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Harshita Tyagi
Updated Nov 07, 2021 | 07:48 IST
Why Ratan Tata ranks way down on rich list despite heading one of India's largest conglomerates for decades
Why Ratan Tata ranks way down on rich list despite heading one of India's largest conglomerates for decades&nbsp | &nbspPhoto Credit:&nbspPTI
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The IIFL Wealth Hurun India Rich List 2021 showed there are 432 Indians richer than Ratan Tata. One must expect that a person who led one of the largest business empires in India for nearly six decades and still holds huge influence on its companies would be among the top 10 or 20 richest Indians. However, Tata is not even among the top 100 and the reason for this could be the massive philanthropy work that the Tatas do through Tata Trusts.,volleyball spike numbers

Note that Ratan Tata’s wealth, largely sourced from Tata Sons, stood at Rs 3,500 crore, putting him at 433rd position on the IIFL Wealth Hurun India Rich List 2021. In last year's list, Tata’s ranking was 198th with wealth at Rs 6,000 crore. The research house did not specify why Tata's wealth has come down drastically despite the equities rallying rapidly.,m777 casino malaysia

Dr Shashank Shah, JN Tata Scholar'15, Harvard Business School, mentioned in his book ‘The Tata Group: From Torchbearers to Trailblazers' how in both Indian and multinational conglomerates/businesses, the one who steers the company forward is the one with the maximum personal wealth in the organization-Jeff Bezos, Bill Gates, Warren Buffett and Mukesh Ambani to name a few. ,basketball bets today

deuces wild poker free online no download,Particularly in the case of large businesses, the founders and leaders are among the wealthiest in the world. A major reason being the equity stake they have in the companies they own and run, his research showed. However, in the case of the Tata Group, neither the Tata family nor chairman emeritus Ratan Tata appears in the list of India’s wealthiest families in India, Shah said.

Shah's research also revealed that this wasn’t just the case with Ratan Tata. It was true in the case of former chairman J.R.D. Tata as well. In a Linked post of 2019, Shah wrote, "In November 1985, an article in the Bombay magazine reported that J.R.D. Tata’s personal wealth was nearly Rs 28 crores. J.R.D. remonstrated the publication and placed on record that his wife’s and his personal investments, including an apartment were valued at Rs 60 lakhs. All other shares in his name were only as a trustee of public charitable trusts in which he had no personal interest.",online football parlay bets

He further wrote, "This speaks volumes of the simplicity and transparency of J.R.D., the only businessman to have been conferred the Bharat Ratna, India’s highest civilian award. It also intrigues us as to why the Tatas are not the richest businessmen in India, though the Tata Group is India’s numero uno conglomerate.",crictime live cricket streaming hotstar

basketball movie jesus,With most of Tata Sons owned by charitable trusts, Ratan and the other Tatas are wealthy but far from being multibillionaires, Peter Casey wrote in his book ‘The Story of Tata: 1868 to 2021’. Ratan was raised in what amounted to a palace by the grand lady of one of the wealthiest families in India.‘And yet,’ Whitworth writes ‘if you look at his lifestyle now, he lives like any professional manager—actually, all the top corporate honchos I know, have lifestyles vastly in excess of Ratan’s, says an excerpt from the book.

football free betting tips,As per the book excerpt, Tata has lived for the last few years in a comfortable flat with a small garden for Tito and Tango [his dogs], on the coast a few miles from the Taj Mahal Palace hotel. The apartment is owned by the Tata Group and upon his death will be returned to the group. "It is the home of a bachelor who loves reading and dogs, certainly not the home of the head of India’s largest conglomerate," the book said.

basketball training toledo ohio,In an interview with Casey, Tata admitted that he grew up amidst a lot of wealth, but one must on forget that he spent ten years in America trying to live on the Reserve Bank’s allowances . . . and . . . and the money was never enough. So, he had to take all kinds of jobs, including washing dishes, to make ends meet. "That sort of thing helps you forget that your family is rich quite quickly," Tata had said.

For the unversed, Ratan Tata shares the 433rd position on the list with Harshil Mathur and Shashank Kumar of Razorpay, Edward Menezes and Sunil Chari of Rossari Biotech, Shriram brothers of DCM Shriram and N Radhakrishna Reddy & family of Rain Industries. Tata's wealth is less than famous Dalal Street investors Rakesh Jhunjhunwala, the Big Bull (Rs 22,300) and Raamdeo Agrawal (Rs 4,400 crore).,soccer academy youtube

comparison of soccer and football,It is worth mentioning that under the lineage of Jamsetji Tata, a number of trusts have been established over the years – the largest being the Sir Ratan Tata Trust and Sir Dorabji Tata Trust, which operate under the umbrella of the Tata Trusts. The Trusts own two-third of the stock holding of Tata Sons, the apex company of the Tata group of companies meaning 66% of Tata Sons' equity is held by the Tata Trusts and dividends flow directly to support the philanthropic work of the Trusts. 

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