Lakshmi Mittal

Chairman & CEO of Arcelor Mittal,Owner of Karrick Limited Co-owner of Queens Park Rangers F.C.

Net worth: US$16.4 Billion (May 2017)

Lakshmi Niwas Mittal (born 15 June 1950) is an Indian steel magnate, based in the United Kingdom. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. Mittal owns 38% of ArcelorMittal and holds an 11% stake in Queens Park Rangers F.C..

In 2005, Forbes ranked Mittal as the third richest person in the world. In 2007, Mittal was considered to be the richest Asian person in Europe. He was ranked the sixth-richest person in the world by Forbes in 2011, but dropped to 82nd place in March 2015. In spite of the drop, Forbes estimated that he still had a personal wealth of US$16 billion in October 2013. Mukesh Ambani remains the richest Indian, overtaking him, although they have frequently traded places. In 2017, Forbes ranked him as the 56th richest person in the world with a net worth of US$16.4 billion. He is also the "57th-most powerful person" of the 72 individuals named in Forbes' "Most Powerful People" list for 2015. His daughter Vanisha Mittal's wedding was the second-most expensive in recorded history.

Sports

After witnessing India win only one medal, bronze, in the 2000 Summer Olympics, and one medal, silver, at the 2004 Summer Olympics, Mittal decided to set up Mittal Champions Trust with $9 million to support 10 Indian athletes with world-beating potential. In 2008, Mittal awarded Abhinav Bindra with Rs. 1.5 Crore (Rs. 15 million), for getting India its first individual Olympic gold medal in shooting. Arcelor Mittal 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 celebrity special BBC programme, The Apprentice.

ArcelorMittal- Company Profile

· It was in the year 2004, when Mittal steel was formed through the merger of Ispat International and LNM holdings.

· During the same period, Ispat International also merged with International Steel Group Inc.

· ISG was an Ohio based company, which became the world's largest steel producer, with a net worth over $22 billion.

· Mittal's steel empire stretches over 14 countries of the world.

· In 2006, after major negotiations and oppositions, Mittal Steels took over European Steel giant Arselor for $33 billion, becoming the world's largest 100 million tonne steel entity. This merged entity was called, Arcelor Mittal, with the family owning 43.6 share of the group.

· Apart from the mainstream steel business, they have diversified into shipping, coal, power, oil enterprises.

In 2006 The Sunday Times named him "Business Person of 2006", the Financial Times named him "Person of the Year", and Time magazine named him "International Newsmaker of the Year 2006". In 2007, Time magazine included him in their "100 most influential persons in the world".

Awards and honours

2008 Forbes Lifetime Achievement Award

2007 Fellowship King's College London

2004 European Businessman of the Year

2004 Entrepreneur of the Year

2004 8th honorary Willy Korf Steel Vision Award

1996 Steel Maker of the Year