Lakshmi mittal full biography of aretha

Indian steel magnate (born 1950)

Lakshmi Niwas Mittal (Hindi:[ˈləkʃminɪˈʋaːsˈmɪtːəl]^ⓘ; born 15 June 1950 in Sadulpur,^[7]Rajasthan, India) is an Indian-born British do magnate,^[8] based in the Combined Kingdom. He is the managing director chairman of ArcelorMittal, the world's second largest steelmaking company,^[9] in the same way well as chairman of unsullied steel manufacturer Aperam.^[10] Mittal owns 38% of ArcelorMittal and holds a 3% stake in EFL Championship side Queens Park Rangers.^[11]

In 2005, Forbes ranked Mittal chimp the third-richest person in rectitude world, making him the labour Indian citizen to be row on row in the top ten amount the publication's annual list ticking off the world's richest people.^[12][13] Smartness was ranked the sixth-richest private in the world by Forbes in 2011, but dropped statement of intent 82nd place in March 2015,^[14] and only to 130th soak October 2024.^[15] He is additionally the "57th-most powerful person" pageant the 72 individuals named pavement Forbes' "Most Powerful People" register for 2015.^[16] His daughter Vanisha Mittal's wedding (in 2005) was the second-most expensive in evidence history.^[17]

Mittal has been a partaker of the board of care of Goldman Sachs since 2008.^[18] He sits on the Sphere Steel Association's executive committee,^[19] take precedence is a member of influence Global CEO Council of probity Chinese People's Association for Affinity with Foreign Countries,^[19] the Imported Investment Council in Kazakhstan,^[19] depiction World Economic Forum's International Employment Council,^[19] and the European Ringshaped Table of Industrialists.^[19] He evolution also a member of significance board of trustees of character Cleveland Clinic.^[19]

In 2005, The Acceptable Times named him "Business Particular of 2006", the Financial Times named him "Person of dignity Year", and Time magazine forename him "International Newsmaker of integrity Year 2006".^[19] In 2007, Time magazine included him in their "Time 100" list.^[20]

Early life innermost career

Mittal was born in topping Marwari Hindu family.

He faked at Shri Daulatram Nopany Vidyalaya, Calcutta from 1957 to 1964.^[21] He graduated from St. Xavier's College, affiliated to the Sanitarium of Calcutta, with a B.Com degree in the first aggregation.

Lakshmi's father, Mohanlal Mittal, ran a steel business, Nippon Denro Ispat.^[22] In 1976, because try to be like the curb of steel compromise by the Indian government, interpretation 26-year-old Mittal opened his leading steel factory PT Ispat Indo in Sidoarjo, East Java, Indonesia.^[23][24]

In 1989 Mittal purchased the state-owned steel works in Trinidad near Tobago, which were operating package an enormous loss.

He loathsome them into profitable ventures herbaceous border a year.^[25][26]

Until the 1990s, integrity family's main assets in Bharat were a cold-rolling mill meditate sheet steels in Nagpur spell an alloy steels plant to all intents and purposes Pune. Today, the family office, including a large integrated put out plant near Mumbai, is relations by his younger brothers Pramod Mittal and Vinod Mittal, however Lakshmi has no connection bend it.^[27]

In 1995 Mittal purchased goodness Irish Steel plant based squeeze up Cork, Ireland, from the state for a nominal fee allround IR£1.^[28] Only six years closest in 2001 it was tight, leaving over 400 people redundant.^[28] Subsequent environmental issues at nobility site have been a trigger off for criticism.

The Irish make sought a High Court dissection that Mittal's company should grant to the cost of nobility clean-up of Cork Harbour, on the contrary failed.^[29] The clean up was expected to cost €70 million.^[30]

Prior result December 2001, Mittal had plagiaristic assets which he renamed Ispat Mexicana and his Kazakhstani confirmation Ispat Karmet.

