Mittal family net worth stands currently at $15.9 billion. [46] It has 12 bedrooms, an indoor pool, Turkish baths and parking for 20 cars. Three years later, in 2001, it was closed, leaving 400 people redundant. [citation needed][29], In 2009, the Foundation along with Bharatiya Vidya Bhavan founded the Usha Lakshmi Mittal Institute of Management in New Delhi. [18], In 2005, The Sunday Times named him "Business Person of 2006", the Financial Times named him "Person of the Year", and Time magazine named him "International Newsmaker of the Year 2006". Mohan Lal Mittal, his father, operated a steel firm called Nippon Denro Ispat. He is the Chief Executive Officer of the Arcelor Mittal, the planet’s biggest steel making organization. [48], In 2005, he also bought a colonial bungalow for $30 million at No. [36][37][38] This revelation caused controversy, because Mittal had given £125,000 to the British Labour Party the previous year. Lakshmi Mittal serves as chairman and CEO of $70.6 billion (revenue) ArcelorMittal, the world's largest steel and mining company by output. The Personal Life of Lakshmi Mittal Mittal was born on September 2, 1950 into a business family. Her father was a money lender. Mr. Mittal and his wife, Usha Mittal, are active philanthropists. Mr. About Vanisha Mittal In 2004, she married Amit Bhatia and the wedding became the talk of the year. Lakshmi Mittal has two brothers, Pramod Mittal and Vinod Mittal, and a sister, Seema Lohia, who married Indonesian businessman, Sri Prakash Lohia. He was born on June 15 ,1950 in a small village in Churu, Rajasthan.His family had moved to Kolkata from here. Lakshmi Mittal Lakshmi Niwas Mittal is an Indian steel magnate, based in the United Kingdom. The donation was used to help fund their new facility, the Mittal Children's Medical Centre. Mittal’s elder son and Pramod Mittal’s brother, Laxmi Mittal, decided to break away from the family and took over the group’s overseas operations. His father, Mohanlal Mittal, also had a steel business name Nippon Denaro Ispat. That net worth makes him one of … They have a son Mittal]] and a daughter Vanisha Mittal. Lakshmi Nivas Mittal or the king of steel is undoubtedly the captain of the steel industry. We will continue to update information on Lakshmi Mittal’s parents. The post, which is currently held by Professor Adrian Hill, will be known as the Lakshmi Mittal and Family Professorship of Vaccinology in … She is the Chairman and Managing Director of Escada, the German fashion luxury brand. While Lakshmi Mittal went on his own path in the steel-making industry, the family business dealt mainly handled cold-rolling mills for sheet steel in Nagpur and Pune. For more than a decade, The Lakshmi Mittal and Family South Asia Institute at Harvard University has supported interdisciplinary research, engagement, and programming for faculty, students, and visiting scholars at Harvard and in the South Asia region. His family then relocated to Calcutta where his father established a small steel mill. directors and chairmen, Recipients of the Padma Vibhushan in trade & industry, Articles with unsourced statements from March 2014, Wikipedia articles with PLWABN identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, 8th honorary Willy Korf Steel Vision Award, American Metal Market and World Steel Dynamics, This page was last edited on 9 January 2021, at 18:06. [38], Mittal had emerged as a leading contender to buy and sell Barclays Premiership clubs Wigan and Everton. [35], In 2002, Plaid Cymru MP Adam Price obtained a letter written by Tony Blair to the Romanian Government in support of Mittal's LNM steel company, which was in the process of bidding to buy Romania's state-owned steel industry. [25], Until the 1990s, the family's main assets in India were a cold-rolling mill for sheet steels in Nagpur and an alloy steels plant near Pune. Although Blair defended his letter as simply "celebrating the success" of a British company, he was criticised because LNM was registered in the Dutch Antilles and employed less than 1% of its workforce in the UK. Lakshmi Mittal was born into a Baniya family. Lakshmi Mittal Parents- Mohan Lal Mittal and Geeta Mittal Lakshmi Niwas Mittal was born in 1950 in Sadulpur, Rajasthan. This steel magnate of Indian descent currently lives in London, even though he still holds Indian citizenship. She has been an integral part of Mittal’s steel business for 15 years and in 2997, Arcelor Mittal passed a resolution that ‘entrusted her with the temporary responsibility of managing’ the company in the absence of its directors. [12][13] He was ranked the sixth-richest person in the world by Forbes in 2011, but dropped to 82nd place in March 2015. