Lakshmi N. Mittal
Lakshmi Niwas Mittal (born 15 June 1950) is an Indian steel magnate. He is the chairman and chief executive officer of ArcelorMittal, the world’s largest steelmaking company.
Mittal is the richest man in India, Asia and the United Kingdom, and second in Europe and is presently the 6th richest individual in the world with a personal wealth of US$20.7 billion. He is the 44th "most powerful person" of the 68 individuals named in Forbes's Most Powerful People list. His daughter Vanisha Mittal's wedding was the most expensive in the recorded history of the world.
Mittal is an independent director of Goldman Sachs, member of Board of Directors to Goldman Sachs Media/Film IP Group, member of the Board of Directors of European Aeronautic Defence and Space Company,World Steel Association, Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the Investors' Council to the Cabinet of Ministers of Ukraine, the World Economic Forum’s International Business Council, the World Steel Association's Executive Committee, the Presidential International Advisory Board of Mozambique and the International Iron and Steel Institute’s Executive Committee.
He also presently serves as a board council member of the Prime Minister of India's Global Advisory Council of Overseas Indians. and members in the Advisory Board of the Kellogg School of Management, Executive Board at Indian School of Business and St. Xavier's College, Calcutta Alumni Association, London Chapter.[citation needed]
In 2006, Financial Times named him "Person of the Year". In 2007, Time magazine included him in their "100 most influential persons in the world".
Early life and career
Lakshmi Narayan Mittal alias Lakshmi Niwas Mittal was born into a Hindu Indian Marwari business family in Churu district of Rajasthan, India. His family moved from (Rajgarh)Sadulpur, Rajasthan to Calcutta in West Bengal. Mittal has two siblings (brothers) named Pramod Mittal and Vinod Mittal. He graduated from St. Xavier's College, Calcutta with a Bachelor of Commerce degree in business and accounting. While out of college, Mittal turned to his family’s steel business which he helped run until a falling out with his father, mother, and brother. After this Mittal branched into his own business with the purchase of a plant located in Indonesia in 1976.[14] It was this purchase which led to the creation of Arcelor Mittal. His father, Mohan Lal Mittal, ran a steel business, Nippon Denro Ispat. 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. Today, the family business, including a large integrated steel plant near Mumbai, is run by Lakshmi's brothers, Pramod and Vinod, but Lakshmi has no connection with it.[15]
Mittal started his career working in the family's steel making business in India, and in 1976, when the family founded its own steel business, he set out to establish its international division, beginning with the buying of a run-down plant in Indonesia. Shortly afterwards he married Usha, the daughter of a well-to-do moneylender. In 1976, due to differences with his father, mother and brothers,branched out on his the LNM Group, and he has been responsible for the development of its businesses ever since. Mittal Steel is a global steel producer with operations in 14 countries.[citation needed]
Lakshmi Mittal
Born 15 June 1950 (age 61)
Sadulpur, Rajasthan, India
Residence London, United Kingdom
Nationality Indian
Ethnicity Marwari
Citizenship India
Alma mater St. Xavier's College, Calcutta (B.Com.)
Occupation Chairman & CEO of ArcelorMittal
Director of Goldman Sachs
Owner of Karrick Limited
Co-owner of
Queens Park Rangers F.C.
Known for King of Steel, Steel tycoon
Net worth increase US$ 20.7 billion (2012)
Religion Hinduism
Children Vanisha Mittal
Aditya Mittal
Awards Padma Vibhushan (2007)
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