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Interesting facts about Lakshmi Mittal that will inspire you

Interesting facts about Lakshmi Mittal that will inspire you
LifeThelife2 min read
  • Lakshmi Mittal, a wealthy Indian business tycoon, is the CEO of ArcelorMittal, the largest steelmaking company in the world.
  • Headquartered in Luxembourg, the merger of two firms - Arcelor and Mittal Steel led to the formation of ArcelorMittal in 2006. It was one of the largest mergers in the world.
  • Mittal has achieved renowned fame in the world for turning sick steel companies into profitable ventures, a feat that has amazed his peers and the industry.

Lakshmi Mittal’s education and career

Mittal studied at St.Xavier’s College in Kolkata while working at the steel mill owned by his father. In 1970, he joined the mill as a trainee, and in 1976 opened a steel mill in Indonesia. In 1989, Mittal purchased the state-owned steelworks in Tobago and Trinidad, which were making an enormous loss. He turned them into profitable ventures in just a year. Since then, he has been buying several sick companies in the steel arena and turned them into top-performing enterprises.

One of the wealthiest citizens in London

Mittal is amongst the wealthy and most influential citizens in London. He is known for his lavish lifestyle and the extravagant wedding he organised for his daughter, Vanisha Mittal in 2004. One of the wedding functions was held at the Palace of Versailles. It is said that he was the first person to hold a private event in this palace.

Steel magnate's luxurious home

From his humble beginnings to being named as the world's richest person in 2005, it has been an inspiring journey. Mittal’s 12-bedroom mansion is located at 18-19 Kensington Palace Gardens. This is known to be one of the most expensive houses in the world. His house is decorated with the same marble that was used in the construction of the Taj Mahal. In fact, this marble was excavated from the same mine from where Shah Jahan brought it out.

Recipient of numerous awards

Lakshmi Mittal is a recipient of several prestigious awards. He secured the Forbes Lifetime Achievement Award in 2008 and was honored with the European Businessman of the Year award in 2004.

A member of important boards

Since 2008, Mittal has been on the board of directors at Goldman Sachs. He is also a member of the board of Directors of the European Aeronautic Defense and Space Company. He is an important part of the World Steel Association's executive committee and a well-known member in different councils including the Indian Prime Minister's Global Advisory Council, the Presidential International Advisory Board of Mozambique, the Foreign Investment Council in Kazakhstan, and the World Economic Forum's International Business Council.

An accomplished philanthropist

He created the Mittal Champions Trust to encourage and sponsor 10 Indian athletes who demonstrated great potential, to lift the pride of India in the world forum. In 2008, Mittal bestowed Abhinav Bindra with Rs. 1.5 crore when he secured India its first Olympic gold medal for individuals in shooting. For the 2012 Summer Olympics, ArcelorMittal financed the construction of ArcelorMittal Orbit. Mittal also joined hands with the government of Rajasthan in 2003 and instituted the LNM Institute of Information Technology (LNMIIT) in Jaipur, which is an autonomous non-profit organization. In 2008, Mittal gifted around 15 million pounds (Rs 1,129,621,164) to Great Ormond Street Hospital in London. Deemed as the largest private donation that the hospital has received, the amount was used to fund the Mittal Children's Medical Centre.