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. About Lakshmi Narayan Mittal Until 1960's, the village Lakshmi Mittal was born into was deprived of basic amenities like electricity, water etc. The eponymous college of Usha Mittal Institute of Technology promotes women’s education in India. However, on 20 December 2007, it was announced that the Mittal family had purchased a 20 per cent shareholding in Queens Park Rangers football club joining Flavio Briatore and Mittal's friend Bernie Ecclestone. Jeffery Immelt Jeffrey Robert Immelt is an American business executive. Vanisha Mittal topped the Forbes list of the daughters of the world’s richest individuals in 2007. The wedding was said to have costed $78 million. They have a son Aditya Mittal and a daughter Vanisha Mittal. In 1974, he started the Ispat Group with operations in Indonesia as well. Lakshmi Mittal, born on 02th September, 1950, is an Indian financier of steel based in London. The clean up was expected to cost €70 million.[43]. Lakshmi Mittal is the eldest of his three brothers and one sister. She graduated from the European Business School in business and the School of Oriental and African Studies (University of London) in South Asian Studies. In 2017, the Mittal family made a significant gift to Harvard University, where Mr. Mittal is a member of the Global Advisory Council, to support the Lakshmi Mittal and Family South Asia Institute at Harvard University. Usha Mittal was born on January 1, 1970. His father ran a steel business, Nippon Denro Ispat. As of today, the family business is still run by Lakshmi’s brothers Pramod and Vinod. [32], In 2007, the Polish government said it wanted to renegotiate the 2004 sale to ArcelorMittal. Tarun Khanna, director of the Lakshmi Mittal and Family South Asia Institute and Jorge Paulo Lemann Professor at the Harvard Business School, highlighted the importance of creating a robust platform for knowledge-sharing, connecting those who may … Jeffery Immelt Jeffrey Robert Immelt is an American business executive. While Lakshmi Mittal went on his own path in the steel-making industry, the family business dealt mainly handled cold-rolling mills for sheet steel in Nagpur and Pune. His father, Mohanlal Mittal, ran a steel business, Nippon Denro Ispat. [citation needed], SNDT Women's University renamed the Institute of Technology for Women (ITW) as Usha Mittal Institute of Technology after a large donation from the Lakshmi Niwas Mittal Foundation. CELP has transformed the lives of first-in-family college students from over 115 countries by identifying & nurturing hidden talent to build next-generation leaders. [30], He made a donation of ₹100 crores to PM cares fund during the COVID-19 pandemic in India in 2020. [26], After witnessing India win only one medal, bronze, in the 2000 Summer Olympics, and one medal, silver, at the 2004 Summer Olympics, Mittal decided to set up the Mittal Champions Trust with $9 million to support ten Indian athletes with world-beating potential. Mittal did his schooling from Shri Daulatram Nopany Vidyalaya. He got his bachelor’s degree in Economics from the Wharton School of the University of Pennsylvania. Some 200 butlers, cooks and secretaries were reportedly flown into Spain from India and Thailand while the 500 guests were made to sign confidentiality agreements. [18] He is also a member of the board of trustees of the Cleveland Clinic. He studied at Shri Daulatram Nopany Vidyalaya, Calcutta from 1957 to 1964. Mittal was born on 15 June 1950 in Rajasthani marwari family in Sadulpur, Rajasthan. Lakshmi Niwas Mittal is an Indian-born steel magnate who is currently based in the United Kingdom and is the chairman and CEO of ArcelorMittal, the world’s largest manufacturer of steel.Fondly refered to as the Steel Baron of India, he is known for his lavish lifestyle and spening money on his family. Mr Mittal's brother is Lakshmi Mittal, Britain's 19th richest man, who owns a £300 million mansion in Mayfair and is head of Arcelor Mittal, the world's biggest steel manufacturer. [42], Mittal purchased the Irish Steel plant based in Cork, Ireland, from the government for a nominal fee of £1 million. Personal Life. [49], In December 2013, Mittal's niece Shrishti Mittal got married in a three-day celebration that is said to have brought Barcelona to a standstill and cost up to £50 million. [citation needed]. [55], Slave-labour allegations and questionable safety records, "Lakshmi Mittal Chairman and CEO of Mittal Steel", "Lakshmi Mittal, Owner of Karrick Limited", "Lakshmi Mittal, the King of Steel, Trips Up", "LN Mittal, Ratan Tata, Narayana Murthy get Padma Vibhushan", "The List of Great Entrepreneurs of India in 2015", "Lakshmi Mittal buys 20 per cent stake