Article page |
Health page |
Lakshmi Mittal – is an Indian born British steel billionaire and one of the richest men in the world .As of March 2010, he is the fifth richest person in the world. He is also the richest person in Europe with a personal wealth of US$28.7 billion
He was born on June 15, 1950 at Sadulpur, in Chiru district of Rajasthan, India in a poor family. The large family of 20 lived on bare concrete floors, slept on rope beds and cooked on an open fire in the brickyard in a house built by his grandfather.
The family later on moved to Kolkata where his father Mohan Mittal became a partner in a steel company. Lakshmi Mittal graduated from St. Xaviers in Kolkata with a commerce degree in 1969. He began his career working in the family's steelmaking business in India. In 1976, he traveled to Indonesia to look into a real-estate investment for his father, but returned with the purchase of a rundown steel mill there. The same year Lakshmi Mittal founded Mittal Steel Company He split from his father and two younger brothers in 1994 and took the international arm, with interests in Indonesia .He moved to London in 1995.
In the last few
years Mittal Steel has made a number of acquisitions, buying up a network of
steel producers in former communist countries including Kazakhstan, Romania and
Ukraine, and pushing into the U.S. in 2004 with the $4.5 billion purchase of
International Steel Group.
Mittal Steel merged
with Arcelor to become Arcelor-Mittal, in 2006.
Arcelor-Mittal Steel is the largest steelmaker in the world, with shipments of
103.million tones of steel and had 124.90 billion revenues in 2008 and employing
more than 150,000 people
He married Usha, the daughter of a well-to-do money lender and had a son ( Aditya) and daughter ( Vanisha )
Mittal is the Chairman and CEO
of ArcelorMittal, while his son Aditya is the chief financial officer. Mittal's
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
The Financial Times named Mittal Person of the Year in 2006. In May 2007, he was named one of the "100 Most Influential People" by Time magazine.
Mittal is an active philanthropist. Mittal is a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum’s International Business Council and the International Iron and Steel Institute’s Executive Committee. He is a member in the Advisory Board of the Kellogg School of Management
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 US$9 million to support 10 Indian athletes with world-beating potential. In 2008 Mittal awarded Abhinav Bindra with Rs. 1.5 Crore, for getting India its first individual Olympic gold medal in shooting
Mittal’s quote “Everyone
experiences tough times, it is a measure of your determination and dedication
how you deal with them and how you can come through them”