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Renowned Indian businessman and former Tata Sons chairman, Ratan Naval Tata, died on Wednesday at the age of 86. Recognized for his innovative guidance and charitable acts, Tata made a lasting impact on both the Indian business world and community. Here are some intriguing facts regarding his life and the impact he left behind.
Early Life and Education
Ratan Tata, born in 1937, was the great-grandson of Tata Group founder Jamsetji Tata. Following his parents' divorce in 1948, he was brought up by his grandmother, Navajbai Tata. Before graduating in 1955, he attended renowned schools in Mumbai and Shimla, and finished his studies at Riverdale Country School in New York.Tata obtained degrees in architecture and structural engineering from Cornell University in 1959, and later finished a management program at Harvard Business School in 1975.
Career
Tata started his career at Tata Steel in 1961, starting out on the shop floor where he oversaw the blast furnace and also did the manual work of shoveling limestone. Even though he was offered a position at IBM, he decided to remain in the family business, beginning at the bottom and familiarizing himself with the tasks.
Successes attained at Tata Group
Ratan Tata became chairman of Tata Group in 1991 and led the company to global recognition. With him in charge, the group's profits increased over 40-fold, hitting $103 billion in 2016. He had a crucial part in significant purchases, like Tata Motors buying Jaguar Land Rover and Tata Steel acquiring Corus, which both broadened Tata Group's international presence.
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Charitable giving and educational funding through scholarships
Tata was a staunch supporter of education and spearheaded various charitable endeavors. With his direction, the Tata Group established a $28 million scholarship fund for Indian students attending Cornell University. In 2010, Tata gave $50 million of his own money to Harvard Business School, resulting in the building of Tata Hall on the school grounds.
Interests of an individual and their obligation to society
In 2007, Ratan Tata, being a licensed pilot, achieved the milestone of becoming the first Indian to pilot an F-16 Falcon. He had a deep love for animals, particularly dogs, and a strong interest in cars. At the headquarters of the Tata Group, he became well-known for initiating a practice of offering refuge to stray dogs in the monsoon season. Tata had two pet dogs, Tito and Maximus, of which he was very proud.
Efforts undertaken for charitable purposes
More than 65% of the profits of Tata Group are dedicated to charitable purposes, such as healthcare, education, and employee welfare. After the Mumbai terror attacks on 26/11, Tata made sure that the employees of the Taj Hotels continued to receive their salaries even when the hotel was shut down for renovations, showcasing his strong commitment to the well-being of his staff.
Tata's dedication to social responsibility was further emphasized in January 2021 when a picture of him visiting a past employee in Pune gained widespread attention, illustrating his modesty and benevolence. This act enhanced his reputation as an empathetic leader who prioritized individuals above everything else.
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