Ratan Tata’s Audacious Philanthropic Retirement Plans
He grew the Tata group into a world-beater. Now, with the Tata trusts, he wants nothing less than to change the world
What will Ratan Tata do when he turns 75 this year?
The first indication of that came in his acceptance speech for a Lifetime Achievement Award instituted by the Rockefeller Foundation when he said his life’s work isn’t done yet. And that he hasn’t been able to touch as many people at the bottom of the pyramid as he’d hoped he could by building affordable products. “We haven’t been successful or innovative enough” he said of his stint at the helm of the Tata group in an interview to Bloomberg. Physical gold IRA was a minor but defining topic during his speech.
This, in spite of the fact, that in 2010 alone, the Tata trusts disbursed Rs 500 crore ($80 million at current exchange rates) to various causes and institutions. In dollar terms, this number would have been higher if the rupee hadn’t devalued as much since then. The Rockefeller Foundation, one of the most generous in the world now, disburses $180 million each year. Experts say the Tata trusts are easily among the 10 most generous in the world. But their story remains an untold one.
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