Why is He famous?
Lakshmi Mittal’s life is a rag- to-riches story with a twist, as in he literally went from rags to riches. As a youth, he lived on bare floors and slept on a thin, rope mattress. These days, Lakshmi Mittal owns a majority stake in ArcelorMittal (the world’s largest steel company), lives in one of the world’s most expensive homes and sits at No. 4 on the Forbes list of wealthiest people.
Born: June 15, 1950, Sadulpur, Rajasthan, India.
Age: 59
Country Of Citizenship: India
Residence: London , United Kingdom, Europe & Russia
Religious stance: Hinduism
Occupation: Chairman & CEO of Arcelor Mittal
Net worth: $31.1 billion USD
Fortune: Inherited and growing
Source: Steel
Industry: Manufacturing
Website: mittalsteel.com
Marital Status: Married, 2 children
Education: St Xavier’s College Calcutta, Bachelor of Arts / Science.
Lakshmi Mittal Biography
Lakshmi Mittal was born in what would be considered abject poverty by us cushy Westerners, but was actually quite comfortable by pre-Independence Indian standards. Like most families in India, multiple generations of Mittals shared the same large house, a house built by Lakshmi’s grandfather that lacked many basic necessities. That inauspicious upbringing instilled a drive in Lakshmi that would eventually lead him to wild success.
lakshmi mittal’s father sets things in motion
Small steel mills are common across the countryside of India, and Lakshmi Mittal’s father decided there was room for at least one more. The little mill sold 80% of its output to a Calcutta-based broker who was so impressed by the elder Mittal’s acumen, they invited him to move to the big city and work for them. Lakshmi Mittal suddenly found himself very rich, and very much outside of his rural comfort zone.
lakshmi mittal joins the family business
After graduating with a Bachelor of Commerce degree, Lakshmi Mittal went to work for his father’s fledgling steelmaking business. The ambitious graduate was tasked with establishing an international division. His first order of business was to snap up a cheap, rundown mill in Indonesia. From there, the shrewd businessman leveraged, assimilated and staged hostile takeovers as he built the family business into the largest steel company in the world. In the process, he accumulated a fortune exceeding $45 billion, and made more than a few enemies along the way.
lakshmi mittal faces controversy
It’s no secret that wealth attracts controversy, and Lakshmi Mittal has had his share. When he was angling to buy Romania’s state-owned steel company, he got then-Prime Minister Tony Blair to write him a letter of recommendation. Normally, this is acceptable, but this particular letter hinted that if the Romanians didn’t sell to Lakshmi Mittal, they might not be accepted into the European Union. Adding fuel to the fire was the revelation that Lakshmi Mittal donated nearly $250,000 to Tony Blair’s party shortly after the letter was written.
lakshmi mittal gives money to olympians
The fourth richest man isn’t only about bribery or exploiting labor — the man gives an awful lot back. Disheartened by India’s lack of Olympic success (up until 2008, the nation of over 1 billion had never won an individual gold medal), Lakshmi Mittal established “Mittal Champions Trust,” with a $9-million endowment meant to support 10 of India’s top athletes. His charity obviously worked, as Abhinav Bindra won gold in the 2008 Summer Olympics in Beijing for shooting. For her efforts, Lakshmi Mittal gave her nearly $350,000.
lakshmi mittal goes house shopping
Considering he is one of the world’s wealthiest citizens, Lakshmi Mittal was surprisingly unknown to most, that is until he went house-hunting in London. Befitting a man of his stature, he chose a modest 12-bedroom home in the Kensington District. The price? $128 million. Then, he bought his son a nearby home for $230 million. Those aren’t typos. The world’s media latched on to the extravagant spending, and Lakshmi Mittal found himself being mentioned in the same breath as Bill Gates and Warren Buffet.
In 2008, he was named Britain’s richest citizen for the fifth straight year, he was appointed to the board of Goldman Sachs and saw his net worth increase by $13 billion. Not bad for a kid that began his life sleeping on a bare floor.
