Home   »   Business & Economy   »   Lakshmi Nivas Mittal Biography

Lakshmi Nivas Mittal Biography

Lakshmi Mittal was born on June 15, 1950 in Sadulpur, Rajasthan, India and is presently the CEO & Chairman of Arcelor Mittal. He was listed in the Forbes List of Billionaires in 2006 as the richest Indian and the fifth richest man in the world with an estimated wealth around of $25.0 billion and is the richest man in the United Kingdom.

Young Lakshmi Nivas Mittal spent his first years in Sadulpur, before his father moved to Kolkata. Lakshmi graduated from St. Xavier’s College, Calcutta. He founded Mittal Steel in 1976, which soon became a global steel producer with operations on 14 countries. His success mantra lies in the identification, acquisition and turnaround of many loss-making steel companies all across the world.

In 1994, he took over the international operations of his family’s steel business. Arcelor Mittal is presently the world’s largest producer of low and mid-grade steels, with operations in Romania, Bosnia-Herzegovina, South Africa, Poland, Czech Republic, Indonesia, Kazakhstan and many other countries. Mittal is considered to be close to the British Prime Minister Tony Blair and has donated large sums of money to the Labour party coffers. He bought his residence at 18-19 Kensington Palace Gardens from Formula One car racing boss Bernie Ecclestone in 2004 for 57.1 million ($105.7 million), the highest-ever price paid for a house.

His son Aditya is the CFO(Chief Financial Officer) of Arcelor Mittal. Mr. Mittal has been nominated as a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum’s International Business Council, besides being a Director of ICICI Bank Limited and being on the Advisory Board of the Kellogg School of Management in the United States.

Lakshmi Mittal now ranks at 9 with net worth of $10.5B in Forbes’ India’s 100 richest people.