Hello viewers, hope you had a very fine weekend. Today we are discussing India’s one of the most successful businessman, Ratan Tata of Tata Sons. Ratan Tata’s Age, bio, wiki and net worth is discussed below.
Ratan Tata was born December 28, 1937, in Surat in what was formerly British India. After studying at Cornell University and the Harvard Business School, he returned to India to join the family business a multi-billion dollar conglomerate holding company named Tata group. In 1991 he became the chairman of the Tata Group and its holding company named Tata Sons. The company’s profits and global reach soared during this time of leadership with many profitable acquisitions including Jaguar Land Rover chorus and Tatler T.
The Tata group is now India’s largest conglomerate with 30 publicly listed companies with a combined market valuation of about 130 billion dollars. Ratan Tata himself has a net worth of around eight hundred and thirty million dollars. But this valuation would be in the tens of billions of dollars if he wasn’t so dedicated to his philanthropic endeavors Tata retired in 2012 at the age of 75 but briefly returned as the chairman of Tata Sons from October 2016 to February 2017. He is now focused primarily on his charitable interests.
Ratan Tata is notoriously private but we think he deserves a closer look because of the incredible difference he has made in India and other areas of the world as well as his personal success in running one of the most profitable conglomerates of our time. So let’s take a closer look at the 15 Things You Didn’t Know About Ratan Tata.
1. Ratan Tata Turned Down IBM’s Job Offer
He turned down a job at IBM to join the family business working on the shop floor of Tata Steel. in 1961 Tata was offered a job at IBM but instead decided to start his career on the shop floor of the family business. Tata Steel even though he carries the family name he had to earn his spot in the company by shoveling limestone and handling the blast furnace.
However, I feel the main reason is deep down below he knew that someday he would earn so much wealth that he can buy IBM and thus today Tata Group is bigger than Google, Microsoft and IBM combined.
2. Ratan Tata is an Architect?
he planned on becoming an architect. Ratan Tata received a degree in architecture with an emphasis on structural engineering from Cornell University in New York. In 1962 he was a practicing architect for less than two years total. When he somewhat reluctantly decided it would be best to focus on the family business number three he was the first Indian civilian to fly an f 16 Falcon. Ratan Tata is a trained pilot and he has been known to fly the various aircraft owned of the Tata group. But at the arrow India show in 2007, he had a completely new flying experience at the age of 69.
He became the first Indian civilian to pilot an f 16 Falcon a fourteen point six million dollar U.S. combat aircraft that is also used in the air force of 25 different countries. The plane is capable of flying at Mach 2 at fifteen hundred miles per hour and can reach altitudes in excess of 50000 feet. Ratan Tata flew in the aircraft March 1st and reached an altitude of 18000 feet during his 40 minute flight time.
4. Tata Nano – Why it is a disaster?
He conceptualized the Tata Nano car. The Tata Nano car which was introduced as the most affordable production car in the world. It was Ratner’s idea. He wanted to come up with a low-cost car that would attract the many Indians who relied on motorcycles for transportation when it was first available in 2005.
Customers could purchase the Nano for just two thousand two hundred dollars the U.S. but the price has now almost doubled. The original nano is not street legal in the US and cannot be legally sold as an import in the United States until 2034. According to Customs and Border Protection regulations. the car drastically undersold according to the Tata group’s high expectations. Ratan Tata says the car had great potential in the developing world but early opportunities were wasted due to various problems.
5. The Most Successful Tata
When J R.D. Tata stepped down as chairman of the Tata group in 1991 and named Ratan as his successor rotten got to work streamlining operations bringing in new talent acquiring additional brands and changing the group from an India based business to a global entity. In his 21 years of leadership. Revenues grew over 40 times and profit increased over 50 times revenue for the company in 1991 was around five point seven billion dollars and by 2016 the revenue was more like one hundred and three billion dollars.
6. His Favorite Color
This might seem like a small detail but the businessman is so private that it’s rare to get any insight into his personal life. Wratten loves the color red so much that he once went to an art dealer and told him that he would buy every painting that had the color red in it.
