CURRENT AFFAIRS

Detailed explanation-1: -Ratan Tata, chairman Emeritus of Tata Sons, has made an investment in Xiaomi. This is the first investment by any Indian in Xiaomi. Lei Jun, founder and CEO of Xiaomi, is happy to say: “Mr. Tata is one of the most well-respected business leaders in the world.

Detailed explanation-2: -Ratan Tata is the only Indian investor in Xiaomi. Ratan Tata, the Chairman Emeritus of Tata Sons, is the only Indian investor in Chinese smartphone maker Xiaomi, according to its IPO filings. Tata picked a 0.0024% stake (49, 583 shares) in 2015 through his Singapore-based company RNT Associates International.

Detailed explanation-3: -Ratan Tata acquired a tiny stake in Xiaomi Corp. in April 2015 as the smartphone maker, once called Apple of China, was trying to regain ground it had ceded to compatriot brands like Oppo, Vivo and Huawei.

Detailed explanation-4: -In April 2015, Ratan Tata acquired a stake in Xiaomi.

Detailed explanation-5: -Ratan Tata has a net worth of Rs 3800 crore, which was largely sourced from Tata Sons. He was ranked at 421 on the list of richest Indians, as per IIFL Wealth Hurun India Rich List 2022. As per the ranking, he stood at 433rd position, with Rs 3, 500 crore in net wealth in 2021.