How Did Lakshmi Mittal Make His Money?

Lakshmi Mittal’s Profile Summary

Company	ArcelorMittal
Position	Executive Chairman
Source of wealth	Steel production and mining (via ArcelorMittal) Equity stakes in companies such as Aperam and HPCL-Mittal Energy
Also known as	Philanthropist, Sports Patron, Industrialist
Age	75
Education	St. Xavier’s College, University of Calcutta – Bachelor of Commerce (B.Com.)
Citizenship	Indian
Residence	London, United Kingdom
Family	Spouse: Usha Mittal Children: Two children
Website, Social Media	https://corporate.arcelormittal.com/ https://www.linkedin.com/company/arcelormittal/posts/?feedView=all

Lakshmi Mittal’s biography

Lakshmi Mittal, born on June 15, 1950, in Rajasthan, India, is a global steel magnate and one of the wealthiest individuals in the world. After earning a degree in commerce from St. Xavier’s College, University of Calcutta, he began his career working in his family’s steel business. In 1976, due to governmental restrictions in India, Mittal set up his own steel factory in Indonesia, marking the start of his independent career.

Mittal’s rise to prominence came through his aggressive acquisition strategies. In the 1980s and 1990s, he expanded his operations by acquiring distressed steel mills globally, particularly in countries like Trinidad and Tobago, Kazakhstan, and Mexico. In 2006, he made headlines with a $33 billion hostile takeover of Arcelor, Europe’s largest steel producer at the time, forming ArcelorMittal. Mittal is widely credited with consolidating the fragmented global steel industry, making ArcelorMittal a leading player

How did Lakshmi Mittal make money?

Lakshmi Mittal, the billionaire founder of steel giant ArcelorMittal, has become a leader in the global steel industry through bold strategic decisions and an ability to transform distressed assets. His business journey began in 1976 with the acquisition of a small steel mill in Indonesia. The plant was on the verge of bankruptcy, but Mittal was able to implement effective management methods, reviving production and creating a profitable enterprise. This experience became the basis for further expansion of his business.

In 1989, he made a breakthrough by acquiring loss-making steel assets in Trinidad and Tobago. Using advanced production technologies and strict cost control, Mittal turned the plant into a highly profitable enterprise. This success cemented a strategy based on buying undervalued assets in crisis regions. In the following years, he expanded aggressively, acquiring enterprises in Eastern Europe, the United States, Canada and Asia.

Mittal Steel Company has achieved global success, becoming the largest steel corporation in the world. In 2006, the company merged with Arcelor, which gave birth to ArcelorMittal, a giant with an annual production volume of more than 70 million tons of steel. The company's main markets were the construction, automotive and industrial sectors, and its total turnover exceeded $ 100 billion per year. ArcelorMittal also invests in the extraction of raw materials, which ensures control over the supply chain. In addition, Mittal owns assets in the energy sector, which increases the diversification of his capital. Today, Lakshmi Mittal's fortune is estimated at $ 17 billion, and his company remains a global leader in the metallurgical industry.
What is Lakshmi Mittal net worth?

As of 2025, Lakshmi Mittal’s net worth is estimated to be $18.1 B.

What is Lakshmi Mittal also known as?

Lakshmi Mittal is well-known for his philanthropic contributions. He founded the Mittal Champions Trust to support Indian athletes and has donated millions to educational causes, including the LNM Institute of Information Technology in Jaipur. He also funded the Mittal Children's Medical Centre at the Great Ormond Street Hospital in London

Prominent achievements of Lakshmi Mittal

Led the formation of ArcelorMittal through a $33 billion merger, creating the world's largest steel company.
Recipient of the Padma Vibhushan, one of India’s highest civilian honors, in 2008.
Named Person of the Year by the Financial Times and International Newsmaker of the Year by Time Magazine in 2006

What are Lakshmi Mittal’s key insights?

Lakshmi Mittal’s business philosophy centers on global consolidation and vertical integration within the steel industry. He has focused on acquiring undervalued assets and restructuring them for profitability. His leadership at ArcelorMittal also emphasizes sustainable development and decarbonization in the steel sector

Lakshmi Mittal’s personal life

Spouse: Usha Mittal

Children: Two children, Aditya Mittal (CEO of ArcelorMittal) and Vanisha Mittal

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