in Queens Park Rangers - Times of India", "Mittal richest in Europe and UK; fifth in the world", "The 12 Most Expensive Weddings in History", "India's Richest 2019: Fortune Favors A Few As Growth Slows", "India's Top Billionaires & Schools They Attended", "Lakshmi Mittal Biography: Education, Net Worth and His Personal Life", "Nur Saidah: Surabaya's steel woman in a tough industry", "Interesting facts about Lakshmi Mittal that will inspire you", "From the Caribbean to global steel giant: The rise of ArcelorMittal", "Mittal's Olympic dream is worth Rs 40 crore", "Mittals' £15m gift to Great Ormond Street is a record", "Coronavirus crisis: Lakshmi Mittal announces Rs 100 cr to PM CARES Fund", "How tycoon went from polo lawns to Polish jail", "Poland wants to renegotiate terms of PHS sale to Arcelor Mittal", "Methane Blast Kills at Least 23 at ArcelorMittal Coal Mine in Kazakhstan", "Lakshmi Mittal pushes QPR up the rich list", "Photo Gallery: Homes of the Billionaires", "On billionaire row, it's simple, veggie fare", "Just a little £50m family wedding, Mittal-style", "Rich List reveals wealthy reap profits under Labour", "Sunday Times Rich List: Bonfire of the billionaires wipes out £155bn fortune", "The Sunday Times Rich List 2010: Rising from the rubble", "Fifty Indians on Forbes' global billionaire club", "Top 10 Richest People in India: Mukesh Ambani, Lakshmi Mittal, Dilip Shanghvi", "Heir style: the rich kids who have it all", "Bill Gates tops Forbes billionaire list, Mukesh Ambani richest Indian", "2015 Forbes Billionaires: Full List Of Asia's 562 Richest People", Article on Mittal with background on Arcelor takeover bid, BBC News Online – "Glimpsing a Fairytale Wedding", Article on Mittal Family purchase of Escada, https://en.wikipedia.org/w/index.php?title=Lakshmi_Mittal&oldid=999339919, Indian Institute of Social Welfare and Business Management alumni, Queens Park Rangers F.C. Facing constraints at home, he sent Lakshmi to Indonesia in 1976, where he set up a plant. Lakshmi Mittal: The chairman and CEO of ArcelorMittal and one of the world's wealthiest billionaires. Aditya Mittal was born in Indonesia, where he grew up, studying at Jakarta International School. He was ranked in the top 10 of Forbes wealthiest people at one point just like Warren Buffett. [39], Blair's letter hinted that the privatisation of the firm and sale to Mittal might help smooth the way for Romania's entry into the European Union. [19], In 2019, Forbes named him in the list of India's Richest 2019. In the 1960s Mittal’s family moved to Calcutta (Kolkata), where his father operated a steel mill. Foundation’s thrust in the area of education is distinct. Subsequent environmental issues at the site have been a cause for criticism. Mittal and his wife Usha Mittal have a son, Aditya Mittal (who is President and Chief Financial Officer of ArcelorMittal), and a daughter, Vanisha Mittal Bhatia (who is a Director of ArcelorMittal). Amit Bhatia is the son of Arun and Renu Bhatia and is the current chairman of Hope Construction Materials (UK’s largest independent supplier of construction materials), vice-chairman of QPR and the owner of Swordfish Investments. FILE -- People pass through the Boeing campus in Renton, Wash., March 23, 2019. [33], Employees of Mittal have accused him of allowing "slave labour" conditions after multiple fatalities in his mines. The Lakshmi & Usha Mittal Foundation is a charitable trust founded by the Steel Baron Mr. Lakshmi N. Mittal. [14] He is also the "57th-most powerful person" of the 72 individuals named in Forbes' "Most Powerful People" list for 2015. The government tried to sue in the High Court to have him pay for the clean-up of Cork Harbour but failed. Mittal is credited with helping to globalize the steel industry's business model. Billionaire Lakshmi Niwas Mittal was born into an Indian Hindu business family in 1950, one of four children. [16], Mittal has been a member of the board of directors of Goldman Sachs since 2008. [34] During December 2004, twenty-three miners died in explosions in his mines in Kazakhstan caused by faulty gas detectors. [22], In 1976, due to the curb of steel production by the Indian government, the 26-year-old Mittal opened his first steel factory PT Ispat Indo in Sidoarjo, East Java, Indonesia. He worked with the investment bank Credit Suisse First Boston in the mergers department before joining the family business in 1997. [18] In 2007, Time magazine included him in their "Time 100" list. Lakshmi Mittal’s mother’s name is unknown at this time and his father’s name is under review. Mittal threw a lavish "vegetarian reception" for Vanisha in the Palace of Versailles, France. 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