7. Too Many Honorary Doctorates
He has been given numerous honorary doctorate from higher learning institutions around the world. He has received honorary doctorate through a number of higher learning institutions including the University of Amsterdam Carnegie Mellon University the University of New South Wales Singapore Management University University of Cambridge the Indian Institute of Technology the Asian Institute of Technology and Ohio State University.
8. Harvard Business School – Tata Hall
There is a building named for him at the Harvard Business School. In 2010 Tata rallied companies and a few charities to join together to donate 50 million dollars to Ratan alma mater Harvard Business School for the construction of an executive center after construction.
The building was named Tata Hall in honor of the Indian businessman. The building is located in the northeast corner of the campus and it is the center of Harvard’s executive education program.YOU MAY LIKE
9. Ratan Tata’s Private Jet
He owns and flies a Dassault Falcon 2000 private jet. As we mentioned earlier rotten is a pilot and a multi-millionaire so it’s no surprise that he owns and flies his own private jet a 22 million dollar Dassault Falcon 2000 luxury business jet.
10. Ratan Tata’s Favourite Car – Ferrari California
Ratan Tata’s favorite car is his 512,000 USD Ferrari California. Tata has an extensive collection of luxury cars but the one he drives most often is his red Ferrari California convertible. He bought one of the first models that were available in India back in 2010. The car was the first Ferrari to feature a folding metal roof and a V8 front engine that offers four hundred and sixty horsepower. Other cars and titles collection include the Cadillac Escalade Maserati quarter report Jaguar XE f r Mercedes Benz 500 SL Mercedes Benz s class and the land rover free Lander.
11. Ratan Tata’s Philanthropist Trust
Tata Trust owns 66 percent equity of Tata Sons the holding company of the Tata Group Tata headed the trust. Almost the entire time he was the chairman of Tata Sons and during this time the trust contributed over eight hundred million dollars towards charitable causes to improve the lives of Indians.
Its primary current focus is bringing clean water to areas of India where it’s needed most. They have already brought water to more than 4 million people and they have plans to expand their water initiatives to 12000 villages by 2020.
12. Ratan Tata is First Knighthood Awardee from India
He is the first Indian since India became a republic to be awarded an honorary knighthood. Tata became an honorary knight when he received the Knight Grand Cross of the Order of the British Empire in 2014. He is the first Indian to receive the honor since India became an independent republic. The GBE one of the UK’s highest civilian honors was given to Ratan Tata. In recognition of his positive impact on UK India relations his investments in the UK and his philanthropic work.
13. Ratan Tata’s Favorite Place
California is one of his favorite places. in a 2014 interview, Ratan said that California holds a special place in his memories from his time living in the States. He enjoyed the highly technical environment in California and was also fascinated by the easy warm and casual lifestyle most Californians embraced. In 2016 he partnered up with the University of California to start a venture capital fund to invest in startup businesses.
14. Ratan Tata’s Love Life
He came close to marriage four times but backed out each time. When asked about his love life Tata said he had come close to marriage four times but had backed out of each relationship each time out of fear. The closest he ever came to being married was in the relationship he had with a mystery woman while he was working in the U.S. when he left to return to India in 1962. She was supposed to follow him and they were to be married. However, the Indo-Chinese conflict prevented her from traveling to India and she ended up marrying someone else.
15. Ratan Tata’s Retirement Home
Ratan Tata bought a 22.35 Million USD retirement home when he retired before returning as interim head of the Tata group. He purchased a new three storey home in his old neighborhood of Calabar in south Mumbai for 22.65 million dollars. Construction was completed in late 2011 and Ratan moved in in 2012. His seafront Helm has seven bedrooms, an infinity pool, a large sun deck, a personal gym, a high tech media room, a 10 car garage and additional quarters if he should choose to have live in help.
Now that you’ve learned more about Ratan Tata we want to know do you think he compares with the other top businessmen in the world. Let us know what you think in the comments. And thanks for sticking around. Here’s a bonus fact just for you. Since his retirement, Tata has reportedly invested in more than 30 companies including Chinese smartphone startup Xiomi and an online pet care portal called Dog Spot along with a leading Indian e-Commerce website called SNAPDEAL and TeeBOX