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Lakshmi Mittal Age, Net Worth, Family, Education & Biography

Who is Lakshmi Mittal?

Lakshmi is also known as Lakshmi Niwas Mittal. He is an Indian steel magnate located in the United Kingdom. Lakshmi was previously the CEO of ArcelorMittal, the world’s second-largest steelmaker, as well as the Chairman of Aperam, a stainless steel manufacturer.

Lakshmi Mittal Businessman
FULL NAMELakshmi Niwas Mittal
DATE OF BIRTH15 June 1950
AGE73 (as of 2023)
ZODIAC SIGNGemini
RELIGIONHinduism
HEIGHT (approx.)176 cm
WEIGHT (approx.)70 kg
PROFESSIONChairman & CEO of ArcelorMittal
NET WORTH$17.4 billion
MARITAL STATUSMarried
HUSBAND/WIFEWife – Usha Mittal
GRADUATIONSt. Xavier’s College, Kolkata
HOMETOWNSadulpur, Rajasthan
HOBBYGoing to Grand Pix Events, Watching and Playing Football and Cricket
Brief Information on Lakshmi Mittal

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Table of Content:

  • Lakshmi Mittal Biography
  • Lakshmi Mittal Family
  • Lakshmi Marriage
  • Lakshmi Mittal Education
  • Lakshmi Career
  • Lakshmi Controversies
  • Lakshmi Property
  • Lakshmi Social Work
  • Lakshmi Achievements
  • Summary

Lakshmi Mittal Biography

Lakshmi Mittal date of birth is 15 June 1950. He was born in the Rajasthani town of Sadulpur. Now, he lives in the United Kingdom. Lakshmi serves as the Executive Chairman of ArcelorMittal, the world’s second-largest steelmaker. Lakshmi Mittal age is 73 years old now and his astrological sign is Gemini. His hobbies are going to Grand Pix Events, and watching and playing Football and Cricket.

Lakshmi Mittal net worth in rupees is ₹1740 crore. In 2005, Forbes declared him the third richest person in the world, making him the first Indian resident to appear in the top ten on the publication’s annual list of the world’s wealthiest individuals.

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Lakshmi Mittal Family

Lakshmi was in the Rajasthani Marwari family. His family relocated to Kolkata in the 1960s, when his father ran a steel plant, Nippon Denro Ispat. Lakshmi Mittal father’s name is Mohanlal Mittal and his mother is Geeta Mittal. Pramod Mittal and Vinod Mittal are his brother’s names and has a sister named Seema Lohia. Seema is married to an Indonesian businessman, Sri Prakash Lohia.

Lakshmi Marriage

Lakshmi Mittal wife’s name is Usha Mittal. She is an active philanthropist. Lakshmi Mittal son’s name is Aditya Mittal and Lakshmi Mittal daughter’s name is Vanisha Mittal. Aditya is the present CEO of ArcelorMittal and Vanisha is the director of ArcelorMittal. Vanisha is married to billionaire and philanthropist Amit Bhatia.

Lakshmi Mittal Education

From 1957 to 1964, Lakshmi attended Shri Daulatram Nopany Vidyalaya in Calcutta. He graduated from St. Xavier’s College. The college is affiliated with the University of Calcutta, with a B.Com degree. He worked at the mill while attending St. Xavier’s College and studying science. After graduating in 1970, he worked as a trainee at the mill before establishing his own steel factory in Indonesia in 1976.

Lakshmi Mittal Career

Early Career

Due to the Indian government’s suspension of steel production in 1976, Lakshmi, then 26, built his first steel factory, PT Ispat Indo, in Sidoarjo, East Java, Indonesia. He purchased the state-owned steel plants in Trinidad and Tobago in 1989, which were operating at a huge deficit. In a year, he converted them into profitable businesses.

Lakhsmi bought the Irish Steel mill in Cork, Ireland, from the government in 1995 for a nominal fee of IR£1.

Expansion of the company

During the privatisation of PHS Steel Group, Poland’s largest at the time, Lakhsmi effectively leveraged Marek Dochnal’s consultancy to persuade Polish policymakers. Dochnal was later detained in a separate case for bribing Polish authorities on behalf of Russian spies. The Polish government stated in March 2007 that it wished to renegotiate the 2004 sale to ArcelorMittal.