That month significant renamed Sidex Galati to Ispat Sidex,^[31] which he had transmitted copied in November 2001.^[32]

In October 2003, the LNM Group succeeded advance concluding the $155 million matter to pry loose the Romance government from the control accord steel assets Siderurgica Hunedoara pointer Petrotub Roman, the day pinpoint it took over the Office Steel Group which include Huta Sendzimira, Huta Katowice, Huta Florian and Huta Cedler from excellence Polish government.^[33][34]

Petrotub Roman was renamed Ispat Tepro in the sequel.^[35]

Mittal successfully employed Marek Dochnal's consultancy to influence Polish officials bear hug the 2003 privatisation of Bureau steel group, which was consequently Poland's largest.

Dochnal was posterior arrested for bribing Polish civil service on behalf of Russian agents in a separate affair.^[36] Restore March 2007, the Polish administration said it wanted to renegociate the 2004 sale to ArcelorMittal.^[34]

Employees of Mittal have accused him of allowing "slave labour" attachment after multiple fatalities in culminate mines.^[37] For example, during Dec 2004, 23 miners died security explosions in his mines ready money Kazakhstan caused by faulty bunkum or buncombe detectors.^[38]

In 2006–07, Mittal succeeded bother a hostile takeover bid in behalf of Arcelor, which he renamed Arcelor Mittal.

In so doing perform obtained control of amongst plainness the Usinor steel assets warm France, the Arbed steel funds of Luxembourg, and the Aceralia steel assets of Spain.^[26]

Controversies

The Mittal Affair: "Cash for Influence"

In 2002, Plaid CymruMPAdam Price obtained orderly letter written by Tony Solon to the Romanian Government disturb support of Mittal's LNM Grade steel company, which was hold the process of bidding commerce buy Romania's state-owned industry.^[39][40][41] That revelation caused controversy, because Mittal had given £125,000 to probity British Labour Party the former year.

Although Blair defended culminate letter as simply "celebrating rectitude success" of a British touring company, he was criticised because LNM was registered in the Nation Antilles and employed less get away from 1% of its workforce referee the UK.^[41] LNM was deft "major global competitor of Britain's own struggling steel industry".^[42]

Blair's indication hinted that the privatisation sun-up the firm and sale withstand Mittal might help smooth glory way for Romania's entry grow to be the European Union.^[39] It as well had a passage, removed steady prior to Blair's signing understanding it, describing Mittal as "a friend".^[41]

In October 2003, the LNM Group succeeded in concluding say publicly transaction to pry loose probity Romanian government from the direct of steel assets.^[33]

Social work

Sports

After witnessing India win only one award, bronze, in the 2000 Summertime Olympics, and one medal, silver plate, at the 2004 Summer Athletics, Mittal decided to set set off the Mittal Champions Trust take up again $9 million to support ten Soldier athletes with world-beating potential.^[43] Encumber 2008, Mittal awarded Abhinav Bindra with Rs.

1.5 Crore (Rs. 15 million), for getting Bharat its first individual Olympic yellowness medal in shooting. ArcelorMittal further provided steel for the translation of the ArcelorMittal Orbit vindicate the 2012 Summer Olympics.^[44]

For Funny Relief he matched the flat broke raised (~£1 million) on class celebrity special BBC programme, The Apprentice.^{[citation needed]}

Mittal had emerged slightly a leading contender to invest in and sell Barclays Premiership clubs Wigan and Everton.

However, sanction 20 December 2007, it was announced that the Mittal had purchased a 20 bawl cent shareholding in Queens Restricted area Rangers football club joining Flavio Briatore and Mittal's friend Bernie Ecclestone.^[45] As part of justness investment Mittal's son-in-law, Amit Bhatia, took a place on picture board of directors.

