Finace And Stock

India’s top industrialist, philanthropist Ratan Tata ranks way down on rich list

NEW DELHI: Ratan Tata, India’s biggest industrialist and philanthropist, ranks way below on the rich list. The IIFL Wealth Hurun India Rich List 2021 showed there are 432 Indians richer than him.

It might be otherwise logical to expect that a person who has operated the largest business empire in India for nearly six decades and still holds huge influence on its companies will be among the top 10 or 20 richest Indians. But that is not the case. And the reason for this could be the massive philanthropy work that the Tatas do through the Tata Trust.

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 the 2020 list, Ratan Tata’s ranking was 198th with wealth at Rs 6,000 crore.

The research house did not specify why his wealth has come down drastically at a time when equities have rallied rapidly.

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.

His wealth is less than famous Dalal Street investors Rakesh Jhunjhunwala (Rs 22,300) and Raamdeo Agrawal (Rs 4,400 crore). Even Ignatius Navil Noronha, CEO of Avenue Supermart, is richer than Tata with wealth at Rs 5,800 crore.

Tata Group is a business empire with interests in metals & mining, informational technology, retail, auto, hospitality, chemicals, transport, utilities and many others. It has at least 29 listed companies and more unlisted ones. The current market cap of the listed companies alone stands at Rs 22,31,476.81 crore.

But Tatas never owned too much of their own company shares since Jamsetji Tata made the constitution itself such that majority of what they earned in Tata Sons was donated to Tata Trusts. Tatas have been the foremost philanthropists, much before the likes of Bill Gates came into the picture.

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