In this blog, we are going to explore more in depth on Lakshmi Mittal net worth, he rises to prominence as a powerful icon of the world steel business as the current chairman and chief executive officer of Arcelor Mittal, the world’s largest steel producer. Lakshmi mittal experiences throughout the years in various lines of business have made him successful and even wealthy.
Are you curious about Lakshmi Mittal net worth, it’s time to discuss it !
About Lakshmi Mittal
Lakshmi Mittal, one of the most important personas in the world of steel, is a widely appreciated business man and a leader. The foremost billionaire entrepreneur Mittal is the chairman and CEO of ArcelorMittal, the world’s largest steel manufacturing company, where the proper strategic investment and tremendous innovative intervention has made him billionaire. His net assets have not only demonstrated his achievement in the industrialized area but also his important contribution to reestablish the world steel market.
I. Personal life & Education
Lakshmi Mittal is an India born in Sadulpur, Rajasthan in 1950. The family immigrated to the other side of the country. To the new place of residence of Kolkata, Mittal’s father put into operation a steel mill. Mohanlal Mittal, his father, was a tycoon of India who had a small firm of Nippon Denro Ispat which dealt in steel goods. His mother was Geeta mittal. Lakshmi Mittal has three siblings, one is Pramod Mittal, he was also involved in the steel business, other Vinod Mittal, he has also been associated with his family business and Seema , she is married to Sri Prakash Lohia, Indorama Corporation, he is a multinational conglomerate engaged in petrochemicals and textiles.
Mittal had his primary and secondary education in Shri Daulatram Nopany Vidyalaya Calcutta in 1957 to 1964. Subsequent to that, Mittal joined St. Xavier’s College in Kolkata and received a Bachelor of Commerce (B.Com.) degree from St. Xavier’s College in Kolkata, easily one of the finest colleges in India. Mittal worked in the mill while in St. Xavier’s College was undertaking his studies in 1970 and after that engaged in the steel making Industry in India.
Also Read this: Cyrus Poonawalla Net Worth, Career and Personal life
II. Marital Life
Lakshmi Mittal’s wife is Usha Mittal. The two have two children. In February 2021, he handed over CEO’s chair at ArcelorMittal to his son, Aditya Mittal. Vanisha Mittal Bhatia is also a non-independent director of the company; she is the daughter of the chairman of the board.
III. Career
He first practiced in his family and formed a steel business company, which at the initial stage was established to undertake small scale steel manufacture. He moved to Indonesia in 1976 where he set up his own steel firm. It would later be known as ArcelorMittal, one of the largest steel makers on earth. Mittal bought up steel companies located in the United States of America, Europe, South Africa and many other countries and changed all these Companies that were incurring losses into profit making companies. In 2004, Mittal merged Ispat International and LNM Holdings and formed a new company Mittal Steel.
In September 2006, Mittal merged with Arcelor, a Luxembourg steel maker to form what was the world’s largest stealing company ArcelorMittal. The two companies merged to form ArcelorMittal and with that joining produced almost one fourth of the world’s steel capacity. As of today, Mr Lakshmi Mittal is the Executive Chairman of ArcelorMittal and is responsible for its operations worldwide. As the head of family business, the Mittal, he handed over the CEO position of ArcelorMittal to his son Aditya Mittal. Mittal also funds education and children’s health as he is a philanthropist by heart. He is also the joint owner of Queens Park Rangers F.C.
