Ratan Tata, head of India’s largest conglomerate, poorer than Raamdeo Agrawal

NEW DELHI: There are 432 Indians richer than Ratan Tata. Let that sink in!

It is 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.

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 Raamdeo Agrawal (Rs 4,400 crore) and Rakesh Jhunjhunwala (Rs 22,300). In fact, 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.

Ratan Tata controls these companies through Tata Sons, which is one way or other the parent firm of all Tata Group companies. On Friday, it added Air India in its kitty as well, with the government approving its bid for the loss-making airline.

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