Ratan Tata is chairman of the Tata Group, as well as other major Tata companies, and his net worth is $1 billion. Ratan Tata amassed his net worth during his career at Tata Sons. He started by digging limestone and taking care of a blast furnace in Jamshedpur, on the ground floor. In 1971, he became a director of the company NELCO, whose business was not going so well at that time. He managed to increase his market share by 23%, but the company soon began to decline due to labor and economic problems. He helped roll out Empress Mills, but because he was not allowed the 50 lakh Rupees he needed, the company peaked and was closed in 1986. Ratan has since served as the Chairman of Tata Industries, after the resignation of JRD Tata in 1981, and became chairman of Tata Group. He was responsible for the acquisition of many companies such as Tetley, Land Rover, Corus and Jacquar. Other major Tata companies include Tata Steel, Tata Motors, Tata Teleservices, Indian Hotels Company, Tata Power, Tata tea and Tata Chemicals. Ratan Tata is known for making Tata a global success.
Ratan Tata was born in Bombay, Bombay Presidency, British India in 1937. His parents, Nawal Tata (father) and Suno (mother), were a well-known family in the Parsi community. His mother and father separated and Ratan Tata was brought up by his grandmother (Lady Navajbai) in Mumbai. He attended The Campion School, and then received a bachelor’s degree in construction engineering and architecture from Cornell University in 1962. He also graduated from Harvard Business School, after completing a management development program, in 1975.
Ratan Tata is a member of the program board of the Indian Initiative of the Bill and Melinda Gates Foundation for the fight against AIDS, a member of the Prime Minister’s council for trade and industry, as well as the board of directors of the East/West Center and the advisory board of the RAND Center for Policy in Asia and the Pacific. He also serves on the boards of Booz Allen Hamilton, American International Group, Mitsubishi Corporation and J. P. Morgan. Ratan Tata is well known and revered internationally. He is also a member of the BMB Group as a member of the advisory board, a member of the board of directors of the University of Southern California and Cornell University, a member of the board of directors of the international investment council of the Republic of South Africa and a member of the Asia-Pacific Advisory Committee of the New York Stock Exchange. He has received several awards, such as honorary Doctor of Laws (2010), Honorary Citizen of Singapore (2007), Honorary economic Advisor (2004), Legend of leadership Award (2010) and many others. He is also known for his efforts to develop the Indica and the Nano four-passenger city car. To date, it is considered one of the cheapest cars in the world. Due to the low price, this small car made it accessible to everyone. It has become a very popular and fashionable vehicle in India.