Quote of the Day by Lakshmi Mittal: ‘When I think about parallels between myself and an Olympian, I believe that success in the world of business is underpinned by very similar principles of perseverance and hard work’

“When I think about parallels between myself and an Olympian, I believe that success in the world of business is underpinned by very similar principles of perseverance and hard work,” a quote by Lakshmi Mittal, Executive Chairman of ArcelorMittal.

That famous quote by Lakshmi Mittal, CEO of ArcelorMittal, highlights how high-level entrepreneurship mirrors elite athletic competition through relentless drive, focus, and resilience.

Who is Lakshmi Mittal

Born on June 15, 1950, in Rajasthan, to a modest Marwari family, Lakshmi Mittal is an Indian billionaire industrialist widely known as the "King of Steel." He is the executive chairman of ArcelorMittal, the world's largest steel and mining company by output. As of May 2026, he has made headlines for acquiring a majority stake in the IPL franchise Rajasthan Royals.

His wealth is estimated at approximately $28.4 billion according to Forbes. Other sources, like the Bloomberg Billionaires Index, estimate his fortune closer to $31 billion following significant gains in 2025.

He was the first Indian citizen to enter the top 10 of the Forbes global rich list, reaching as high as the third-richest person in the world in 2005.

He was awarded India's second-highest civilian honour, Padma Vibhushan, in 2008.

When was this quote said by Lakshmi Mittal?

Lakshmi Mittal stated this in July 2012 ahead of the London 2012 Olympic Games.

He submitted this statement to the official Olympic website when it was announced that he and his son, Aditya, were chosen to participate as torchbearers in the Olympic Torch Relay.

What does this quote mean?

This quote emphasises that the psychological blueprint for achieving elite success is identical, whether a person is competing on an Olympic track or navigating the global corporate arena. Lakshmi Mittal suggests that business leadership is not just an intellectual exercise, but a gruelling endurance test that requires the same mental fortitude, gruelling daily practice, and unwavering stamina as world-class athletics.

By drawing this parallel, he reframes the relentless pressures of entrepreneurship—such as surviving economic recessions, managing massive corporate risks, and outmanoeuvring global competitors—as an elite sport where long-term victory is ultimately decided by a person's refusal to quit when faced with extreme adversity.