In this post, we are going to discuss Lakshmi Mittal net worth.
Lakshmi Mittal is an Indian steel magnate and one of the richest people in the world. His net worth is estimated to be $16.3 billion as of 2023
Mittal was born into a family of entrepreneurs. His father, Mohanlal Mittal, founded a small steel company in the early 1970s. Lakshmi Mittal took over the company in the early 1980s and turned it into a global steel powerhouse.
Today, Mittal Steel Company is the world’s largest steel producer. Mittal also has interests in other industries, including mining and telecommunications.
Mittal is one of the most philanthropic billionaires in the world. He has given millions of dollars to charity, including to the Harvard Business School and the London School of Economics.
Mittal is a citizen of both India and the United Kingdom. He lives in London with his wife and four children.
Lakshmi Mittal is one of the richest people in the world. His net worth is estimated to be $31.1 billion as of 2019. Mittal is the founder and CEO of Mittal Steel Company, the world’s largest steel producer.
He also has interests in other industries, including mining and telecommunications. Mittal is one of the most philanthropic billionaires in the world, and he has given millions of dollars to charity, including to the Harvard Business School and the London School of Economics.
Mittal is a citizen of both India and the United Kingdom, where he lives in London with his wife and four children.
Who is Lakshmi Mittal?
Lakshmi Mittal is a business magnate and the chairman, also CEO of ArcelorMittal, the world’s largest steelmaking company. He is also the wealthiest person in Europe, with a net worth of $27.7 billion as of 2019.
Mittal made his fortune in the steel industry, but he has also ventured into other businesses, including real estate, telecoms, and mining.
Mittal was born in 1950 to a Hindu family in the Indian state of Rajasthan. He began his career in the steel industry in the 1970s, working for his father’s company. He later founded his own steelmaking company, which he eventually sold to purchase Arcelor.
Under his leadership, the company expanded significantly in both size and scope, growing into one of the world’s leading steel producers.
Mittal has faced criticism during his career for accusing unfair business practices, including questionable use of tax laws and importing laborers from China on unfavorable contracts. He was also implicated in a bribery scandal in India, but he was later cleared of all charges.
Mittal has been involved in politics in his native country, but he has faced criticism for not doing enough to help the needy in India.
He was knighted by Queen Elizabeth II in 2000 and received a French Legion of Honor title in 2007. Mittal attended the elite Campion School in London and is a self-made billionaire. He lives in London with his wife and four children.
Despite his controversies, Lakshmi Mittal is one of the most successful businessmen in the world. He has built ArcelorMittal into a leading steel producer and created thousands of jobs in the process.
He is also a major philanthropist, donating millions of dollars to charity each year. Mittal is a fascinating figure with an incredible story of rags to riches, and he is sure to continue making waves in the business world for many years to come.
Lakshmi Mittal Net Worth 2023
He holds an MBA degree from the University of Calcutta in India and another one from the Booth School of Business at the University of Chicago in the United States.
Mittal started his career in the steel industry in 1976, when he joined his father’s company, Lakshmi Mittal Steel Company (LMSC), as a junior executive. In 1994, he became CEO of LMSC and in 1995, he transformed it into Arcelor.
Mittal has been a vocal advocate of free trade and globalization. He has been criticized for human rights abuses in the context of his business operations in Africa, and for dodging taxes in the UK.
Lakshmi Mittal was born on 15 June 1950 to Mohan Lal Mittal and Promila Mittal in Sadulpur, a village located in the Churu district of Rajasthan, India. Lakshmi Mittal went to school at Campus School in Hisar, Haryana, and completed his secondary education from DAV.
Boys Senior Secondary School in Hisar. He obtained his Bachelor’s degree in Metallurgical Engineering from the Indian Institute of Technology (BHU) Varanasi in 1971.
After graduating from the Indian Institute of Technology, he joined his father’s steel company, Mittal Steel Company Ltd, then known as Lakshmi Iron and Steel Private Limited.
When he joined the family business, it was producing long products like rods and nails. Under him, the company’s production capacity grew from million tons in 1995 to 10 million tons in 2005.
Lakshmi Mittal: Career and Education
After moving to India in 1973, the industrialist, Lakshmi Mittal started his career by working in a steel mill in Indonesia. After two years he returned to India and joined a steel company named ‘Mittal Steel Company Limited’, which belonged to his father.
