Lakshmi Mittal

Lakshmi N. Mittal is executive director of ArcelorMittal, the world's biggest steel and mining manufacturer. He recently filled in as chief executive officer of ArcelorMittal. One of the world's conspicuous billionaires, Mittal is known as a global businessman who serves on the boards of different advisory councils, and as a humanitarian took part in the fields of children's wellbeing and education. Lakshmi Mittal is a citizen of India and lives in the United Kingdom.

Early Life and Education

Lakshmi Mittal was brought into the world in Sadulpur, India in 1950. He graduated from St. Xavier's College in Kolkata, India in 1970 where he received a lone ranger of commerce degree. Having completed his education, Mittal started his career in his family's steelmaking business in India before laying out his own steel company in 1976.

ArcelorMittal

In 1976, Lakshmi Mittal established a small company in Indonesia that would ultimately become ArcelorMittal with operations in 17 countries. Zeroing in on global consolidation, Mittal acquired and integrated steel companies globally. In 2004, the Mittal Steel Company was formed subsequent to blending its companies, Ispat International and LNM Holdings, and gaining the U.S. Ohio-based International Steel Group, leading Mittal Steel to control 40% of the market for level moved steel in America. In 2006, Mittal Steel merged with Arcelor to form ArcelorMittal, as of now the world's biggest steel manufacturer.

ArcelorMittal keeps up with operations that produce an extensive variety of steel for the mobility, construction, infrastructure, industrial, and energy sectors. At research centers positioned around the world, new steel products, processes, and arrangements are imagined, tried, improved, and conveyed. ArcelorMittal is heightening its commitment to decarbonize, perceiving that steel can make a critical contribution toward net-zero emissions. In 2021 the company posted a net income of almost $15 billion and it expects its steel shipments in 2022 to develop by 3%.

Notable Accomplishments

Lakshmi Mittal has earned international respect as a leader in the steel industry. In 1996 he was granted "Steelmaker of the Year" by New Steel in the United States and named Fortune magazine's "European Businessman of the Year" in 2004, and "Person of the Year" by the Financial Times in 2006. In October 2010, Mittal received the World Steel Association's decoration in recognition of his contribution to the sustainable development of the global steel industry. In January 2013, Lakshmi Mittal was granted a Doctor Honoris Causa by the AGH University of Science and Technology in Krakow, Poland.

Wealth and Philanthropy

Lakshmi Mittal is an active donor and has made huge gifts to Harvard University, where Mittal is a member of the Global Advisory Council, and UNICEF to address child unhealthiness in India explicitly. The Mittal family has likewise contributed to the Great Ormond Street Hospital in the United Kingdom, supporting the Mittal Children's Medical Center which formally opened in January 2018.

Serving on advisory councils around the world, Lakshmi Mittal is a member of the Foreign Investment Council in Kazakhstan, the National Investment Council of Ukraine, the Global CEO Council of the Chinese People's Association for Friendship with Foreign Countries, the World Economic Forum's International Business Council, the World Steel Association's Executive Committee, the European Round Table of Industrialists, the Indian School of Business and is a member of the Board of Trustees of Cleveland Clinic.

The Bottom Line

Lakshmi Mittal established a small steel company in Indonesia which developed to become ArcelorMittal, the biggest steel manufacturing company in the world. Mittal is seen as a leader in the steel industry and is an active member of business and advisory councils around the world.

Features

• Lakshmi Mittal sits on the board of Goldman Sachs.
• Lakshmi Mittal is an Indian citizen and billionaire.
• Mittal is recognized for restructuring the steel industry into a consolidated and globalized model.
• He was granted a Doctor Honoris Causa by the AGH University of Science and Technology in Krakow, Poland.

FAQ

Where Did Lakshmi Mittal Begin His Career?

In the wake of finishing his education, Mittal worked for his family's steel making business in India before laying out his most memorable small steel company in Indonesia.

What Is Lakshmi Mittal's Net Worth?

Starting around 2021, Lakshmi Mittal was the sixth wealthiest person in India. His net worth in 2022 is estimated at $18.5 billion.

In How Many Countries Does ArcelorMittal Manufacture Steel?

ArcelorMittal has steelmaking facilities in 17 countries, an industrial presence in 59 countries, and operations crossing Africa, the CIS, Europe, North and South America.

Where Did Lakshmi Mittal Attend School?

Lakshmi Mittal went to St. Xavier's College in Kolkata, India and received a lone wolf of commerce degree.