Lakshmi Mittal

Lakshmi Niwas Mittal (born 15 June 1950) is an Indian steel magnate and the chairman and CEO of ArcelorMittal, the world's largest steelmaking company. Based in London, Mittal built a global steel empire from a small family-owned business in India, making him one of the most powerful industrialists in the world. With a net worth exceeding $20 billion, he is consistently ranked among the world's richest people. Born into a Marwari business family in Sadulpur, Rajasthan, Mittal grew up in Calcutta (now Kolkata), where his father ran a small steel business. He joined the family business after graduating from St. Xavier's College, Calcutta, and soon began expanding it aggressively. In 1976, he moved to Indonesia and established a steel plant — a bold move that marked the beginning of his global expansion. The founding of Mittal Steel in 1989 marked the start of an aggressive acquisition spree. Mittal acquired struggling steel plants across the world at bargain prices, turning them around through efficiency improvements and modernization. His landmark acquisition was the 2006 merger of Mittal Steel with Arcelor, creating ArcelorMittal — the world's largest steel company with operations in over 60 countries. Under his leadership, ArcelorMittal produces approximately 70 million tonnes of steel annually and employs over 200,000 people worldwide. The company is a major supplier to the automotive, construction, and consumer goods industries. Mittal has been recognized as the "Steel King" and his business acumen in turning around ailing steel plants has been studied in business schools worldwide. Mittal is also known for his extravagant lifestyle. His London home, known as "Taj Mittal," is one of the most expensive private residences in the world, reportedly worth over $200 million. His daughter Priyadarshini married Amit Bhatia in 2004 in what was called the wedding of the century in India.