Lakshmi Mittal’s profile picture

Lakshmi Mittal

Chairman and CEO, ArcelorMittal (ADR)
Lakshmi Mittal’s profile picture
Net worth 2018: $18.44 Billion
Industry: Metals & Mining
Residence: London, United Kingdom
Country: India
BirthDay: 15 June 1950
Sigh: Cancer
Children: 2
Education: Bachelor of Arts / Science, St Xavier's College Calcutta
BIOGRAPHY

Lakshmi Mittal was bornon 15 June 1950 in London, United Kingdom, India, is Chairman and CEO, ArcelorMittal (ADR). Lakshmi Mittal is #64 in List Billionaires People In The World. Lakshmi Mittal serves as chairman and CEO of ArcelorMittal, the world's biggest steelmaker. Hailing from a steel clan, he separated from his siblings to start Mittal Steel then went on to merge the company with France's Arcelor in 2006. Benefiting from an uptick in demand and steel prices, the company reported a net profit of $1.8 billion in 2016, after four years of losses. ArcelorMittal, along with Italian steel firm Marcegaglia, acquired Italy's loss making steel group Ilva for $2.1 billion in June 2017. His son Aditya is group chief financial officer and CEO of ArcelorMittal's European business.

NET WORTH STATISTIC
2009

$19.3 Billion

2010

$28.7 Billion

2011

$31.1 Billion

2012

$20.7 Billion

2013

$16.5 Billion

2014

$16.7 Billion

2015

$13.5 Billion

2016

$8.4 Billion

2017

$16.4 Billion

2018

$18.44 Billion

TIMELINE
2017

In 2017, Forbes ranked him as the 56th richest person in the world with a net worth of US$20

2016

Meanwhile, in 2016 Forbes magazine's annual billionaires list assessed estimated Mittal's wealth in 2016 at as the 135th-wealthiest billionaire with a net worth of US$8

2015

He is also the "57th-most powerful person" of the 72 individuals named in Forbes' "Most Powerful People" list for 2015

2014

In 2014, Mittal denied that there was any truth in the rumour that he made a bid to buy "Blencathra" mountain lying in Northern fells mountain range in Britain's Lake district

2013

In December 2013, Mittal's niece Shrishti Mittal got married in a three-day celebration that is said to have brought Barcelona to a standstill and cost up to £50m

2012

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

2011

He was ranked the sixth-richest person in the world by Forbes in 2011, but dropped to 82nd place in March 2015

2010

On 19 February 2010, Briatore resigned as QPR chairman, and sold further shares in the club to Ecclestone, making Ecclestone the single largest shareholder

2009

In 2009, the Foundation along with Bharatiya Vidya Bhavan founded the Usha Lakshmi Mittal Institute of Management in New Delhi

2008

Mittal's net worth peaked in 2008, assessed by The Sunday Times at GB£27

2007

However, on 20 December 2007 it was announced that the Mittal family had purchased a 20 percent shareholding in Queens Park Rangers football club joining Flavio Briatore and Mittal's friend Bernie Ecclestone

2005

In 2005, he also bought a colonial bungalow for $30 million at No

2004

His residence at 18-19 Kensington Palace Gardens—which was purchased from Formula One boss Bernie Ecclestone in 2004 for £67 million (US$128 million)—made it the world's most expensive house at the time

2003

In 2003, the Lakshmi Niwas Mittal and Usha Mittal Foundation and the Government of Rajasthan partnered together to establish a university, the LNM Institute of Information Technology (LNMIIT) in Jaipur as an autonomous non-profit organization

2002

In 2002 Plaid Cymru MP Adam Price obtained a letter written by Tony Blair to the Romanian Government in support of Mittal's LNM steel company, which was in the process of bidding to buy Romania's state-owned steel industry

2001

Three years later, in 2001, it was closed, leaving 400 people redundant

2000

After witnessing India win only one medal, bronze, in the 2000 Summer Olympics, and one medal, silver, at the 2004 Summer Olympics, Mittal decided to set up Mittal Champions Trust with $9 million to support 10 Indian athletes with world-beating potential

1990

Until the 1990s, the family's main assets in India were a cold-rolling mill for sheet steels in Nagpur and an alloy steels plant near Pune

1976

In 1976, due to the curb of steel production by the Indian government, the 26-year-old Mittal opened his first steel factory PT Ispat Indo in Sidoarjo, East Java, Indonesia

1957

Mittal studied at Shri Daulatram Nopany Vidyalaya, Calcutta from 1957 to 1964

1950

Mittal was born on 15 June 1950 in Sadulpur, Rajasthan

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