Ratan Tata, an Industrialist and one of the greatest personalities in Indian history passed away on 9th October 2024 at 86. He was well-known for his humility and significant work toward society. Despite being a businessman, he prioritised the nation’s growth and development by donating more than 65% of Tata Group’s profit. His philanthropic approach brought many changes to India’s modern business.
Here are the top 10 facts about Ratan Tata you should know:
1. Early Life Struggle
Ratan Tata was born on 28th December 1937 in Bombay. He was raised by his grandmother, Navajbai Tata, after the separation of his parents, Naval and Sooni Tata, in 1948, when he was just 10 years old.
2. Lifelong Bachelor
He was never married, although he came close to it 4 times. “I came close to getting married four times, and each time I backed off in fear or for one reason or another,” he stated. He was a lifelong bachelor and later shared a friendly bond with his young manager Shantanu Naidu.
3. Philanthropy of Ratan Tata
Jamshedji Tata, the founder of the Tata group, earned the title of the world’s largest charitable donor. Later, Ratan Tata followed in his footsteps and donated $50 million to Harvard and ₹950 million to IIT-B, additionally becoming the highest donor to Cornell University.
4. Civilian Honours
He was honoured with the Padma Bhushan and Padma Vibhushan in 2000 and 2008, respectively, by the Indian government. Padma Bhushan is the 3rd highest civilian honour, whereas Padma Vibhushan is the 2nd highest civilian honour in India.
5. Revenue Growth of Tata Group
Tata served the position of chairman of Tata Groups and Tata Sons for over 2 decades. He brought substantial growth and left a lasting impact on the Indian economy. Tata Group’s revenues soared higher from 18000 crores to 5.5 Lakh crores during his tenure.
6. Funded Startups
Tata has invested in over 50 startups in India and abroad, shaping the modern world with new offerings. His few funded startups include Ola, Lenskart, Upstox, Paytm, and CarDekho. Most of the investment was done through his channel.
7. Strategic Acquisitions
Under his chairmanship, Tata Tea acquired Tetley in 2000, beginning the acquisition phase of the Tata Group. Later, Tata Companies acquired multiple overseas ventures, including but not limited to Corus by Tata Steel, Jaguar and Land Rover by Tata Motors, and Brunner Mond by Tata Chemicals.
8. Ratan Tata on Nano’s Failure
Ratan Tata acknowledged the failure of Tata Nano and called it unfortunate. He believed the car should be marketed as an affordable all-weather vehicle for two-wheeler owners. He envisioned making mobility more accessible and safer for middle-class families.
9. Love Affair
During his youth, Tata fell in love with a woman in LA while working in an architectural firm. He tried to convince the woman to shift to India along with him. However, because of the Indo-China War of 1962, the woman’s parent didn’t allow her to move to India.
10. Air India Acquisition
One of Tata’s substantial accomplishments was the acquisition of Air India in 2021, nationalised by the Indian government 68 years ago in 1953. He considered it an “emotional call” while returning the legacy home.
The demise of Ratan Tata left a massive scar in the womb of our nation, and he made us believe that it is possible to bring about change all alone. His legacy will continue in our hearts as we follow his footsteps and work toward the betterment of the nation.
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