.

·         In 1991, J.R.D. Tata appointed him as the new Chairman of the Tata Group of Companies. This decision came under scrutiny following objections from other executives of the company and questions were raised regarding his ability to run the corporation.

·         But he succeeded in improving the financial success of the industries and expanded the growth of the organization under his leadership. He transformed the management and vision of the division and managed to bring in significantly larger dividends.

·         He also became a member of the Prime Minister's Council on Trade and Industry. He served on the advisory board of the RAND's centre for Asia Pacific Policy and is also an active participant in India's AIDS initiative program.

·         He also holds the membership of the international advisory board of the Mitsubishi Cooperation, the American International Group, JP Morgan Chase and Booze Allen Hamilton.

·         On his 75th birthday, i.e, on 28 December 2012 he resigned from the post of Chairman of Tata Group and was succeeded by Cyrus Mistry, managing director of Shapoorji Pallonji Group. Even after retirement, he is still an active businessman and invests in upcoming promising business

Venture.

Ratan Tata Awards and achievements

n 2000, he was conferred the Padma Bhushan, the third highest civilian honour awarded by the Government of India.

In 2004, he received the ‘Medal of the Oriental Republic of Uruguay’ from the Government of Uruguay.

In 2005, he was conferred the ‘International Distinguished Achievement Award’ by the B'nai B'rith International.

In 2007, he has conferred the Honorary Fellowship of The London School of Economics and Political Science.

In 2008, he was awarded the ‘Padma Vibhusan’, the second highest civilian honour awarded by the Government of India.

In 2009, he received the ‘Award of 'Grand Officer' of the Order of Merit of the Italian Republic’ from the Government of Italy.

In 2009, he was awarded the title of Honorary Knight Commander of the Order of the British Empire, United Kingdom.

In 2010, he won the ‘Oslo Business for Peace Award’ presented by the Business for Peace Foundation.

In 2014, he has conferred the ‘Honorary Knight Grand Cross of The Order of the British Empire’.

Personal Life & Legacy  and lifestyle

Ratan Tata is a bachelor. He is known for his low profile lifestyle. He resides in a simple house in Mumbai and drives around in a Tata Sedan.

NET WORTH

If we put this 65% ownership of Tata Sons in Ratan TATA's own personal financial statement then Ratan Tata's Net worth can become more than $ 70 billion. and that's much more than the Warren Buffet's Current Net Worth of $ 62 billion, the world's richest person according to Forbes magazine 2008.

BUT,

In present times the actual net worth of Ratan Tata is just 1 billion $.