Aman Trivedi
One of the most respected industrialists globally, Ratan Tata isn't on the Forbes list of the world's richest people. Let's find out why the name of such a big businessman is missing from the list.
He has been the chairman of Tata Group for many years, from salt to aeroplanes his business ranges to every field and 29 of the Tata Group companies are listed in the market.
The market cap of these listed companies is Rs 31.6 Trillion, and in such a situation, a natural question arises as to why the chairman of such a big group isn't on the list.
Ratan Tata's dedication towards social service is the answer to the question. The main investment holding company of Tata Group is Tata Sons and most of its profits go to Tata Trust.
The trust's money is used for many charitable works and focuses on important areas like health care, education, employment generation, and cultural promotion.
Since he gives most of the earnings from Tata Sons company to the trust rather than for personal benefit, there is no major change in Ratan Tata's net worth.
This is the reason why Ratan Tata does not appear in this list of billionaires. Also, he stepped down from the post of chairman of Tata Sons in the year 2012 and was the chairman from 1990-2012.