Ratan Tata, India's leading business figure and also Chairman Emeritus of Tata Group died today at the age of 86. The late served as chairman of the Tata Group from 1991 to 2012 which saw the company's business grow rapidly until it now has a market value of $403 billion
Born in 1937, Ratan Tata led the Tata Group for over two decades as it grew into more than 100 companies with around 1 million employees. Among the companies under the Tata Group are Tata Motor, Tetley, Corus, Air India and Jaguar Land Rover. Under the leadership of the late, the Tata Nano car was developed with the aim of offering an affordable car for all the people of India.
Ratan Tata is remembered not only for his business success but also for his contribution to society. Although the Tata Group is worth almost half a trillion dollars, Ratan Tata has never been listed as a billionaire and only holds the status of the 421st richest individual in India.
This is because 66% of Tata Group's shareholding is held by Tata Trusts which ensures that the company's profits are donated to the needy such as through the construction of hospitals, educational institutions and scholarships. Ratan Tata died without leaving an heir because he never married.