Lakshmi Mittal

Lakshmi Mittal was born on 2nd September, 1950, in Sadulpur, Rajasthan. In Calcutta, Mittal studied business and accounting at the reputed St. Xavier's College. After classes, he used to work with his father in the family steel mill. He graduated as Bachelor of Commerce in accounting and business with first class distinction.

In the year 2003, Lakshmi Niwas Mittal and Usha Mittal Foundation partnered with the Rajasthan government to create a University called LNM University of Information Technology. The university has been established in Jaipur. Mittal also founded the Usha Lakshmi Mittal Institute of Management.

The Mittal group made many donations till now. In the year 2008, Mittal made a donation of 15 million pounds to great Ormond Street Hospital in London. Lakshmi Mittal purchased his residence in UK from Formula One boss Bernie Ecclestone. It was the world’s most expensive house at that time in the world.

His first step towards reaching the billionaire club, took place in the early seventies, when he started working in his father's steel firm. In 1976, he moved to Indonesia, on the realization of the fact that opportunities for higher growth were limited to him in India.There, with his father's backing, he found a steel plant, Ispat Indo and made this company a success. A shrewd businessman, his success has largely been built on buying up loss making state owned firms and turning their fortunes around. In 1989, he turned a government owned firm that was making a loss of $1 million a day, in Trinidad and Tobago, into a profitable business. It was a situation, where US consultants and German experts had failed to find any solution. With the similar strategy, he went ahead acquiring various firms all over the world, proving every risk worth its effort.

AWARDS

• 2008 Forbes Lifetime Achievement

• 2008 Padma Vibhushan Government of India

• 2007 Grand Cross of Civil Merit Government of Spain

• 2007 Dwight D. Eisenhower Global Leadership Business Council for International Understanding

• 2004 European businessman of the Year by Forbes