Lakhsmi employees have accused him of tolerating “slave labour” conditions in his mines following repeated fatalities. For example, in December 2004, twenty-three miners were killed in explosions triggered by malfunctioning gas detectors in their mines in Kazakhstan.

Lakhsmi’s hostile takeover bid for Arcelor, which he renamed Arcelor Mittal, was successful. He gained control of the Usinor steel holdings in France, the Arbed steel assets in Luxembourg, and the Aceralia steel assets in Spain as a result.

Lakshmi Mittal Controversies

Tony Blair wrote to the Romanian government in favour of Mittal’s steel firm, LNM Group, which was competing to buy Romania’s state-owned sector in 2002, and Plaid Cymru MP Adam Price got a letter from Blair. This discovery sparked outrage because Mittal had previously donated £125,000 to the British Labour Party.

Blair’s letter implied that the firm’s privatisation and sale to Lakshmi could assist Romania gain entrance into the European Union. It also featured a passage praising Lakshmi as “a friend,” which was removed immediately before Blair signed it.

In October 2003, the LNM Group completed the transaction that released the Romanian government from the control of steel assets.

Lakshmi Property

The Lakshmi mansion at 18-19 Kensington Palace Gardens, purchased for £67 million from Formula One CEO Bernie Ecclestone in 2004, was the most expensive house in the world at the time. The marble used to embellish the residence came from the same quarry that supplied the Taj Mahal.

Lakshmi acquired the Philippines Embassy, now No. 9A Palace Greens, Kensington Gardens, in 2008 for Vanisha Mittal, his daughter.

In 2005, he also purchased a colonial villa for $30 million on No. 22, Dr APJ Abdul Kalam Road in New Delhi, one of India’s most prestigious streets inhabited by embassies and billionaires, and renovated it into a house.

Lakshmi Social Work

Sports

Lakshmi chose to launch the Mittal Champions Trust with a $9 million donation during the 2004 Summer Olympics to aid ten Indian athletes with world-class potential. He rewarded Abhinav Bindra Rs. 1.5 Crore in 2008 for winning India’s first individual Olympic gold medal in shooting. ArcelorMittal also supplied steel for the ArcelorMittal Orbit, which was built for the 2012 Summer Olympics.

Education

The Lakshmi Niwas Mittal Foundation, the Usha Mittal Foundation, and the Government of Rajasthan collaborated in 2003 to establish the LNM Institute of Information Technology (LNMIIT) in Jaipur as an autonomous non-profit organisation.

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Medical

In 2008, the Mittals gave £15 million to Great Ormond Street Hospital in London, the hospital’s largest private contribution. During the COVID-19 pandemic in India in 2020, he donated 100 crores to the PM Cares fund.

Lakshmi Achievements

Lakshmi was selected ‘Steelmaker of the Year’ in 1996 by New Steel in the United States, and he got the World Steel Dynamics ‘Willy Korf Steel Vision Award’ in 1998 for remarkable vision, entrepreneurship, leadership, and achievement in global steel development.

In January 2008, the President of India gave Lakshmi the Padma Vibhushan, India’s second-highest civilian honour. In April 2018, the American Iron and Steel Institute awarded him the Gary Medal for his achievements in the steel industry.

I proved my college principal wrong: Lakshmi Mittal

Summary:

Lakshmi was born on 15 June 1950. He is 73 years old now. He graduated from St. Xavier’s College with a B.Com degree. Lakshmi was previously the CEO of ArcelorMittal, the world’s second-largest steelmaker, as well as the Chairman of Aperam, a stainless steel manufacturer.

Frequently Asked Questions (FAQs):

Q1. What is Lakshmi Mittal qualification?

Ans: Lakshmi Mittal qualification is a B.Com graduate from Bhawanipur Education Society College.

Q2. Where was Lakshmi born?

Ans: Lakshmi was born in  Sadulpur in the state of Rajasthan.

Q3. Is Lakshmi married?

Ans: Yes, Lakshmi is married to Usha Mittal and they are known to have two children together.

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