Ratan Tata passed away on Wednesday night after being hospitalised for two days. As the world is mourning the industrialist's death, many on social media are wondering why he was never named in any billionaire lists.
The emeritus chairman of Tata Sons controlled a business empire worth Rs 33.7 crore spread across over countries. However, like his predecessors, Tata was a philanthropist. The constitution of Tata Group stipulates that two-third of the Tatas earnings in Tata Sons should be donated to Tata Trusts.
What was Ratan Tata's net worth?
Ratan Tata, as his name suggests, was a "gem" of a gentleman. His net worth was estimated to be around Rs 3,800 crore, as per the IIFL Wealth Hurun Rich List 2022. This made him the 421st among India's wealthiest, far below the top billionaires of the country.
However, Fortune India-Waterfield research estimates his wealth at Rs 16,448 crore, taking into account his stakes in Tata Group companies Tata Sons, Titan, Tata Steel and Tata Consultancy Services.
As he guided Tata Group for more than two decades, the salt-to-steel conglomerate soared 46 times to record a revenue of Rs 4.75 lakh crore in FY 2012 and the profits zoomed 51 times to more than Rs 33,500 crore.
His life was also marked by living below his means and avoiding unnecessary controversies or extravagance. Tata also emphasised on ethical practice in business as he said once, "I admire people who are very successful. But if that success has been achieved through too much ruthlessness, then I may admire that person less." Highlighting his philanthropic side, the industrial icon once said, "Never underestimate the power of kindness, empathy, and compassion in your interactions with others."
During his tenure, Tata Trusts set up 10 cancer care centres in Karnataka, Andhra Pradesh, Jharkhand and Assam, making the facilities accessible for the unprivileged. He has also mentored young entrepreneurs and personally invested in startups like Lenskart, CarDekho, CashKaro, BlueStone, Tracxn and Urban Company. He has exited from formerly invested startups like FirstCry, Xiaomi, Ola Electric and NestAway.