Lakshmi Mittal: Difference between revisions
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{{Infobox executive | {{Infobox executive | ||
| name = Lakshmi Mittal | | name = Lakshmi Mittal | ||
| image = | | image = Lakshmi Mittal LM.jpg | ||
| image_size = 300px | | image_size = 300px | ||
| caption = | | caption = | ||
Latest revision as of 05:36, 25 August 2026
| Personal details | |
| Born | Lakshmi Mittal June 15, 1950 (age 76) 🇮🇳 Sadulpur, Rajasthan, India |
| Nationality | 🇬🇧 British 🇮🇳 Indian |
| Citizenship | 🇬🇧 British 🇮🇳 Indian |
| Languages | 🇺🇸 English |
| Education | St. Xavier's College, Kolkata (BCom) |
| Spouse | Usha Mittal |
| Career details | |
| Occupation | Business magnate, steel magnate |
| Title | Executive Chairman of ArcelorMittal |
| Net worth | US$16 billion (December 2025) |
Lakshmi Niwas Mittal (born 15 June 1950) is an Indian-British steel magnate who built the world's largest steelmaker through aggressive acquisitions. As executive chairman of ArcelorMittal, he presides over a company producing nearly 70 million tonnes of steel annually with operations in 60 countries.[1]
With an estimated net worth of $15 billion, Mittal is one of the wealthiest people in the United Kingdom.[2]
Mittal's defining achievement came in 2006 when he executed a hostile $38.3 billion takeover of European steel giant Arcelor over fierce resistance from French, Spanish, and Luxembourg governments.[3] The merger created ArcelorMittal, briefly making Mittal the world's fourth-wealthiest person with a net worth of $45 billion during the 2008 commodity boom.[4]
Early life and education
Lakshmi Niwas Mittal was born on 15 June 1950 in Sadulpur, Rajasthan, India, into a Marwari Hindu family. His father, Mohanlal Mittal, ran a small steel business.[5]
Mittal attended St. Xavier's College, Kolkata, graduating with a Bachelor of Commerce degree in 1969.[6]
Career
In 1976, at age 26, Mittal established Indonesia's first steel plant, PT Ispat Indo.[7]
Over four decades, he built a global empire by acquiring struggling state-owned steel mills from Trinidad to Kazakhstan.[8]
Arcelor takeover (2006)
In 2006, Mittal launched a hostile bid for Arcelor that initially faced fierce resistance from European governments.[9] The $38.3 billion merger was completed in June 2006.[10]
Personal life
In 1971, Mittal married Usha Mittal in an arranged marriage. They have two children: Aditya Mittal (CEO of ArcelorMittal) and Vanisha Mittal.[11]
In 2004, Vanisha's wedding was described as one of the most expensive in history, reportedly costing $60 million.[12]
Mittal's London residence at Kensington Palace Gardens was purchased for £57 million in 2004.[13]
See also
References
- ↑ <ref>"ArcelorMittal Profile".ArcelorMittal.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Lakshmi Mittal Forbes Profile".Forbes.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal-Arcelor Merger".The New York Times.June 26, 2006.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal Wealth Peak".Bloomberg.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Lakshmi Mittal Biography".Encyclopædia Britannica.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal Education".Business Today India.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal Starts Indonesia Steel Plant".Financial Times.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal Acquisition Strategy".The Wall Street Journal.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal Arcelor Hostile Bid".Reuters.January 25, 2006.Retrieved December 15, 2025.</ref>
- ↑ <ref>"ArcelorMittal Created".BBC News.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal Family".The Guardian.June 26, 2005.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal Daughter Wedding".The Telegraph.June 22, 2004.Retrieved December 15, 2025.</ref>
- ↑ <ref>"Mittal London Home".The Independent.Retrieved December 15, 2025.</ref>