Ratan Tata, the entrepreneur who inherited one of India’s oldest conglomerates and turned it into a global empire through a series of eye-catching deals, has passed away. He was 86.
Top 10 Facts To Know About Ratan Tata
1. Leadership at the Tata Group: From 1991 to 2012, he led Tata Sons for over two decades. In 2016, he briefly returned as interim chairman.
2. Expansion globally: The Tata Group significantly expanded under Tata’s leadership, operating in more than 100 countries and generating $165 billion in revenue for the year ending March 2024.
3. Iconic purchases: He oversaw significant acquisitions, including the British steelmaker Corus in 2007 and the luxury automobile manufacturer Jaguar Land Rover in 2008.
4. Academic Background: Tata initially pursued mechanical engineering following his father’s wishes and graduated from Cornell University in 1962 with a degree in architecture.
5. Philanthropy: Ratan Tata was well-known for his charitable efforts, and his death leaves the Tata Trusts, which control approximately 66% of Tata Sons, with a significant leadership void.
6. Problem in Childhood: Ratan Naval Tata was born in Mumbai on aHis parents, Naval and Sooni Tata, divorced when he was 10, and he was raised by his grandmother.
7. Innovative Concepts: The group launched India’s first superapp, Tata Neu, under Ratan Tata. The business grew into a global conglomerate that produced everything from software to sports cars.
8. Important Problems: During the 2008 Mumbai terrorist attacks, which targeted the Tata Group’s flagship Taj Mahal Palace hotel, the Tata Group experienced a significant crisis.
9. Final Battle in Business: The successful reacquisition of Air India in 2021, restoring it to the Tata Group nearly 90 years after it was nationalized, was one of his final significant accomplishments.
10. Tata’s future: Tata had no children and never got married. His passing leaves the powerful Tata Trusts, a group of charities, without a leader.
The announcement was made by the Tata Group in a late-night statement on Wednesday.
“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” the company said.
