Ratan Tata passes away at 86: Top business tycoon to philanthropist icon—a peek into his towering life and legacy

Ratan Tata passes away: Ratan Tata, chairman emeritus of India's biggest conglomerate, Tata Group, breathed his last on Wednesday, October 9, after being in critical condition at the intensive care unit (ICU) at a Mumbai hospital. Tata was 86 years old. Earlier this week, the business tycoon said he was undergoing routine medical investigations due to age and related medical conditions.

Tata was admitted to Mumbai's Breach Candy Hospital. N Chandrasekaran, the chairperson of the Tata Group, said in an official statement, “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.”

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"For the Tata Group, Mr. Tata was more than a chairperson. To me, he was a mentor, guide and friend. He was inspired by example. With an unwavering commitment to excellence, integrity, and innovation, the Tata Group, under his stewardship, expanded its global footprint while always remaining true to its moral compass," said Chandrasekaran.

Dedication to philanthropy

He added that Tata’s dedication to philanthropy and society's development has touched millions' lives. From education to healthcare, his initiatives have left a deep-rooted mark that will benefit future generations. Tata’s genuine humility in every individual interaction reinforced all of this work.

"I extend our deepest condolences to his loved ones on behalf of the entire Tata family. His legacy will continue to inspire us as we strive to uphold the principles he so passionately championed," added Chandrasekaran.

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Ratan Tata bows out with an unmatched legacy

Tata became chairman of the autos-to-steel conglomerate in 1991 and ran the group founded by his great-grandfather more than a hundred years ago until 2012. He founded the telecommunications company Tata Teleservices in 1996 and took the IT company Tata Consultancy Services (TCS) public in 2004. 

After stepping down, he was conferred the title of chairman emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel, and Tata Chemicals. As chairman for over two decades, beginning in 1991, Tata rapidly expanded the 156-year-old business house. It now has operations in more than 100 countries and clocked $165 billion in revenue for the year ended March 2024. 

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During the 21 years Ratan Tata led the Tata Group, revenues grew over 40 times, and profits over 50 times. In 2008, he received the Padma Vibhushan, the second-highest civilian honour in India, after receiving the Padma Bhushan, the third-highest civilian honour in 2000. 

Tata is also one of the largest philanthropists in the world, having donated around 60–65 per cent of his income to charity. He was also a prolific investor and has invested in several startups, including Ola Electric Mobility, Snapdeal, Teabox, and CashKaro.com.

He had Tata Tea acquire Tetley, Tata Motors acquire Jaguar Land Rover, and Tata Steel acquire Corus. These acquisitions repositioned Tata from an India-centric group into a global business, with over 65 per cent of revenues coming from operations and sales internationally. He also conceptualised and spearheaded the Tata Nano car, which helped put cars at a price point within reach of the average Indian consumer.

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After his retirement, Tata faced a boardroom battle with his successor, Cyrus Mistry, who was sacked as Chairman of Tata Sons on October 24, 2016. He returned as interim chairman of the conglomerate after Mistry was removed. He handed over the baton of the group to N Chandrasekaran in January 2017 and moved to his role of chairman emeritus of Tata Sons. 

In 2021, Tata Sons regained control of Air India Ltd., the nation’s flagship carrier, almost 90 years after the state took it over. The deal meant Tata could welcome home to the group an airline originally founded by his mentor, JRD Tata.

He is the son of Naval Tata, who was adopted by Ratanji Tata, son of Jamsetji Tata, the founder of the Tata Group. Ratan Tata graduated from the Cornell University College of Architecture with a bachelor's degree. 

He joined the Tata Group in 1961, working on the shop floor of Tata Steel. In 1991, he succeeded JRD Tata as the chairman of Tata Sons upon the latter's retirement. Ratan Tata has never married and has no children.