Laxmi Mittal – Net Worth, Money and More

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NET WORTH: $20.6 BILLION

PROFESSION: CEO OF ARCELOR MITTAL

THE IRON MAN OF CALCUTTA

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Laxmi Mittal is among those people who were not born with a silver spoon in their mouth, but through their capabilities they have achieved the richness everyone dreams about. He is the most renowned tycoon in the steel production business. He was born on 15th June in the year 1950 in Churu District, Rajasthan. He has a bachelor’s degree in Commerce from St. Xavier’s College, Calcutta. He married to his love, Usha Mittal and their marriage was a love cum arranged marriage.

RAGS TO RICHEST

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Laxmi Mittal is the true leading character in the rag to riches story. He is one of those men who started from scraps and now he is among the world’s richest man and stands with the sixth number of the top richest people in the world. He is that one man who has spent his early days of life sleeping on rugs and from there he is now the proud owner of one of the biggest steel production company i.e. Arcelor Mittal. He has changed a small steel industry, which he inherited from his father into number one steel production company and is ranked as the richest man in Britian. In the year 1976, due to the restrain put by the Indian Government on the production of steel he opened his own first steel production company in East Java, Indonesia and named it as PT Ispat Indo. He proved his worth to his father through this company and also by buying companies with no money or poor companies. After some time he bought producers of a network of steel who belonged to Kazakhstan, Romania and Ukraine. In the year 2004 Mittal got merged up with the American Group, ISG which made him the first steel producer throughout the globe.

HIS RICHNESS

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From a common man he has turned into the CEO and the chairman of the well known ‘Archelor Mittal’ which is the largest steel making company in the world. He owns a personal fortune of worth 20.6 billion US dollars. In the year 2007 he was titled as the richest man alive of Asian descent in the U.K. today, his company is capable of manufacturing 42.1 million tons of pure steel. Almost every car uses steel which was produced by his company. He makes money through his steel business.

 

HIS LUXURY

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He is the proud owner of many real estate properties and has many houses in his name. He owns many massive mansions and a penthouse in London. Mr. Lakshmi Mittal owns a number of luxurious houses in UK, but he also has a generous colonial bungalow in New Delhi (India). This grand bungalow is located on Aurangzeb Road. The area is considered as one of the post areas of New Delhi as it is surrounded with many foreign embassies and the place is just a few kilometers away from the well known Birla’s house. Mittal also owns a lavish apartment in London, which covers an area of 5,500 square feet. This massive house is situated on the Old Park Lane. He purchased this house for $9,601,485 in the year 2002. In 2008, he bought No. 9 Palace Greens home in the UK, which is situated in Kensington Gardens. This palace is near to Taj Mittal. He gifted his son the No. 6 Palace Greens mansion built with red bricks in old style architecture. This mansion covers an area of 13,000 sq ft with its five bedroom suites. Mittal has an expensive house in Scotland also. The whole project of this house costs Mittal $12 million. The most famous one is the Taj Mittal, which was purchased by him for $128 million. His huge architecture was made from the same white rock which was used to make the world famous Taj Mahal, hence the name. This royal mansion has a Turkish bath, a swimming pool, 12 bedrooms, parking space for 20 cars and a picture gallery also. The steel king owns a $150 million yacht which happens to be the most expensive chartered yacht. He also owns a Gulfstream G550 Aircraft which has a net worth of $38 million. He also owns a super luxurious vanity van which is a home away from home for him. He also married his daughter in a lavish wedding ceremony, in which he spent $78 million.

CHARITY AND CAUSES HE WORKS FOR

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Laxmi Mittal not only just believes in filling his bank accounts, but he also believes in giving to good causes and for the betterment of his country. He has given $9 million for the Mittal Champions Trust to support potential Indian athletes. He has also donated in education institutions, like Institute of Technology for Women which is now named as the Usha Mittal Institute of Technology. The causes he worked for are: Comic Relief, CSR Program. He also runs The Mittal Children’s Medical Centre.

AWARDS AND ACHIEVEMENTS

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Being an ace producer of steel he has bagged many awards and recognizations for himself. The list of his awards and achievements are:

  • In the year 1996 h was awarded as the “Steel Maker of the Year” by New Steel.
  • In the year 2004 he got three awards: “8th Honorary Willy Korf Steel Vision Award”, “Entrepreneur of the Year Award” and: European Businessman of the Year”.
  •  He got “Fellowship Award” from King’s college London, “Dwight D. Eisenhower Global Leadership Award” and “Grand Cross of Civil Merit” in the year 2007.
  • In the year 2008, he got Padma Vibhushan Award and Forbes Forbes Lifetime Achievement Award in the year 2008.
  • In the year 2010, he got the “Dostyk 1 Award” by the Republic of Kazakhstan.

 

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