Also Read this: Kushal Pal Singh Net worth – Monthly Income, Personal life
Personal Details of Lakshmi Mittal
| Attribute | Details |
| Name | Lakshmi Niwas Mittal |
| Born | June 15, 1950 |
| Birth Place | Sadulpur, Rajasthan, India |
| Nationality | Indian |
| Age | 74 |
| Education | Bachelor of Commerce from St. Xavier’s College, Kolkata |
| Profession | Steel magnate, Executive Chairman of ArcelorMittal |
| Net Worth | Approximately $16.4 billion / 1,610 crores USD |
| Spouse | Usha Mittal |
| Children | Vanisha Mittal, Aditya Mittal |
| Parents | Mohan Lal Mittal – Geeta Mittal |
| Siblings | Two younger brothers, Pramod and Vinod Mittal |
| Residence | London |
History of ArcelorMittal
ArcelorMittal as the largest global steel maker has a history of mergers and acquisitions of a great scale. The company originated in 1976 when the chairman, Lakshmi Mittal, set up his first steel mill in Indonesia. In 2001 there was a consolidation of the European steel industry with the merger of Arbed with Aceralia and Usinor to form Arcelor. In the years past, the company experienced some difficulties, including the cyclical issue of the global market and organizational restructuring activities like the establishment of the Aperam stainless steel spin-off in 2011. It also took over Ilva group steel making facilities in Italy in 2018 and divested the entire U.S. operations to Cleveland Cliffs in 2020. Presently, ArcelorMittal has maintained its operational strategies’ direction of sustainability and innovation.
Lakshmi Mittal Net worth in 2024
Let’s breakdown the Lakshmi Mittal Net Worth:
| Net worth | $16.4 Billion |
| Monthly income | $2.56 million |
| Annual income | $308 million |
By 2024, Lakshmi Mittal net worth is expected to reach $16.4 Billion and thus position him among the world’s billionaires as number 113 and among the Indian billionaires as number 10. For 2024, this estimate came to approximately ₹ 21.20 crore or around $2.56 million for the month and ₹2544.58 crore or around $308 million for the year. This huge income can be attributed to his role at the ArcelorMittal company as the executive chairman of the world’s largest steelmaking firm that remains profitable.
Also Read this: Sunil Mittal Net Worth – Monthly Income, Personal life, Biography
Awards & Achievements
This table summarizes Lakshmi Mittal notable awards and achievements throughout his career.
| Award/Achievement | Year | Description |
| Steelmaker of the Year | 1996 | Awarded by New Steel in the United States for excellence in steel manufacturing. |
| Fortune’s European Businessman of the Year | 2004 | Acknowledged for significant business leadership in Europe. |
| Person of the Year | 2006 | Named by Financial Times for outstanding achievements in business. |
| Knighted by Queen Elizabeth II | 2007 | Recognized for contributions to the British steel industry. |
| Padma Vibhushan | 2008 | India’s second-highest civilian honor awarded for exceptional service. |
| World Steel Association Medal | 2010 | Honored for contributions to sustainable development in the steel industry. |
| Doctor Honoris Causa | 2013 | Received from AGH University of Science and Technology, Poland, for academic contributions. |
Conclusion
Altogether, the estimation of Lakshmi Mittal net worth represents the enormous success of an ordinary boy coming from a small town in India to the owner of a global steel producing company. By proper mergers and acquisitions as well as tireless hard work and dedication, Mittal has always grown his business empire. Therefore, as the industry of steel continues to change, it will be relevant to know the financial ability of Lakshmi Mittal through his level of success in the industrial bearing.
PS: Please help me improve my content, share your feedback by clicking any of the emojis below 👇
FAQ’s – Lakshmi Mittal Net worth
Lakshmi Mittal is the executive chairman of ArcelorMittal, the world’s largest steel producer, and one of the most influential business leaders globally.
As of 2024, Lakshmi Mittal net worth is estimated to be $16.4 billion.
Lakshmi Mittal began his career by working in his family steel business and later established his first steel mill in Indonesia in 1976.
Lakshmi Mittal primary income comes from his role as the executive chairman of ArcelorMittal, along with other business ventures and investments.
Lakshmi Mittal’s wife is Usha Mittal. He has two children: Aditya Mittal, who is the CEO of ArcelorMittal, and Vanisha Mittal Bhatia, a non-independent director of the company.
Some awards include the Padma Vibhushan (2008), being knighted by Queen Elizabeth II (2007), and being named Person of the Year by the Financial Times (2006).
ArcelorMittal was formed through a merger of Mittal Steel and Arcelor in 2006, combining strategic acquisitions and innovations.
Lakshmi Mittal is involved in funding education and children’s health initiatives globally, demonstrating his dedication to philanthropy.
In 2024, Lakshmi Mittal is ranked 113th globally and 10th among Indian billionaires.
