Lakshmi  Niwas Mittal was born June 15, 1950 and he is an Indian steel tycoon ,  based in the United Kingdom . He is the CEO of ArcelorMittal , the world’s largest steel company, as well as the chairman of Aperam, a stainless steel manufacturer. 

He is one of the richest business men in United Kingdom.

Lakshmi Mittal Biography

He was born into a family from Marwadi. He was studying at Shri Daulatram Nopany Vidyalaya, Calcutta from 1957 to 1964. 

He was graduating from St. Xavier’s University, affiliated with the University of Calcutta, with a B.Com degree in the first class.

In 2003, Lakshmi Niwas Mittal, the Usha Mittal Foundation and the Government of Rajasthan partnered to establish a university, the LNM Institute of Information Technology (LNMIIT) in Jaipur as an autonomous non-profit organization. 

In 2009, the Foundation together with Bharatiya Vidya Bhavan founded the Usha Lakshmi Mittal Institute of Management in New Delhi. 

SNDT Women’s University renamed the Institute of Technology for Women (ITW) to the Usha Mittal Institute of Technology after a large donation from the Lakshmi Niwas Mittal Foundation. 

He was completing his primary and secondary school from Nopany High formerly known as Shri Daulatram Nopany Vidyalaya.lakshmi-mittal-biography.jpg

Lakshmi Mittal Career

Lakshmi’s father, Mohanlal Mittal, ran a steel company, Nippon Denro Ispat.  In 1976, due to the Indian government curbing steel production, the 26-year-old Mittal opened his first PT Ispat Indo steel mill in Sidoarjo, East Java, Indonesia. 

In 1989 he was buying the state-owned steelworks in Trinidad and Tobago, which were operating at huge losses. He was turning them into profitable companies within a year. 

Until the 1990s, the family’s main assets in India were a sheet steel cold rolling mill in Nagpur and an alloy steels plant near Pune. Today, the family business, including a large integrated steel plant near Mumbai, is run by her younger brothers Pramod Mittal and Vinod Mittal, but Lakshmi has no relationship with her. 

In 1995 he was buying the Irish Steel plant based in Cork, Ireland, from the government for a nominal price of IR£1. 

Just six years later, in 2001, it was closed, leaving over 400 people redundant. Subsequent environmental problems at the site have drawn criticism. The Irish government sought a High Court ruling that his company should contribute to the cost of cleaning up Cork Harbour, but was unsuccessful. The cleanup was expected to cost €70 million. 

Prior to December 2001, he had acquired assets that it renamed Ispat Mexicana and its Kazahkstani Ispat Karmet operation . That month Sidex Galati changed its name to Ispat Sidex ,  which it had acquired in November 2001. 

In October 2003, the LNM Group succeeded in concluding the $155 million transaction to free the Romanian government from control of the steel assets Siderurgica Hunedoara and Petrotub Roman , the day after it assumed control of the PHS Steel Group, which includes Huta Sendzimira , Huta Katowice , Huta Florian , and Huta Cedler from the Polish government. 

Petrotub Roman was having a new name Ispat Tepro in the sequel.

He successfully was using the consultancy of Marek Dochnal to influence Polish officials in the 2003 privatization of the PHS steel group, then the largest in Poland. Dochnal was later arrested for bribing Polish officials on behalf of Russian agents in a separate matter. 

In March 2007, the Polish government was saying that it wanted to renegotiate the 2004 sale to ArcelorMittal. 

His employees have accused it of allowing “slave labor” conditions after multiple deaths at its mines. For example, during December 2004, twenty-three miners were killed in explosions at their mines in Kazakhstan caused by faulty gas detectors. 

In 2006–07, he was securing a hostile takeover bid for Arcelor , which he was renaming Arcelor Mittal . 

In doing so, it gained control of, among others, the steel assets of Usinor in France, the steel assets of Arbed in Luxembourg and the steel assets of Aceralia in Spain.

Lakshmi Mittal Social Work
Lakshmi Mittal Sports

After witnessing India win just one medal, bronze, at the 2000 Summer Olympics, and a silver medal, at the 2004 Summer Olympics, Mittal decided to establish the Mittal Champions Trust with $9 million to support ten Indian athletes with world potential.

In 2008, he awarded Abhinav Bindra Rs. 1.5 crore (Rs 15 million), for giving India its first individual Olympic gold medal in shooting. ArcelorMittal also provided steel for the construction of the ArcelorMittal Orbit for the 2012 Summer Olympics. 

