From basic commodities like salt to opulent luxury like the Land Rover, Ratan Tata owns a series of amenities like none other billionaires in the world. Ratan Tata is a familiar face within the label of billionaires worldwide. But the real question stands whether he is actually a billionaire?
In October 2021, the IIFL Wealth Hurun India Rich List 2021 ranked Ratan Tata way lower on its rich of wealthy personas. The list revealed that there are about 432 Indians richer than him.
Moreover, his multinational company makes a staggering turnover—which is even beyond the figures made by Bill Gates or Mark Zuckerberg or Jeff Bezos. Tata Group, established in 1868, has currently attained global stature and has gained international recognition after tie-ups with various global brands.
With Ratan Tata being labeled as a recognized billionaire by the entire cast of India, what makes him rank below on the rich list?
The answer is extensive charity and philanthropy. Ratan Tata is a widely popular industrialist and philanthropist. There has seldom been a time when his net worth has crossed or attained the $1 billion mark, unlike other reputed Indian billionaires like Mukesh Ambani and Gautam Adani! Reports claim that 65% of the Tata family’s and the company’s fortune is donated away in the form of charity. Therefore, any and every profit made by the company has zero to no impact on Tata’s personal financial statements. The revenue generated goes straight away for charitable causes and organizations. Hence, the answer to our question is no. Ratan Tata is NOT a billionaire by wealth. He is definitely one by heart.
Are you keen to know some of his popular philanthropic advents? Despite being a prudent owner of some of the renowned commodities and assets, his philanthropic activities have kept him away from topping the billionaire list.
People showcase their gratitude to Ratan Tata and his contributions to the development of the country. From healthcare facilities to contributing to the improvement of the education system, the list is endless.
In 2010, Tata Group donated ₹ 2.20 billion (US$50 million) to the Harvard Business School to build an academic and a residential building for executive education programs on the institute’s campus in Boston, Massachusetts.
What Makes Ratan Tata an Ideal philanthropist?
Ratan Tata sets an example of ideal philanthropy. He is also known for implementing pensive initiatives in his owned organizations.
For instance, post the 26/11 attacks, Ratan Tata looked after the hotel’s employees during the time when it was dysfunctional. He ensured that the staff receive their paychecks throughout this time. He also compensated the employees at the railways, police stations, market vendors, and pedestrians.
Ratan Tata is an example that being atop the rich lists does not make a man great.
Read more: Top 10 Companies Owned By Tata