Lakshmi Mittal

$29.15 B

Ranked #80 in World

About Lakshmi Mittal

Renowned Indian-born steel tycoon Lakshmi Niwas Mittal, who operates out of the United Kingdom, helms ArcelorMittal, the globe's second-largest steel producer, and chairs Aperam, a prominent stainless steel firm. With a B.Com from St. Xavier's College, Mittal's entrepreneurial spirit was sparked by his father's steel enterprise. Despite controversies, including the "Cash for Influence" scandal, Mittal's notable philanthropy supports sports and education in India. His 2016 net worth was estimated at £7.12 billion, ranking him among India's wealthiest.

Born

June 15, 1950

Age

75 years

Source Of Wealth

Steel

Industries

Metals & Mining

Citizenship

India

Residence

London

Education

Bachelor of Arts/Science, St Xavier's College Calcutta

Lakshmi Niwas Mittal was born on June 15, 1950, in a Marwari Hindu family in Calcutta, India. His father, Mohan Lal Mittal, ran a steel business called Nippon Denro Ispat. Mittal graduated from St. Xavier's College with a Bachelor of Commerce (B.Com) degree.

Lakshmi Mittal: Family

Lakshmi Niwas Mittal is married to Usha Dalmia, and they have two children: a son named Aditya and a daughter named Vanisha.

Lakshmi Mittal: Career Highlights

Mittal opened his first steel factory in Indonesia in 1976. In 1989, he purchased state-owned steel works in Trinidad and Tobago and turned them into profitable ventures. In 1995, he acquired the Irish Steel plant in Cork, Ireland, but closed it six years later. In 2001, he renamed Sidex Galati to Ispat Sidex and acquired PHS Steel Group from the Polish government in 2003. He also renamed Ispat Mexicana and Ispat Karmet in 2001.

Mittal's most significant achievement came in 2006 when he acquired Arcelor, a Luxembourg-based steel company, for $33 billion. This acquisition created the world's largest steelmaking company, ArcelorMittal, with Mittal as its executive chairman.

Lakshmi Mittal: Companies

Lakshmi Niwas Mittal is the executive chairman of ArcelorMittal, the world's second-largest steelmaking company. He is also the chairman of stainless steel manufacturer Aperam and owns 38% of ArcelorMittal. Additionally, he holds a 3% stake in EFL Championship side Queens Park Rangers.

Lakshmi Mittal: Major Achievements

Mittal's major achievements include turning around the fortunes of state-owned steel works in Trinidad and Tobago, acquiring and successfully managing the Irish Steel plant in Cork, Ireland, and renaming Sidex Galati to Ispat Sidex. He also acquired PHS Steel Group from the Polish government and renamed Ispat Mexicana and Ispat Karmet.

Mittal's most significant achievement was the acquisition of Arcelor in 2006, creating the world's largest steelmaking company, ArcelorMittal.

Lakshmi Mittal: Awards & Achievements

Mittal has received numerous awards and honours, including the Padma Vibhushan, India's second-highest civilian honour, in 2008.

He was also knighted by Queen Elizabeth II in 2007 for his services to the British steel industry.

Lakshmi Mittal: Personal Life & Legacy

Mittal is a lacto-vegetarian and owns several expensive properties, including a house in Kensington Palace Gardens and a colonial bungalow in New Delhi. He is known for his philanthropy and has established several charitable foundations, including the Mittal Champions Trust and the LNM Institute of Information Technology (LNMIIT) in Jaipur.

Lakshmi Mittal: Trivia

Mittal was accused of allowing "slave labour" conditions after multiple fatalities in his mines. He was also involved in the "Cash for Influence" scandal involving a letter from Tony Blair to the Romanian government supporting Mittal's bid for state-owned steel assets.

Wealth History

Timeline

Lakshmi Niwas Mittal was born in a Marwari Hindu family in Calcutta, India.

Mittal graduated from St. Xavier's College with a B.Com degree.

Mittal's father ran a steel business, Nippon Denro Ispat.

1976

Mittal opened his first steel factory in Indonesia.

1989

Mittal purchased state-owned steel works in Trinidad and Tobago, turning them into profitable ventures.

1995

Mittal acquired Irish Steel plant in Cork, Ireland, but closed it six years later.

2001

Mittal renamed Sidex Galati to Ispat Sidex.

2003

Mittal acquired PHS Steel Group from the Polish government.

2001

Mittal renamed Ispat Mexicana and Ispat Karmet.

Mittal was accused of allowing "slave labour" conditions after multiple fatalities in his mines.

Mittal was involved in the "Cash for Influence" scandal involving a letter from Tony Blair to the Romanian government supporting Mittal's bid for state-owned steel assets.

Mittal had donated £125,000 to the British Labour Party the previous year.

Mittal established the Mittal Champions Trust with $9 million to support Indian athletes.