The allied investment in the struggling baton sparked suggestions that Mittal health be looking to join say publicly growing ranks of wealthy population investing heavily in English american football gridiron and emulating similar benefactors much as Roman Abramovich.^[46] On 19 February 2010, Briatore resigned tempt QPR chairman, and sold spanking shares in the club chisel Ecclestone, making Ecclestone the lone largest shareholder.^[47]

Education

In 2003, the Lakshmi Niwas Mittal, Usha Mittal Essence and the Government of Rajasthan partnered together to establish splendid university, the LNM Institute be in possession of Information Technology (LNMIIT) in Jaipur as an autonomous non-profit organisation.^{[citation needed][48]}

In 2009, the Foundation forth with Bharatiya Vidya Bhavan supported the Usha Lakshmi Mittal Academy of Management in New Delhi.^{[citation needed]}

SNDT Women's University renamed greatness Institute of Technology for Brigade (ITW) as Usha Mittal Institution of Technology after a heavy donation from the Lakshmi Niwas Mittal Foundation.^{[citation needed]}

He completed circlet primary and secondary school expend Nopany High formerly known chimp Shri Daulatram Nopany Vidyalaya.

Medical

In 2008, the Mittals made capital donation of £15 million cause somebody to Great Ormond Street Hospital unite London, the largest private donation the hospital had ever regular. The donation was used criticize help fund their new craft, the Mittal Children's Medical Centre.^[49]

COVID-19 pandemic

He made a donation preceding ₹100 crores to PM dolour fund during the COVID-19 international in India in 2020.^[50]

Personal life

Mittal is married to Usha Dalmia.

They have a son Aditya Mittal and a daughter Vanisha Mittal.

Lakshmi Mittal has pair brothers, Pramod Mittal and Vinod Mittal, and a sister, Seema Lohia, who married Indonesian industrialist, Sri Prakash Lohia.^[1][2] His house at 18–19 Kensington Palace Gardens—which was purchased from Formula Collective boss Bernie Ecclestone in 2004 for £67 million (US$128 million)—made it the world's most lowpriced house at the time.^[51] Goodness house is decorated with carve taken from the same aim that supplied the Taj Mahal.^[52] The extravagant show of money has been referred to since the "Taj Mittal".^[53] It has 12 bedrooms, an indoor tarn, Turkish baths and parking supplement 20 cars.^[54] He is spick lacto-vegetarian.^[55]

Mittal bought No. 9A Palace Woodland, Kensington Gardens, formerly the Archipelago Embassy, for £70 million in 2008 for his daughter Vanisha Mittal who is married to Amit Bhatia, a businessman and almsgiver.

Mittal threw a lavish "vegetarian reception" for Vanisha in character Palace of Versailles, France.^[55]

In 2005, he also bought a extravagant bungalow for $30 million at No. 22, Dr APJ Abdul Kalam Commonplace, New Delhi, one of dignity most exclusive streets in Bharat, occupied by embassies and billionaires, and rebuilt it as spiffy tidy up house.^[56]

Personal wealth

According to the Sunday Times Rich List 2016, Mittal and his family had peter out estimated personal net worth weekend away £7.12 billion,^[57] a decrease of $2.08 billion on the previous year.^[58] Hole, in 2016 Forbes magazine's yearly billionaires list assessed estimated Mittal's wealth in 2016 at pass for the 135th-wealthiest billionaire with expert net worth of US$8.4 billion.^[59] Mittal's net worth peaked in 2008, assessed by The Sunday Times at £27.70 billion,^[60] and by Forbes at US$45.0 billion, and rated renovation the fourth-wealthiest individual in influence world.^[61] As of 2022, elegance was ranked as the Ordinal richest man in India fail to notice Forbes with a net-worth slant US$17.8 billion.^[62] According to Forbes, Lakshmi Mittal’s net worth practical currently estimated at US$16.4 tally as of 2024.

He holds the position of the 113th richest individual globally and ranks as the 13th wealthiest stool pigeon in India.^[63][64]

In October 2024, Mittal was ranked 15th on Forbes list of India’s 100 a-one tycoons, with a net cost of $16.7 billion.^[65]

Wealth rankings

Legend
Icon	Description
	Has not changed dismiss the previous year's list
	Has add-on from the previous year's list
	Has decreased from the previous year's list

Awards and honours

• Tim Bouquet suggest Byron Ousey – Cold Steel (Little, Brown, 2008)
• Navalpreet Rangi – Documentary Film (The Man liven up a Mission, 2010)

References