The Economic Times: "Arthos helps its customers set realistic retirement goals" --> FREE Limited time offer: Sign Up Now
HR Zone » General Awareness » Why is Ratan Tata never in the Forbes List ??

1965 Views
  10 Replies

+11
Vote Vote
Why is Ratan Tata never in the Forbes List ??
Priya
Priya Picture
1129 Posts
back to top
Posted 23-07-2009Reply

So many people around the world want to know that "What is the Net worth of Ratan Tata"?

TATA Group is running 96 businesses and out of which 28 Companies are publically listed on the various stock exchanges. Tata Group is world's top 50 Group according to Market capitalization and Reputation.

Have you ever thought why Ratan Tata’s name is not in the list of Billionaire’s club? Why Ratan Tata is not a billionaire on the Forbes magazine list of billionaire people of the world?

The reason is that, TATA Group's 96 companies are held by its main Company "TATA Sons" and the main owner of this TATA Sons is not Ratan Tata but various charitable organizations developed and run by TATA Group.

Out of which JRD TATA Trust & Sir Ratan Tata Trust are the main. 65% ownership of TATA Sons which is the key holding company of the other 96 TATA Group Company is held by various charitable organizations.

So this 65% ownership of Tata sons Limited is not reflected on Ratan Tata's personal Financial Statement but on the various charitable organizations. And this is the reason why Ratan Tata is not in the list of Billionaire club.

If we put this 65% ownership of Tata Sons in Ratan TATA's own personal financial statement then Ratan Tata's Net worth can become more than $ 70 billion. And that's much more than the Warren Buffet's Current Net Worth of $ 62 billion, the world's richest person according to Forbes magazine 2008.

However, it doesn't mean that Ratan Tata is poor. In one interviews he had told the reporter that, "I have my own Capital". He is the chairman of Tata Group so obviously he earns lots of money every year as a bonus, remuneration and salary. However, Ratan Tata's Net worth is not $ 1 Billion.

He is not a billionaire on paper. But in reality he is the richest person of the world. His net worth in reality is more than Bill Gates and Warren Buffet. So the good thing about Tata Group is that, They do Charity out of their Money...

And that is the reason TATA Group has generated so much of Goodwill over last 5 generations.



Source: Email from a friend :)
Pradeep
Pradeep Picture
1412 Posts
back to top
  Rated 0 | Posted 23-07-2009

Very informative Priya.
Thank you for sharing!

Sudhakarvas
Sudhakarvas Picture
350 Posts
back to top
  Rated 0 | Posted 23-07-2009

Nice post priya......................!

Pushpak
Pushpak Picture
108 Posts
back to top
  Rated 0 | Posted 23-07-2009

Tatas have always been know for the way they treat their employees like a family and share everything ... i guess this information contributes to it ... thanks for sharing Priya

Rahul
Rahul Picture
23 Posts
back to top
  Rated 0 | Posted 23-07-2009

Good Info...

Cherin
Cherin Picture
268 Posts
back to top
  Rated 0 | Posted 24-07-2009

Very informative pirya. Thanks for posting it.

Cheers
Cherin

Sonal
Sonal Picture
373 Posts
back to top
  Rated 0 | Posted 24-07-2009

very nice post Priya...
Thanks for sharing

Regards,
Sonal.

Raj
Raj Picture
198 Posts
back to top
  Rated 0 | Posted 24-07-2009

Hi Priya,
thanks for sharing,
"" Inspiring One""

Prabha
Prabha Picture
31 Posts
back to top
  Rated +3 | Posted 25-07-2009

Priya,

Thanks for sharing such a wonderful information. I also would like to share this article that my uncle sent me..... I've also attached a picture of this great personality! (I guess someone, sometime earlier would have shared it on the forum) This mail came as an inspiration to me. And I'm sure U all will share the same feeling after reading through this. A must read!

(Article sourced from: Lasting Legacies (Tata Review- Special Commemorative Issue 2004), brought out by the house of Tatas to commemorate the 100th birth anniversary of JRD Tata on July 29, 2004.)

Have Passion!

It was probably the April of 1974. Bangalore was getting warm and gulmohars were blooming at the IISc campus. I was the only girl in my postgraduate department and was staying at the ladies' hostel. Other girls were pursuing research in different departments of Science.

