Lakshmi Niwas Mittal is an Indian-born British businessman and the founder and chairman of world’s second largest steelmaking company, ArcelorMittal. He is known as King of Steel. He has achieved great success in the steel business. Since 2008, he is also considered a popular member of the ‘Board of Directors’ of Goldman Sachs. He has citizenship of India as well as of Britain. Lakshmi Mittal is widely regarded as one of the most prominent and influential figures in the global steel industry.
Lakshmi Niwas Mittal Bio data
| Name | Lakshmi Niwas Mittal |
| Age: | 73 years old (In 2023) |
| Birth Date | 15th June 1950 |
| School | Daulatram Nopani Vidyalaya |
| College | St. Xavier’s College |
| Profession | Businessman (chairman and founder of Arcelormittal) |
| Net worth | US$17.8 billion (2022, according to Forbes) |
| Wife | Usha Kalra |
| Children | Vanisha Mittal and Aditya Mittal |
| Awards | Padma Vibhushan (2008) |
Personal life
Lakshmi Niwas Mittal took birth on 15 June 1950 in a place called Sadulpur in the state of Rajasthan. His father was a businessman by profession who used to run a steel factory. Taking forward his father’s business, he opened several steel plants of his own.
Family
Lakshmi Mittal’s father’s name is Mohanlal Mittal, who was a well-known Indian steel businessman. He used to run Nippon Denro Steel, which was later banned from steel production in 1976. Lakshmi Mittal has 2 brothers and a sister. Lakshmi Mittal was married to Usha Kalra after which they have a son Aditya and a daughter Vanisha Mittal.
Education
Lakshmi Mittal completed her early education from Daulatram Nopani Vidyalaya, after which she completed her B.Com from St. Xavier’s College, securing first division. After completing his education, he started his career by taking forward his father’s work.
Career
When the factory with Lakshmi Mittal’s father was curtailed by the government, Lakshmi Mittal started her career by opening the first steel factory which was located in Indonesia, PT Ispat Indo Sidoarjo. In Tobago and Trinidad, the state’s heavy loss-making steel works were bought, which started turning into profitable steel works of the state within 1 year. Mittal started his career working in his family’s steel business in India. In the 1980s, he moved to Indonesia and began acquiring struggling steel mills, turning them around and making significant profits. In 2006, he orchestrated the merger of Mittal Steel, his own company, with Arcelor, creating ArcelorMittal. The merged company became the world’s largest steel producer, with operations in more than 60 countries.
Mittal bought from government the Irish steel plant in Cork Ireland in 1995 for the simple price of IR£1. The plant was closed six months after purchasing it because the government asked it to contribute towards the cost of cleaning Cork Harbour, which Mittal did not agree to. In this way, he expanded his steel factory in the country and abroad and bought new plants and upgraded them. For some time, he was considered one of the 10 richest people in the world. This is the first such Indian who was seen in this top list.
Business
As the founder and chairman of ArcelorMittal, Lakshmi Mittal has been instrumental in expanding the company’s reach and influence in the global steel market. Under his leadership, ArcelorMittal has been involved in major steel projects around the world, including the construction of skyscrapers, bridges, and infrastructure.
Lakshmi Mittal’s contributions to the steel industry and his success as a business leader have earned him numerous accolades and honors. Some of the notable honors he has received include the Padma Vibhushan, India’s second-highest civilian award, and the Carnegie Medal of Philanthropy for his charitable work. Lakshmi Mittal is known worldwide by the name of steel plant business. He is also called the King of Steels. Lakshmi Mittal was ranked as the world’s second largest steel plant business. He opened his first factory in Indonesia and upgraded it by buying several loss-making steel plants. He is also known as King Magnet.
Awards and Honors
Lakshmi Niwas Mittal is a name earner in the world, has been honored with many awards. In 1996, he was awarded the title of Steel Maker of the Year. In 2007, he was awarded the King’s College London Fellowship and the Bessemer Gold Medal by IOM3. He was awarded the Padma Vibhushan by India in 2008. In 2004, he was recognized as European Businessman of the Year (by Forbes).
Networth
The Sunday Times Rich List 2016 shows that Mittal has a net worth of £7.12 billion. According to Forbes magazine in 2016, Mittal networth was US$8.4 billion. According to the Sunday Times in 2008, his net worth was £27.70 billion. With this, he included his name in the fourth richest person in the world. Lakshmi Mittal was ranked the 15th richest businessman in India in 2022 with a net worth of US$17.8 billion.
Social Work
Lakshmi Mittal earned so much with his hard work and dedication that he started being counted among the rich people of the country, he also spent a good part of his earnings in social work. He contributed to education, sports and many other places. India received bronze medal in 2000 Summer Olympics and silver medal in 2004 Summer Olympics. After this Lakshmi Mittal handed over Mittal Champions to the trust. As a result, India could back 10 strongest players.
Lakshmi Mittal made a big contribution in the field of education. He established the LNMIIT (LNM Institute of Information Technology) University in 2023 on behalf of the ULMF (Usha Mittal Foundation). After this, Usha Lakshmi Mittal Institute of Management was established in 2009. Mittal donated the SNDT Women’s University on behalf of the Mittal Foundation, after which the Institute of Technology for Women (ITW) was named Usha Mittal. Apart from sports and education, Mittal also made a big contribution in the field of medicine, donated to many hospitals and donated up to 100 crores during the epidemic of Covid-19.
