Last Updated: 28 Dec, 2024 | Views: 1382
Age: 86
Profession: Business Men
Other Profession(s): Business Men, Philanthropist, Investor, Industrialist
Famous For: Former chairperson of the Tata Group
Higher Education: Bachelor of Architecture
About (Profile/Biography):
Naval Ratan Tata, popularly known as Ratan Tata, was born in Mumbai to one of the wealthiest industrialist families in India. After India gained its freedom, the Tata Group, which was founded by his grandfather Jamsedji Tata, became a leader in industrialization. In the early years of his life, when his parents divorced, his grandmother raised him. As soon as Ratan graduated from college, he became involved in his family's business. He began working at Tata Steel in 1962, where he first became aware of his family's business.
Careers:
In 1962: Ratan Tata started out working for his own company as a miner.
In 1970: Ratan was advanced to management and initially succeeded by redeveloping Group company National Radio and Electronics (NELCO).
In 1971: He was made the National Radio & Electronics Company Limited's Director-in-Charge (Nelco)
In 1991, Ratan succeeded J.R.D. Tata as chairman of Tata Sons after his resignation.
From 2005 to 2012: His ambitious moves to purchase major MNCs like Tetley, Jaguar & Land Rover, Corus Steel, and others had a significant impact on Indian industrial sector
In 2014, the Tata Group gave the Indian Institute of Technology, Bombay, Rs. 950 million. The institute had never received a grant of that size before.
Achievements and Awards:
2000: Ratan received the Padma Bhushan award from the Indian government.
2008: Ratan Tata received the Padma Vibhushan, the third-highest civilian honour in India.
2008: Knight Commander of the Order of the British Empire (KBE)
2009: Life Time Achievement Award by Rockefeller Foundation
2014: Honorary Knight Grand Cross of the Order of the British Empire (GBE)
Philanthropy
• Donated $50 million to Harvard Business School.
• Established the Tata Education and Development Trust.
• During COVID-19, committed Rs. 500 crore for pandemic relief.
• Over 65% of Tata Sons' profits go to charitable trusts funding various causes.
Business Philosophy
• Known for his ethical business practices and focus on social responsibility.
• Emphasizes sustainable development and community welfare.
• Pioneered the concept of corporate social responsibility in Indian business.
• Advocates for transparency and integrity in business operations.
Unknown Facts:
• Ratan is a well-known philanthropist as well; about 65% of his wealth is in charitable trusts.
• He has acknowledged that he was on the verge of getting married four times but ultimately decided against it for a variety of reasons.
• He is a trained pilot and has a great passion for aviation.
• Lives in a relatively modest apartment in Mumbai despite his wealth.
• Personally drives himself around Mumbai in a Tata car.
• Is a devoted dog lover and has established several animal welfare initiatives.
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