Ratan Tata Biography
Ratan Tata is a former chairman of Tata Sons and an Indian industrialist and philanthropist. He served as Tata Group’s chairman from 1990 to 2012, and again as interim chairman from October 2016 to February 2017, and he continues to lead the company’s charitable trusts. He has received two civilian awards from India: the Padma Vibhushan, India’s second highest civilian honor, and the Padma Bhushan, India’s third highest civilian honor.
How old is Ratan Tata? – Age
He is 84 years old as of 28 December 2021. He was born in 1937 in Mumbai, India. His real name is Ratan Naval Tata.
Ratan Tata Family
He is the son of Naval Tata (born in Surat). His biological maternal grandmother was Hirabai Tata, the wife of group founder Jamsetji Tata. Ratan was a Tata by birth because his biological grandfather, Hormusji Tata, was a member of the larger Tata family. Ratan’s parents, Naval and Sonoo, divorced when he was 10 years old, and he was raised by his grandmother, Navajbai Tata, the widow of Sir Ratanji Tata, who formally adopted him through the J. N. Petit Parsi Orphanage. He was raised by his half-brother, Noel Tata (from Naval Tata’s second marriage to Simone Tata). Gujarati is his first language.
Ratan Tata Education
He attended the Campion School in Mumbai until the eighth grade, then the Cathedral and John Connon Schools in Mumbai, and the Bishop Cotton School in Shimla before graduating from Riverdale Country School in New York City in 1955. He earned a degree in architecture from Cornell University in 1959, and in 1975, he enrolled in Harvard Business School’s seven-week Advanced Management Program, which he has since endowed.
Is Ratan Tata married?
In 2011, he stated that he came close to marrying four times, but each time he backed out due to fear or another reason. He recently admitted to loving one girl while working in Los Angeles. Because a family member was ill, he had to return to India, but the girl’s parents refused to allow her to accompany Tata. So Tata stuck to his word and never married.
Ratan Tata – Tata Sons vs. Cyrus Mistry
In one of the most dramatic recent developments, the board of directors of Tata Group voted on 24 October 2016 to remove its chairman Cyrus Mistry with immediate effect, appointing Ratan Tata as interim chairman, and Mistry was removed as a director of Tata Sons in February 2017. The National Company Law Appellate Tribunal (NCLAT) ruled in December 2019 that Cyrus Mistry’s removal as Chairman of Tata Sons was unlawful and that he should be reinstated.
The $111 billion conglomerate filed an appeal with India’s Supreme Court to overturn the NCLAT order directing the Tata group to rehire the man it fired as chairman. Tata is personally leading the charge in the case and has filed a separate petition in the Supreme Court challenging the ruling. The NCLAT order allowing Cyrus Mistry to be reinstated as Tata Sons chairman in January 2020 has been stayed by the Supreme Court. However, the Supreme Court upheld Cyrus Mistry’s dismissal.
Ratan Tata Net Worth
He has an estimated net worth of $1 Billion.
Ratan Tata House
According to estimates, the Ratan Tata residence is worth Rs 150 crores and spans three stories and seven levels. The ‘Cabins’ retirement home, possibly one of India’s most elegant homes, faces the sea at Colaba, and several residents claim that the view of the Arabian Sea from here is the best in the city. This Ratan Tata house was built for Ratan Tata after he stepped down as Tata Sons’ group chairman in December 2012.
Ratan Tata Career
J. R. Tata stepped down as chairman of Tata Sons in 1991, naming him as his successor. Ratan had initial success by turning around National Radio and Electronics (NELCO), only to see it fail during an economic downturn. Under his direction, overlapping operations in group companies were streamlined into a streamlined whole. He designed the Tata Nano car, which helped bring automobiles within reach of the average Indian consumer.
On the occasion of his 75th birthday, Tata resigned his executive powers in the Tata group, and the Board of Directors and Legal division refused to appoint Cyrus Mistry as a successor. Natarajan Chandrasekaran was appointed as the chairman of Tata Sons in February 2017. Tata Motors’ Sanand Plant in Gujarat produced the first batch of Tigor Electric Vehicles. The government has set an ambitious goal of having only electric vehicles by 2030.
He is regarded as India’s leading philanthropist, having made significant contributions to education, medicine, and rural development. In 2010, Tata Group companies and Tata charities donated $50 million to Harvard Business School for the construction of an executive center. Tata Consultancy Services (TCS) has made the largest corporate donation to Carnegie Mellon University for a research facility in cognitive systems and autonomous vehicles. The Tata Group, led by Ratan Tata, established the MIT Tata Center of Technology and Design at Massachusetts Institute of Technology with the goal of addressing the challenges of resource-constrained communities. TCS donated $35 million for this magnificent 48,000-square-foot structure known as TCS Hall.