Lakshmi Mittal Net Worth and Biography

Lakshmi Mittal, also known as the Steel King, is one of the richest Indians in the world. He is the chairman of the biggest steel manufacturing company in the world, which is Arcelor Mittal.

Lakshmi MittalNet Worth: $ 13.5 billion

Income Sources: Lakshmi Mittal is the Chief Executive Officer and chairman of a leading company called Arcelor Mittal, which is recognized as largets steel manufacturer around the globe. He is the major shareholder in the company, owning 41% of the total stake. Also, Mittal has a 34% share in the football team called Queens Park Rangers FC.

Born: 2nd September, 1950 (65 years old)

Full Name: Lakshmi Niwas Mittal

Marital Status: Married to Usha Mittal and has two children, son Aditya Mittal and daughter, Vanisha Mittal.

Biography

Lakshmi Mittal was born in Sadulpur in Rjasthan and his life story is a typical rags to riches one, coming from a modest background and becoming one of the richest men in the world. He graduated in Commerce from the prestigious St Xavier College in Kolkata and also joined the Indian Institute of Social Welfare and Business Management, the first business school in India. His career began with his family business called Nippon Dehro Ispat, but son left due to personal differences and later went on to set up his own company called LNM Group. At present, his company is the biggest manufacturer of steel, with an astounding production capacity of 42.1 million tons of steel.

He was named as the richest Asian in the UK in 2007, besides being given the title of the sixth richest man in the world by Forbes in 2011. However, he dropped to the 21st place in this list in the following year, after incurring massive losses of $ 10.4 billion. Despite bearing these staggering losses, Mittal owned a personal wealth worth $ 16 billion, as estimated in 2013. He was titled as the 47th most powerful person by the Forbes magazine in 2012. Although he is the eighth richest man in Britain, he still does not hold a British citizenship. He was also honored with the prestigious Padma Vibhushan Award by the Government of India in 2008.

Lakshmi Mittal owns a large number of properties around the world, including his residence at 18-19 Kensington Palace Gardens, which is worth a whopping $ 128 million, making it one of the most expensive homes in the world. He also owns a colonial bungalow on Aurangzeb Road in Delhi, which is priced at an estimated $ 30 million. His daughter Vanisha Mittal is married to investment banker Amit Bhatia and their wedding is rated as one of the most expensive in the history, with a weeklong celebration on which nearly $ 78 million was spent. Besides his success in business, Mittal is also known for his humanitarian efforts, which include establishment of a trust called Mittal Champions Trust with $ 9 million. The organization is aimed to provide aid to athletes to win medals at the Olympics. He also made whopping donations to Great Ormond Street Hospital in London, which is the largest ever received by the hospital.

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