In this success post, we are going to share the story of Lakshmi Mittal, an Indian steel magnate, based out of the United Kingdom. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company.
Mittal owns 40% of the ArcelorMittal and holds around 20% stake in the Queens Park Rangers F.C.
In the year 2005, Forbes ranked Mittal as the third richest person across the globe, which makes him the first Indian citizen to be ranked in the top ten in the published annual list of world richest people. In the year 2017, Mittal was considered to be the richest Asian person in Europe.
He was ranked the sixth richest person in the world by Forbes in 2019 but dropped to 170th position in March 2020.
Lakshmi Mittal Early Life and Career
Lakshmi Mittal was born in a Baniya family. He studied at Shri Daulatram Nopany, Calcutta, from 1957 to 1964. He graduated from the St. Xavier College, affiliated to the University of Calcutta, with a B.Com degree in the first class.
In the year 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. Until the year the 1990s, the main family assets in India were a cold rolling mill for sheet steels in the Nagpur and an alloy steels plant near Pune. Today, the family business, including a large integrated steel plant near Mumbai, is run by his younger brothers Pramod Mittal and Vinod Mittal, but Lakshmi has no connection with it.
Lakshmi Mittal Personal Life
Lakshmi Mittal was born on the 15th of June 1950 in the Rajasthani Marwari family in Sadulpur, Rajasthan. He is married to Usha Mittal. They have a son Aditya Mittal and a daughter named Vanisha Mittal.
In the year 2005, he bought a colonial bungalow for $30 million at No. 22, Dr. APJ Abdul Kalam Road, New Delhi, one of the most exclusive streets in India, occupied by embassies and billionaires, and rebuilt it as a house.