Lakshmi Mittal, the executive chairman of ArcelorMittal, which generates $80 billion in revenue, leads the world’s most extensive steel and mining firm in terms of production. Mittal was born into a business family and his father, Mohan Mittal, ran a steel company in India.
He started his own company, Mittal Steel, in 1976 and grew it into the world’s largest steelmaker through a series of mergers and acquisitions. In 2006, Mittal merged Mittal Steel with Arcelor to create ArcelorMittal.
In this article, we glance upon his net worth, family, businesses and more.
Net Worth
According to Forbes, as of 2023, Lakshmi Mittal’s net worth is estimated to be around $17.3 billion, making him the 100th richest person in the world and 5th richest in India.
Salary
As per CA Knowledge, Mittal earns an annual salary in the north of a whopping Rs 4,800 crore.
Family
Mittal is married to Usha Mittal, and they have two children, Aditya and Vanisha Mittal. The family is known for their extravagant lifestyle and their many luxurious homes around the world and some really expensive properties in London.
In 2021, Mittal handed over the role of CEO to his son, Aditya Mittal, while he continues to hold the position of executive chairman at ArcelorMittal while daughter Vanisha, serves as the non-independent director of the firm.
Other businesses and roles
Mittal holds a 3 percent stake in the EFL Championship Club Queens Park Rangers F.C. and serves as a prominent member of multiple executive committees, councils, and boards around the world. These include The European Aeronautic Defence and Space Company, Goldman Sachs, the Global Advisory Council of the Indian PM, Cleveland Clinic, among several others.
His wealth primarily comes from his ownership and leadership of ArcelorMittal, which is the world’s largest steelmaking company. Additionally, he has made strategic investments in various companies and ventures over the years, which have also contributed to his wealth.
Philanthropy
In terms of philanthropy, Mittal and his family have donated millions of dollars to various causes, including education, healthcare, and disaster relief efforts. The Mittal Foundation, established in 2007, focuses on providing education and healthcare to underprivileged communities in India.