I was looking forward to going abroad to complete a doctorate in computer science. I had been offered scholarships from Universities in the US ... I had not thought of taking up a job in India .

One day, while on the way to my hostel from our lecture-hall complex, I saw an advertisement on the notice board. It was a standard job-requirement notice from the famous automobile company Telco (now Tata Motors)... It stated that the company required young, bright engineers, hardworking and with an excellent academic background, etc.

At the bottom was a small line: 'Lady Candidates need not apply.'

I read it and was very upset. For the first time in my life I was up against gender discrimination.

Though I was not keen on taking up the job, I saw it as a challenge. I had done extremely well in academics, better than most of my male peers...

Little did I know then that in real life academic excellence is not enough to be successful?

After reading the notice I went fuming to my room. I decided to inform the topmost person in Telco's management about the injustice the company was perpetrating. I got a postcard and started to write, but there was a problem: I did not know who headed Telco

I thought it must be one of the Tatas. I knew JRD Tata was the head of the Tata Group; I had seen his pictures in newspapers (actually, Sumant Moolgaokar was the company's chairman then) I took the card, addressed it to JRD and started writing. To this day I remember clearly what I wrote.

'The great Tatas have always been pioneers. They are the people who started the basic infrastructure industries in India , such as iron and steel, chemicals, textiles and locomotives they have cared for higher education in India since 1900 and they were responsible for the establishment of the Indian Institute of Science. Fortunately, I study there. But I am surprised how a company such as Telco is discriminating on the basis of gender.'

I posted the letter and forgot about it. Less than 10 days later, I received a telegram stating that I had to appear for an interview at Telco's Pune facility at the company's expense. I was taken aback by the telegram. My hostel mate told me I should use the opportunity to go to Pune free of cost and buy them the famous Pune saris for cheap! I collected Rs30 each from everyone who wanted a sari when I look back, I feel like laughing at the reasons for my going, but back then they seemed good enough to make the trip.

It was my first visit to Pune and I immediately fell in love with the city.

To this day it remains dear to me. I feel as much at home in Pune as I do in Hubli, my hometown. The place changed my life in so many ways. As directed, I went to Telco's Pimpri office for the interview.

There were six people on the panel and I realized then that this was serious business.

'This is the girl who wrote to JRD,' I heard somebody whisper as soon as I entered the room. By then I knew for sure that I would not get the job. The realization abolished all fear from my mind, so I was rather cool while the interview was being conducted.

Even before the interview started, I reckoned the panel was biased, so I told them, rather impolitely, 'I hope this is only a technical interview.'

They were taken aback by my rudeness, and even today I am ashamed about my attitude.

The panel asked me technical questions and I answered all of them.

Then an elderly gentleman with an affectionate voice told me, 'Do you know why we said lady candidates need not apply? The reason is that we have never employed any ladies on the shop floor. This is not a co-ed college; this is a factory. When it comes to academics, you are a first ranker throughout. We appreciate that, but people like you should work in research laboratories.

I was a young girl from small-town Hubli. My world had been a limited place.

I did not know the ways of large corporate houses and their difficulties, so I answered, 'But you must start somewhere, otherwise no woman will ever be able to work in your factories.'

Finally, after a long interview, I was told I had been successful. So this was what the future had in store for me. Never had I thought I would take up a job in Pune. I met a shy young man from Karnataka there, we became good friends and we got married.

It was only after joining Telco that I realized who JRD was: the uncrowned king of Indian industry. Now I was scared, but I did not get to meet him till I was transferred to Bombay. One day I had to show some reports to Mr Moolgaokar, our chairman, who we all knew as SM.. I was in his office on the first floor of Bombay House (the Tata headquarters) when, suddenly JRD walked in. That was the first time I saw 'appro JRD'. Appro means 'our' in Gujarati. This was the affectionate term by which people at Bombay House called him.

I was feeling very nervous, remembering my postcard episode. SM introduced me nicely, 'Jeh (that's what his close associates called him), this young woman is an engineer and that too a postgraduate.

She is the first woman to work on the Telco shop floor.' JRD looked at me. I was praying he would not ask me any questions about my interview (or the postcard that preceded it).

Thankfully, he didn't. Instead, he remarked. 'It is nice that girls are getting into engineering in our country. By the way, what is your name?'

'When I joined Telco I was Sudha Kulkarni, Sir,' I replied. 'Now I am Sudha Murthy.' He smiled and kindly smile and started a discussion with SM. As for me, I almost ran out of the room.

