Quote of the Day by Ratan Tata: 'Power and wealth are not two of my main stakes'

"Power and wealth are not two of my main stakes,” a powerful quote by Ratan Tata, reminds us of the importance of passion and value.

Tata stated that, "I would like to be remembered as a clean businessman who has not partaken in any twists and turns beneath the surface, and one who has been reasonably successful. Power and wealth are not two of my main stakes."

Who was Ratan Tata 

Ratan Tata (1937-2024) was an iconic Indian industrialist, philanthropist, and the former Chairman of the Tata Group. He was widely regarded as one of India's most respected business leaders, known for transforming a largely India-centric conglomerate into a global powerhouse while maintaining a steadfast commitment to ethical values.

Born into the prominent Tata family in Mumbai, he studied architecture at Cornell University before returning to India in 1962.

Under his stewardship, the group made high-profile international acquisitions, including Tetley Tea, Jaguar Land Rover, and Corus Steel. Ratan Tata was the visionary behind projects like the Tata Nano, envisioned as the world's most affordable car for the Indian middle class.

He was awarded two of India's highest civilian honours: the Padma Bhushan (2000) and the Padma Vibhushan (2008). Tata passed away on October 9, 2024, at the age of 86 in Mumbai, leaving behind a legacy of "business with a purpose".

When was this quote said by Ratan Tata?

Ratan Tata said this in February 2011.

The quote is from an interview published in the inaugural issue of Fortune India Magazine. During this conversation, he reflected on his upcoming retirement (which took place in December 2012), firmly ruled out ever entering politics, and discussed how he wished to be remembered as a clean businessman.

What does this quote mean? 

This quote reflects Ratan Tata’s core philosophy that business success should be measured by ethics, societal impact, and personal integrity, rather than by personal fortune or control.

By stating that power and wealth were not his main stakes, he redefined what it means to be a corporate leader, especially in an era driven by profit maximization. Instead of using the vast Tata empire to accumulate private riches or exert political influence, he prioritised the welfare of the community through the Tata Trusts, which own the majority of the conglomerate.