Lakshmi Mittal is an Indian businessman who is the chairman and CEO of ArcelorMittal, the world’s largest steel-producing company. He is one of the wealthiest people in the world, with an estimated net worth of $14.2 billion. In this article, we’ll explore where his wealth comes from and how he accumulated it.
Lakshmi Mittal’s Wealth
Lakshmi Mittal is one of the wealthiest people in the world, with an estimated net worth of $14.2 billion. He is the chairman and CEO of ArcelorMittal, the world’s largest steel-producing company. He is also the chairman of the Mittal Family Investment Office, which manages investments in steel, energy, real estate, and other businesses.
Mittal has also been involved in philanthropy, having donated to various charities including the Lakshmi Mittal and Usha Mittal Foundation, which supports education in India. He has also founded the Mittal Champions Trust, which provides financial assistance to promising athletes in India.
Sources of Mittal’s Net Worth
Mittal’s wealth comes primarily from his steel business. He owns a majority stake in ArcelorMittal, the world’s largest steel-producing company. His steel business has been profitable and has allowed him to amass a large fortune.
He has also made investments in other businesses, including energy, real estate, and technology companies. His investments have also been successful and have helped to increase his net worth.
Mittal has also been involved in philanthropy and has donated to various charities. His donations have helped to support various causes and have also helped to increase his net worth.
Lakshmi Mittal is one of the wealthiest people in the world, with an estimated net worth of $14.2 billion. His wealth comes from his steel business, investments in other businesses, and philanthropic donations. Through hard work and savvy investments, Mittal has been able to accumulate a large fortune and become one of the wealthiest people in the world.
Lakshmi Mittal is an Indian businessman who is the Chairman and Chief Executive Officer of ArcelorMittal. In 2020, he is the world’s 12th wealthiest person with a net worth of US$19.3 billion, according to the Bloomberg Billionaires Index.
Born in Rajasthan, India in 1950, Lakshmi Mittal is the son of a businessman named Mohan Lal Mittal. He started working at Pinky Steels as a summer worker and was inspired by his father to eventually become the Chairman of his family business. From there, Lakshmi Mittal began to gain success in steel and iron industry and set his eyes on the international market.
In 1994, Mittal established Ispat International and began expanding his steel business into numerous markets. He then merged his European steel companies and created the world’s fourth largest steelmaker, ArcelorMittal in 2006. ArcelorMittal has production sites in more than eighteen countries, with a presence in Europe, North America, South America, Africa, and Asia.
Lakshmi Mittal has been highly acclaimed in the steel industry with prestigious awards such as Steel maker of the Year in 1996, and CEO of the Year by The European CEO Magazine in 2007. He has also been awarded the Padma Vibhushan, India’s second-highest civilian honour by the President of India.
Today, Lakshmi Mittal is worth an estimated $19.3 billion. The majority of his wealth comes from his stake of more than a 40 percent share in ArcelorMittal, the world’s fourth-largest steel company. He is also an avid art collector, owning several prominent pieces, such as an iconic painting by Francis Bacon.
No doubt, Lakshmi Mittal has built a tremendous business empire and achieved great success over the past few decades. With a net worth of US$19.3 billion, he continues to be a leading influence in the steel and iron industry.