For Comic Relief, he matched the money raised (~£1 million) on the BBC’s celebrity special The Apprentice . 

Mittal had become one of the main competitors to buy and sell Barclays Premiership clubs Wigan and Everton. However, on December 20, 2007, it was announced that the Mittal family had purchased a 20 per cent stake in Queens Park Rangers football club joining Flavio Briatore and Mittal’s friend Bernie Ecclestone. 

As part of the investment, Mittal’s son-in-law, Amit Bhatia, took a place on the board of directors. The combined investment in the struggling club prompted suggestions that he may be looking to join the growing ranks of wealthy individuals who invest heavily in English football and emulate similar benefactors such as Roman Abramovich.

On 19 February 2010, Briatore resigned as chairman of QPR and sold further shares in the club to Ecclestone, making Ecclestone the largest single shareholder. 

Lakshmi Mittal Controversies
The Mittal affair: “Money for influence”

In 2002, Plaid Cymru MP Adam Price obtained a letter written by Tony Blair to the Romanian government in support of Mittal’s LNM Group steel company, which was in the bidding process to buy the Romanian state industry.

This revelation caused controversy, because Mittal had given £125,000 to the British Labor Party the previous year. Although Blair defended his letter as simply “celebrating the success” of a British company, he was criticized because LNM was registered in the Netherlands Antilles and employed less than 1% of its workforce in the UK.  LNM was a “major global competitor to the struggling British steel industry itself”. 

Blair’s letter hinted that the company’s privatization and sale to Mittal could help pave the way for Romania’s entry into the European Union.

He too had a passage, deleted just before Blair signed it, describing Mittal as “a friend”. 

In October 2003, the LNM Group managed to conclude the transaction to free the Romanian government from control of the steel assets.

Lakshmi Mittal As A Doctor

In 2008, the Mittals made a £15 million donation to Great Ormond Street Hospital in London, the largest private contribution the hospital had ever received. The donation was used to help fund their new facility, the Mittal Children’s Medical Center. 

Lakshmi Mittal And The COVID-19 Pandemic

He made a donation of Rs 100 crore to the PM care fund during the COVID-19 pandemic in India in 2020.

Lakshmi Mittal Net Worth

According to the Sunday Times Rich List 2016 , him and his family had an estimated personal net worth of £ 7.12 billion , a decrease of $2.08 billion from the previous year. 

Meanwhile, in 2016, Forbes magazine ‘s annual list of billionaires assessed Mittal’s 2016 estimated wealth as the 135th richest billionaire with a net worth of US$ 8.4 billion. 

Mittal’s net worth peaked in 2008, assessed by The Sunday Times at £27.70 billion, and by Forbes at US$ 45.0 billion, and rated as the fourth richest individual in the world.

His residence at 18-19 Kensington Palace Gardens, which was purchased from Formula One boss Bernie Ecclestone in 2004 for £67 million (US$128 million), made it the most expensive house in the world at that moment.

The house is decorated with marble extracted from the same quarry that supplied the Taj Mahal.  The extravagant display of wealth has been dubbed the “Taj Mittal”. It has 12 rooms, an indoor pool, Turkish baths, and parking for 20 cars.

Mittal purchased No. 9A Palace Greens, Kensington Gardens, formerly the Philippine Embassy, ​​for £70 million in 2008 for his daughter Vanisha Mittal, who is married to Amit Bhatia, a businessman and philanthropist. He was hosting a lavish “vegetarian reception” for Vanisha at the Palace of Versailles, France. 

In 2005, he also bought a $30 million colonial bungalow at 22 Dr APJ Abdul Kalam Road, New Delhi, one of India’s most exclusive streets, occupied by embassies and billionaires, and rebuilt it as a home. 

In December 2013, Mittal’s niece Shrishti Mittal married investment banker Gulraj Behl in a three-day celebration said to have brought Barcelona to a standstill and cost up to £50m. 

Some 200 butlers, cooks and secretaries were reportedly flown to Spain from India and Thailand, while the 500 guests were required to sign confidentiality agreements

Lakshmi Mittal Personal Life

Mittal was born on June 15, 1950 into the Rajasthani Marwari family in Sadulpur, Rajasthan. He is married to Usha Mittal. They have a son Aditya Mittal and a daughter Vanisha Mittal.

He is having two brothers, Pramod Mittal and Vinod Mittal, and a sister, Seema Lohia, who is married to an Indonesian businessman Sri Prakash Lohia.

He is a lacto-vegetarian. 

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