Lakshmi Mittal’s life is a rag- to-riches story with a twist, as in he literally went from rags to riches. As a youth, he lived on bare floors and slept on a thin, rope mattress. These days, Lakshmi Mittal owns a majority stake in ArcelorMittal (the world’s largest steel company), lives in one of the world’s most expensive homes and sits at No. 4 on the Forbes list of wealthiest people.
Age: 59
Country Of Citizenship: India
Residence: London , United Kingdom, Europe & Russia
Religious stance: Hinduism
Occupation: Chairman & CEO of Arcelor Mittal
Net worth: $31.1 billion USD
Fortune: Inherited and growing
Source: Steel
Industry: Manufacturing
Website: mittalsteel.com
Marital Status: Married, 2 children
Education: St Xavier’s College Calcutta, Bachelor of Arts / Science.
Lakshmi Mittal Biography
Lakshmi Mittal was born in what would be considered abject poverty by us cushy Westerners, but was actually quite comfortable by pre-Independence Indian standards. Like most families in India, multiple generations of Mittals shared the same large house, a house built by Lakshmi’s grandfather that lacked many basic necessities. That inauspicious upbringing instilled a drive in Lakshmi that would eventually lead him to wild success.
lakshmi mittal’s father sets things in motion
Small steel mills are common across the countryside of India, and Lakshmi Mittal’s father decided there was room for at least one more. The little mill sold 80% of its output to a Calcutta-based broker who was so impressed by the elder Mittal’s acumen, they invited him to move to the big city and work for them. Lakshmi Mittal suddenly found himself very rich, and very much outside of his rural comfort zone.
lakshmi mittal joins the family business
After graduating with a Bachelor of Commerce degree, Lakshmi Mittal went to work for his father’s fledgling steelmaking business. The ambitious graduate was tasked with establishing an international division. His first order of business was to snap up a cheap, rundown mill in Indonesia. From there, the shrewd businessman leveraged, assimilated and staged hostile takeovers as he built the family business into the largest steel company in the world. In the process, he accumulated a fortune exceeding $45 billion, and made more than a few enemies along the way.
lakshmi mittal faces controversy
It’s no secret that wealth attracts controversy, and Lakshmi Mittal has had his share. When he was angling to buy Romania’s state-owned steel company, he got then-Prime Minister Tony Blair to write him a letter of recommendation. Normally, this is acceptable, but this particular letter hinted that if the Romanians didn’t sell to Lakshmi Mittal, they might not be accepted into the European Union. Adding fuel to the fire was the revelation that Lakshmi Mittal donated nearly $250,000 to Tony Blair’s party shortly after the letter was written.
lakshmi mittal gives money to olympians
The fourth richest man isn’t only about bribery or exploiting labor — the man gives an awful lot back. Disheartened by India’s lack of Olympic success (up until 2008, the nation of over 1 billion had never won an individual gold medal), Lakshmi Mittal established “Mittal Champions Trust,” with a $9-million endowment meant to support 10 of India’s top athletes. His charity obviously worked, as Abhinav Bindra won gold in the 2008 Summer Olympics in Beijing for shooting. For her efforts, Lakshmi Mittal gave her nearly $350,000.
lakshmi mittal goes house shopping
Considering he is one of the world’s wealthiest citizens, Lakshmi Mittal was surprisingly unknown to most, that is until he went house-hunting in London. Befitting a man of his stature, he chose a modest 12-bedroom home in the Kensington District. The price? $128 million. Then, he bought his son a nearby home for $230 million. Those aren’t typos. The world’s media latched on to the extravagant spending, and Lakshmi Mittal found himself being mentioned in the same breath as Bill Gates and Warren Buffet.
In 2008, he was named Britain’s richest citizen for the fifth straight year, he was appointed to the board of Goldman Sachs and saw his net worth increase by $13 billion. Not bad for a kid that began his life sleeping on a bare floor.
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