Lakshmi Niwas Mittal is a London-based Indian billionaire industrialist who is well known as ‘Steel King’ across world.
Personal Profile of Lakshmi Niwas Mittal
Lakshmi Mittal was born in Sadulpur village, in the Churu district of Rajasthan. He studied accounting and business at the prestigious St. Xavier’s College of Calcutta.
Career Growth of LN Mittal
He began his career working in the family’s steelmaking business in India, and in 1976, when the family founded its own steel business, Mittal set out to establish its international division, beginning with the buying of a run-down plant in Indonesia.
Since 2005, Mittal has been the richest person residing in the United Kingdom, the richest person in Asia and the fourth richest person on the planet.
He is the President of the Board of Directors and CEO of ArcelorMittal, the world’s largest producer of steel. In March 2008, Mittal was reported to be the 4th wealthiest person in the world by Forbes Magazine.
Fifth Richest Person in World
As of 2010, Mittal is the fifth richest person in the world. He is also the richest person in the Europe with personal wealth of US$28.7 billion or £19.04 billion in 2010.
He presently lives in Kensington, London. His residence at 18-19 Kensington Palace Gardens which was purchased from Formula One boss Bernie Ecclestone in 2004 for £57 million (US$128 million), making it the world’s most expensive house at the time.
Awards
Mittal was awarded Fortune magazine’s “European Businessman of the Year 2004†and also “Steelmaker of the Year†in 1996 by New Steel, and the “Willy Korf Steel Vision Award†in 1998, for outstanding vision, entrepreneurship, leadership and success in global steel development from American Metal Market and PaineWeber’s World Steel Dynamics.
