Ratan Tata, the business magnate, turned 86 today. He was born in Mumbai on December 28, 1937, to Naval Tata and Sooni Tata. The industrialist, entrepreneur, and Tata Sons Chairman Emeritus is well renowned for his national and worldwide humanitarian initiatives.

Ratan Tata has received two of India's highest civilian honors, the Padma Vibhushan (2008) and the Padma Bhushan (2000), for his immense contributions to nation-building.

Here are 10 Business Tycoon's Inspirational Quotes:

1) "Ups and downs in life are very important to keep us going because a straight line even in an ECG means we are not alive."

2) "One day you will realize that material things mean nothing. All that matters is the well-being of the people you love."

3) "The best leaders are those most interested in surrounding themselves with assistants and associates smarter than they are."

4) "I don't believe in work-life balance. I believe in work-life integration. Make your work and life meaningful and fulfilling, and they will complement each other."

5) "The biggest risk is not taking any risk. In a world that is changing quickly, the only strategy that is guaranteed to fail is not taking risks."

6) "Be persistent and resilient in the face of challenges, for they are the building blocks of success."

7) "Never underestimate the power of kindness, empathy, and compassion in your interactions with others."

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8) "You may not always have a comfortable life, and you may not always be able to solve all the world's problems, but don't ever underestimate the importance you can have, because history has shown us that courage can be contagious, and hope can take on a life of its own."

9) "Leadership is about taking responsibility, not making excuses."

10) "Don't wait for opportunities to come to you, create your own opportunities."