After that I used to see JRD on and off. He was the Tata Group chairman and I was merely an engineer. There was nothing that we had in common. I was in awe of him.

One day I was waiting for Murthy, my husband, to pick me up after office hours. To my surprise I saw JRD standing next to me. I did not know how to react. Yet again I started worrying about that postcard. Looking back, I realize JRD had forgotten about it. It must have been a small incident for him, but not so for me.

'Young lady, why are you here?' he asked. 'Office time is over.' I said, 'Sir, I'm waiting for my husband to come and pick me up.' JRD said, 'It is getting dark and there's no one in the corridor.

I'll wait with you till your husband comes.'

I was quite used to waiting for Murthy, but having JRD waiting alongside made me extremely uncomfortable.

I was nervous. Out of the corner of my eye I looked at him. He wore a simple white pant and shirt. He was old, yet his face was glowing. There wasn't any air of superiority about him. I was thinking, 'Look at this person. He is a chairman, a well-respected man in our country and he is waiting for the sake of an ordinary employee.'

Then I saw Murthy and I rushed out. JRD called and said, 'Young lady, tell your husband never to make his wife wait again.' In 1982 I had to resign from my job at Telco. I was reluctant to go, but I really did not have a choice. I was coming down the steps of Bombay House after wrapping up my final settlement when I saw JRD coming up. He was absorbed in thought. I wanted to say goodbye to him, so I stopped. He saw me and paused.

Gently, he said, 'So what are you doing, Mrs. Kulkarni?' (That was the way he always addressed me..) 'Sir, I am leaving Telco.'

'Where are you going?' he asked. 'Pune, Sir. My husband is starting a company called Infosys and I'm shifting to Pune.'

'Oh! And what will you do when you are successful.'

'Sir, I don't know whether we will be successful.' 'Never start with diffidence,' he advised me 'Always start with confidence. When you are successful you must give back to society. Society gives us so much; we must reciprocate. Wish you all the best.'

Then JRD continued walking up the stairs. I stood there for what seemed like a millennium. That was the last time I saw him alive.

Many years later I met Ratan Tata in the same Bombay House, occupying the chair JRD once did. I told him of my many sweet memories of working with Telco. Later, he wrote to me, 'It was nice hearing about Jeh from you.

The sad part is that he's not alive to see you today.'

I consider JRD a great man because, despite being an extremely busy person, he valued one postcard written by a young girl seeking justice. He must have received thousands of letters everyday. He could have thrown mine away, but he didn't do that. He respected the intentions of that unknown girl, who had neither influence nor money, and gave her an opportunity in his company. He did not merely give her a job; he changed her life and mindset forever.

Close to 50 per cent of the students in today's engineering colleges are girls. And there are women on the shop floor in many industry segments. I see these changes and I think of JRD. If at all time stops and asks me what I want from life, I would say I wish JRD were alive today to see how the company we started has grown. He would have enjoyed it wholeheartedly.

My love and respect for the House of Tata remains undiminished by the passage of time. I always looked up to JRD. I saw him as a role model for his simplicity, his generosity, his kindness and the care he took of his employees. Those blue eyes always reminded me of the sky; they had the same vastness and magnificence.

(Sudha Murthy is a widely published writer and chairperson of the Infosys Foundation involved in a number of social development initiatives. Infosys chairman Narayana Murthy is her husband.)

Attached Files
JRD.jpg (7.8 KB, 8 views)
Priya
Priya Picture
1129 Posts
back to top
  Rated 0 | Posted 27-07-2009

Priya,



Thanks for sharing such a wonderful information. I also would like to share th... See Prabha's complete reply


Thanks so much for sharing this with us Prabha :)

Pankaj
Pankaj Picture
82 Posts
back to top
  Rated 0 | Posted 30-07-2009

thanks for sharing.
good one.

+11
Vote Vote

Recently in HR Forums

Hitesh posted a new forum topic in
06-04-2023
Arun posted a new forum topic in
15-02-2023
 
Recent (10) | HR | Both
HR | Both   1 of 10
23-09-2019
27-01-2018
27-01-2018
07-08-2017
26-05-2017
Arun
Arun
Read this topic:
Joke ####@@@####
26-05-2017
25-05-2017
03-04-2017
27-03-2017
27-03-2017