Ratan Tata passes away: Industrialist Ratan Tata, who was always known as the humble business tycoon, was one of the most influential business leaders globally. He led a conglomerate of 30 companies operating across over 100 countries on six continents. Despite his vast influence and global reach, his name never appeared in the world's top billionaire rankings.
How is it possible that someone who has been at the helm of the country's largest business conglomerate for six decades is not in the list of the top 10 or top 20 richest individuals in the country? Yet, this is a fact. The reason for this can also be the large-scale philanthropic work done by the Tata family through the Tata Trust.
Jamsetji Tata had made this rule
In fact, the Tata family members traditionally hold minimal personal stakes in their own companies. Jamsetji Tata, the founder of the Tata Group, established a guiding principle that much of the profits earned by Tata Sons should be donated to the Tata Trust for philanthropic purposes. The Tata family has been a pioneer in philanthropic work much before people like Bill Gates.
Worked with labourers
Ratan Tata is credited with making the Tata Group a globally well-known business group with a software and sports portfolio. Ratan Tata died on Wednesday at the age of 86.
Ratan Tata was known for his shy and reserved nature during his school years, and he initially aspired to become an architect. He was working in the US when his grandmother called him back to India to join the family business. Before assuming leadership of the Tata Group, Ratan Tata worked on the shop floor near a blast furnace as an apprentice, living in a hostel during that time.
In an interview, he reflected on this period, saying, "It was terrible at that time. But if I look back, it was a very meaningful experience because I worked closely with the workers for years."
Ratan Tata took over family business in 1991
Ratan Tata took over his family business in the year 1991. The Government of India introduced radical free-market reforms that year. Tata benefited greatly from this. His 21 years of leadership took the Tata Group, which is involved in businesses ranging from salt to steel, to new heights. The Tata Group's global presence expanded, including British luxury brands like Jaguar and Land Rover.
