Ratan Tata, the legendary businessman who transformed one of India's oldest conglomerates into a global powerhouse, has passed away at the age of 86. The Tata Group announced his death in a late-night statement on Wednesday.
"It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation," the company said in its statement.
Ratan Tata, who served as the chairman of Tata Sons from 1991 to 2012 and briefly returned as interim chairman in 2016, was known for his visionary leadership. During his tenure, he spearheaded the global expansion of the Tata Group, with operations spanning over 100 countries. Under his leadership, the group achieved $165 billion in revenue for the year ending March 2024.
Here are 10 key facts about the remarkable life and career of Ratan Tata:
Tata Group Leadership: Ratan Tata led Tata Sons for more than two decades, shaping it into one of India’s most respected business conglomerates.
Global Expansion: Under his stewardship, the Tata Group expanded internationally, acquiring major companies and brands, cementing its place on the global stage.
Notable Acquisitions: Tata led high-profile deals, including the acquisition of British steelmaker Corus in 2007 and luxury carmaker Jaguar Land Rover in 2008.
Educational Background: Tata studied architecture at Cornell University, graduating in 1962, after initially pursuing mechanical engineering at the behest of his father.
Philanthropy: Ratan Tata was a well-known philanthropist, and his passing leaves a significant gap at the Tata Trusts, which control 66% of Tata Sons and have a major role in charitable activities.
Challenging Childhood: Born on December 28, 1937, in Mumbai, Ratan was raised by his grandmother following his parents’ divorce when he was 10.
Innovations: Tata was instrumental in pioneering India’s first superapp and launched a $11 billion semiconductor plant in partnership with Taiwan’s Powerchip.
Navigating Crises: He led the group through major challenges, including the 2008 Mumbai terror attacks, which targeted the iconic Taj Mahal Palace hotel, part of the Tata Group.
Return of Air India: One of Tata’s last major business triumphs was the successful reacquisition of Air India in 2021, bringing the airline back into the Tata fold nearly 90 years after it was nationalised.
Tata Trusts Leadership: Having never married or had children, Ratan Tata's death leaves a leadership vacuum at the helm of Tata Trusts, which control a significant portion of the conglomerate's assets.
Ratan Tata's legacy as a business titan and a philanthropist will be remembered for generations. His death marks the end of an era for the Tata Group and India.