According to Forbes, who is the world’s richest person? It’s Bernard Arnauld, who has a $223 billion fortune. Have you ever questioned whether Forbes’ billionaire list is the right measure?
Your perspective will be completely changed after reading about Ratan Tata. One of our nation’s most adored and respected individuals is Indian business billionaire. He is a terrific humanitarian who is unaffected by fame or success, in addition to having outstanding business insight and being a generous philanthropist. Ratan Tata may not be the richest man in the world, but he is certainly wealthy in spirit. For his contributions to our nation and efforts to improve it, history’s greatest man has repeatedly captured the hearts of the populace. The owner of the Tata Group of India also demonstrated that the most important thing is giving back to society rather than ranking highly on the Forbes list.
There isn’t a single person in India who hasn’t heard of this 82-year-old industrialist or isn’t impressed by him. This is because he has undoubtedly imparted valuable life lessons that can help us become better people.
Why is Ratan Tata not listed among India’s wealthiest individuals?
The Hurun India Rich List 2021 revealed 432 Indians who are wealthier than Ratan Tata, the country’s largest industrialist and philanthropist, according to IIFL Wealth. If things were otherwise rational, one might anticipate that the person in the top 10 or 20 richest Indians would be the one who has run the country’s largest economic empire for nearly 60 years and still has a significant influence over its corporations. That is not the case, though. The extensive philanthropic activity the Tatas carry out through the Tata Trust may be the cause of this.
The Tata Group is one of the largest corporations not just in India but also globally, with projected revenues of US$103 billion as of 2021. Sixty-six percent of the family and business’s wealth is donated to charity. The Tata Trusts own 66% of the ownership of Tata Sons, and dividend payments go directly toward advancing the charitable endeavors of the Trusts.
The Tata group has fine-tuned its purpose to meet India’s most pressing needs over the past 150 years. Ratan Tata’s personal financial statement is unaffected by the company’s profits because of his charitable efforts.
Since the beginning of the incorporation, Ratan Tata and his family have been actively engaged in charitable activity. Through the improvement of the educational system, hospital facilities, and other initiatives, he has significantly contributed to India’s progress.
The Tata Group is a vast conglomerate of businesses with holdings in a variety of industries, including metals and mining, information technology, retail, cars, hotels, chemicals, transportation, and utilities. It has more unlisted businesses than it does listed businesses (at least 29).
Despite of vast complexity of business, Jamsetji Tata made sure that the majority of the money they made from Tata Sons was donated to Tata Trusts, so the Tatas never owned too many shares of their own company. Long before people like Bill Gates entered the picture, the Tatas were the most prominent donors.
Despite the fact that he may not be the wealthiest, Ratan Tata is unquestionably the finest man and a heartthrob. He demonstrated that having a name on the Forbes list does not necessarily the real yardstick to measure success.