However, when the company was facing a serious financial crisis he decided to leave it and started working as a commodity trader.
He worked for some years and later joined back his father’s steel company. He successfully managed the companies on behalf of his father, who had become an invalid by then.
It was under Lakshmi Mittal’s leadership that Hindustan Steel was transformed into one of the world’s top steel-producing companies, after merging with some other companies.
In 2006, Lakshmi Mittal became the richest person in the world with a net worth of $51.4 billion.
Besides being an industrialist, Lakshmi Mittal is also involved in various social activities. He has established the Laxmi Mittal South Asia Foundation (LSAF), which is committed to providing quality education to the students of South Asia.
Recently, he also pledged Rs 200 crore for setting up a state-of-the-art center for cancer treatment in Andhra Pradesh.
ArcelorMittal is the world’s most powerful steel-producing company with an annual production capacity of 97.5 million tons. Headquartered in Luxembourg, the company has operations in more than 60 countries and employs around 283,000 people.
It is currently the world’s second-largest steel producer after China’s Hebei Iron and Steel Group Corporation.
Lakshmi Mittal: Achievements
According to Forbes billionaire list 2011, he was the 6th richest person in the world with a net worth of $20.7 billion.
Lakshmi Mittal was born on June 15, 1950, in Sadulpur, Rajasthan, India into a family of steelmakers. Mittal’s father, Mohan Lal Mittal, founded and ran a small steel company called Aashiana Iron Works.
Lakshmi Mittal attended St. Xavier’s School, Calcutta. He graduated from the University of Delhi in 1971 with a degree in economics.
Lakshmi Mittal started his career in the 1970s as a junior executive at his father’s company. In 1976, he moved to Indonesia to work for the steel company Krakatau Steel.
In 1980, he relocated to Paris and worked for Inland Steel Company. In 1982, he became the director of the company’s Lille branch.
In 1985, Lakshmi Mittal returned to his father’s business in India before forming his own steel company – Ispat International in 1988.
His break into big-time international steel making came in 1998 when he merged Ispat with LNM Holdings, a Dutch steel company. The new company was called Arcelor.
In 2002, Mittal became the chairman and CEO of Arcelor. He made a series of aggressive acquisitions, including Canada’s Stelco and Mexico’s Altos Hornos de Mexico. By 2006, Arcelor was the biggest steelmaker in the world.
In 2006, Arcelor merged with Spanish rival Australia to become Aceralia-Lakshmi Mittal (AL). The new company produced about 10% of the total crude steel production in the world.
Lakshmi Mittal In The Media
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FAQ: Lakshmi Mittal Net Worth
👉 What is the Lakshmi Mittal net worth?
The Lakshmi Mittal net worth is estimated to be $31.5 billion as of 2019. This makes him one of the richest people in the world.
✅ How did Lakshmi Mittal become so wealthy?
Lakshmi Mittal became one of the richest people in the world by owning ArcelorMittal, which is the largest steel-making company. He also owns an automotive components manufacturer called InterKingdom Accessories Limited. Lakshmi Mittal's father started a steel company that he sold to Ispat, which was then part of the state-owned steel monopoly. When this business was privatized, Mittal took it over and built it up as Mittal Steel Company.
👉 What is Lakshmi Mittal's background?
Lakshmi Mittal has an engineering degree from his hometown college in India and a master's degree from Cambridge University. He is considered to be one of the hardest workers in his industry.
Conclusion: Lakshmi Mittal Net Worth 2023
Lakshmi Mittal, the steel magnate, is one of the richest people in the world. His net worth is estimated at over $31 billion. Mittal owes his fortune to his steel empire, which he founded in 1976.
Today, Mittal Steel Company is the largest steel company in the world.
Mittal is the son of Mohan Lal Mittal, a government contractor. His grandfather was also in the steel business and had to leave Kolkata (then Calcutta) because he could not compete against Chinese mills.
Mittal is an alumnus of St Xavier’s College in Calcutta. He obtained his Bachelor’s degree in Metallurgical Engineering from the Indian Institute of Technology, Delhi in 1973.
Mittal’s steel empire is not without controversy. In 2006, Mittal’s company merged with Arcelor, creating the world’s largest steel company.
The merger was met with resistance from European Union antitrust regulators, who were concerned that the new company would have a monopoly on the European steel market.
