Ratan Tata’s recent demise brought to mind a very interesting interview where he spoke about what happiness meant to him and how his idea of happiness evolved over time. What struck me was the clarity with which he thought about the subject, and how he categorised it.
Accumulation Of Wealth
Tata spoke about how he was extremely happy as he accumulated vast wealth. No surprises there. is would make any human being happy. More money never made anyone sad, for sure. But after a while, it failed to evoke the same happiness as before, he said.
End Use Of Money
Money is never an end in itself. Its value lies in what it can purchase. It could be a lifestyle, which is the most evident sign of wealth, or security and peace of mind (in matters of survival and comfort at least). It could even purchase experiences, such as a holiday in Iceland to see the Northern Lights, or a hot air balloon ride in Cappadocia, Turkey.
Tata’s immense wealth gave him the privilege of traveling wherever he wanted to, and purchase whatever he fancied, such as the Dassault Falcon private jet, along with his exotic car collection. He is also said to be a connoisseur of art, and bought exquisite paintings, manuscripts, textiles, arms, armaments, porcelain artifacts, and more such items from across the world. But after a while, when he was well acquainted with wealth, the appeal faded gradually.
Professional Achievements
This story is from the November 2024 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 2024 edition of Outlook Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Stay Ahead Of AI-Powered Cyber Fraud
AI has become an integral part of our lives, right from customer service at banks to insurance claims. But it has now become a powerful arsenal for the fraudsters too who are increasingly using AI to scam individuals and corporations alike to commit fraud. The key is to stay vigilant
Travelling To Europe? Pack In The Essential Covers
Smart travellers must know that insurance is a must-have. From essential health coverage to theft protection and trip interruptions, know what you need for a worry-free Europe trip
How To Spend Wisely This Year-End
We all spend during the year-end. But the trick is not to overspend or borrow, either from friends, or your own investment, to fund your indulgence. Maintaining balance is the key
Travel Now Pay Later (TNPL)
Travel now, pay later (TNPL) is a close cousin of the more popular buy now, pay later (BNPL) schemes.
12 Books Devina Mehra Loved Reading In 2024
Listing books of her choice, among the ones she reads during the year, is ace investor Devina Mehra's favourite year-end activity. She says it's a daunting task to pick around 12 books from a list of 50.
Here's How To Avail Of Ayushman Bharat Yojana
Launched in 2018, the Ayushman Bharat Yojana aimed to provide health coverage to targeted benefi ciaries from the Socio-Economic Caste Census (SECC) 2011, based on deprivation and occupational criteria.
'Focus On The Business, Assess If You Want To Be A Partner For 10-20 Years'
Professor Sanjay Bakshi, a value investor, behavioural economist and adjunct professor at Flame University, Pune, gives his unique perspective on how to choose a stock, in an interview with Nidhi Sinha, editor, Outlook Money, as part of the Wealth Wizards series. He also shares his learnings from role models Warren Buffett, Charlie Munger, Benjamin Graham and others, and how being a chartered accountant, economist, investor and teacher make him into what he is today. Edited excerpts from the interview
The New Trump Card For IT, Pharma
Donald Trump has been re-elected as the 47th President of the US after a gap of four years. Here's how it will affect the Indian markets and how it will benefit sectors such as IT, pharma, export-oriented sectors and others
European Sojourn
Tight on budget? Dump the popular European destinations for the little-known wonders that are equally attractive
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.