Mittal awarded Abhinav Bindra with Rs. 1.5 Crore for winning India's first individual Olympic gold medal in shooting.

Mittal provided steel for the construction of the ArcelorMittal Orbit for the 2012 Summer Olympics.

Mittal matched funds raised on the BBC programme, The Apprentice, for Comic Relief.

Mittal purchased a 20% shareholding in Queens Park Rangers football club.

Mittal established the LNM Institute of Information Technology (LNMIIT) in Jaipur.

Mittal founded the Usha Lakshmi Mittal Institute of Management in New Delhi.

Mittal donated £15 million to Great Ormond Street Hospital in London.

Mittal contributed ₹100 crores to PM cares fund during the COVID-19 pandemic in India.

Mittal is married to Usha Dalmia, has a son Aditya and a daughter Vanisha.

Mittal owns several expensive properties, including a house in Kensington Palace Gardens and a colonial bungalow in New Delhi.

Mittal follows a lacto-vegetarian diet.

2016

Mittal's net worth was estimated at £7.12 billion according to the Sunday Times Rich List.

2016

Mittal was ranked as the 135th-wealthiest billionaire by Forbes, with a net worth of US$8.4 billion.

2008

Mittal's net worth peaked at £27.70 billion (The Sunday Times) and US$45.0 billion (Forbes), making him the fourth-wealthiest individual in the world.

2022

Mittal was ranked as the 15th richest man in India by Forbes, with a net worth of US$17.8 billion.

Mittal received the Tim Bouquet and Byron Ousey – Cold Steel (Little, Brown, 2008) award.

2010

Mittal received the Navalpreet Rangi – Documentary Film (The Man with a Mission) award.

Lakshmi Mittal : FAQs

What is Lakshmi Mittal's current net worth?

Lakshmi Mittal's current net worth is $29.15 billion.

What is Lakshmi Mittal's current global rank among billionaires?

Lakshmi Mittal holds the 80th position globally among billionaires.

What is Lakshmi Mittal's current ranking within the India?

Lakshmi Mittal holds the 5th position in India.

What was the change in Lakshmi Mittal's net worth compared to the previous year?

Lakshmi Mittal's net worth increased by 5.2 billion dollars compared to the previous year 2025, when his net worth was 23.95 billion dollars.

What is the recent change in Lakshmi Mittal's net worth?

Lakshmi Mittal's net worth increased by 569.1 million dollars recently, a 1.95% increase, with his net worth standing at 29.15 billion dollars.

What are Lakshmi Mittal's main sources of wealth?

Lakshmi Mittal's main source of income comes from Steel.

In which industry does Lakshmi Mittal primarily operate?

Lakshmi Mittal is primarily involved in the Metals & Mining industry.

What is Lakshmi Mittal educational background?

Lakshmi Mittal holds a Bachelor of Arts/Science from St Xavier's College Calcutta.

How old is Lakshmi Mittal?

Lakshmi Mittal is 75 years old.

How many children does Lakshmi Mittal have?

Lakshmi Mittal has 2 children.

Who is Lakshmi Niwas Mittal and what is his connection to the global steel industry?

Lakshmi Niwas Mittal is an Indian steel magnate, executive chairman of ArcelorMittal, the world's second-largest steelmaking company, and chairman of Aperam, a major stainless steel manufacturer. Based in the United Kingdom, he owns 38% of ArcelorMittal and a 3% stake in the EFL Championship side Queens Park Rangers.

Can you describe Lakshmi Mittal's early life and his entry into the steel industry?

Lakshmi Mittal was born in a Marwari Hindu family in Calcutta, India, and graduated from St. Xavier's College with a B.Com degree. His father ran a steel business, and Mittal opened his first steel factory in Indonesia in 1976. He expanded his operations by purchasing and successfully turning around various state-owned steel works globally.

What kinds of social work initiatives has Lakshmi Mittal been involved in?

Lakshmi Mittal has contributed significantly to social work by establishing the Mittal Champions Trust to support Indian athletes, founding educational institutes like LNMIIT in Jaipur and Usha Lakshmi Mittal Institute of Management in New Delhi, and donating substantially to causes like the Great Ormond Street Hospital and the PM cares fund during the COVID-19 pandemic.

What is known about Lakshmi Mittal's personal life and lifestyle?

Lakshmi Mittal is married to Usha Dalmia and has two children. Known for his extensive property holdings, he owns luxury residences such as a house in Kensington Palace Gardens and a colonial bungalow in New Delhi. He follows a lacto-vegetarian diet.

How has Lakshmi Mittal's personal wealth varied over the years and where does he stand today?

Lakshmi Mittal's net worth was estimated at £7.12 billion in 2016, and despite peaks in 2008 where he was the fourth-wealthiest individual worldwide, he was ranked as the 15th richest man in India by Forbes in 2022 with a net worth of US$17.8 billion.