Lakshmi Mittal Net Worth is $16 Billion USD and earns an annual income of $1 Billion dollars. Lakshmi Mittal is an Indian steel magnate, based in the United Kingdom. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. Lakshmi Mittal recently bought a brand new Aston Martin luxury car for $650,000 USD. The Net Worth of Lakshmi Mittal has seen a hike of 55% over the past few years. While calculating Lakshmi Mittal Net Worth we have included the data updated as of this Quarter. Check out the Exclusive information on Lakshmi Mittal Net Worth details such as Yearly Income, House, Car Collection, Investments etc. Also read Net Worth details of David Koch, Michael Bloomberg and Steve Bannon.
Lakshmi Mittal Net Worth and Income Details
|Lakshmi Mittal Net Worth||$16 Billion USD|
|Annual Income||$1 Billion USD|
|Luxury Cars – 12||$5 million USD|
|Houses – 5||$210 million USD|
Lakshmi Mittal Cars
The Car collection of Lakshmi Mittal is Quite Large. Lakshmi Mittal owns few of the best luxury cars in the world. The Car brands owned by Lakshmi Mittal include Porsche, Aston Martin, Range Rover and Rolls Royce.
Lakshmi Mittal Biography
Lakshmi Mittal studied at Shri Daulatram Nopany Vidyalaya, Calcutta from 1957 to 1964. He graduated from St. Xavier’s College, Calcutta, with a B.Com degree in first class from the University of Calcutta.
Lakshmi Mittal father, Mohanlal Mittal, ran a steel business, Nippon Denro Ispat. 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.
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. Today, the family business, including a large integrated steel plant near Mumbai, is run by his younger brothers Pramod Mittal and Vinod Mittal, but Lakshmi has no connection with it.
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 Mittal Champions Trust with $9 million to support 10 Indian athletes with world-beating potential.
In 2008, Lakshmi Mittal awarded Abhinav Bindra with Rs. 1.5 Crore (Rs. 15 million), for getting India its first individual Olympic gold medal in shooting. Arcelor Mittal also provided steel for the construction of the ArcelorMittal Orbit for the 2012 Summer Olympics.
In 2003, the Lakshmi Niwas Mittal and Usha Mittal Foundation and the Government of Rajasthan partnered together to establish a university, the LNM Institute of Information Technology (LNMIIT) in Jaipur as an autonomous non-profit organization.
In 2008 the Mittals made a donation of £15 million to Great Ormond Street Hospital in London, the largest private contribution the hospital had ever received. The donation was used to help fund their new facility, the Mittal Children’s Medical Centre.
Lakshmi Mittal successfully employed Marek Dochnal’s consultancy to influence Polish officials in the privatization of PHS steel group, which was Poland’s largest. Dochnal was later arrested for bribing Polish officials on behalf of Russian agents in a separate affair.
Employees of Lakshmi Mittal have accused him of “slave labour” conditions after multiple fatalities in his mines. During December 2004, twenty-three miners died in explosions in his mines in Kazakhstan caused by faulty gas detectors.
Lakshmi Mittal was born in June 1950 in Sadulpur, Rajasthan. Lakshmi Mittal is married to Usha Mittal. They have a son Aditya Mittal and a daughter Vanisha Mittal.
Lakshmi Mittal has two brothers, Pramod Mittal and Vinod Mittal, and a sister, Seema Lohia, who married Indonesian businessman, Sri Prakash Lohia. Lakshmi Mittal residence at 18-19 Kensington Palace Gardens—which was purchased from Formula One boss Bernie Ecclestone in 2004 for £67 million (US$128 million)—made it the world’s most expensive house at the time.
The house is decorated with marble taken from the same quarry that supplied the Taj Mahal. The extravagant show of wealth has been referred to as the “Taj Mittal”. It has 12 bedrooms, an indoor pool, Turkish baths and parking for 20 cars. He is a lacto-vegetarian.
Lakshmi Mittal bought No. 9A Palace Greens, Kensington Gardens, formerly the Philippines Embassy, for £70 million in 2008 for his daughter Vanisha Mittal who is married to Amit Bhatia, a businessman and philanthropist. Lakshmi Mittal threw a lavish “vegetarian reception” for Vanisha in the Palace of Versailles, France.
In 2005, he also bought a colonial bungalow for $30 million at No. 22, Dr APJ Abdul Kalam Road, New Delhi, one of the most exclusive streets in India, occupied by embassies and billionaires, and rebuilt it as a house.
In December 2013, Lakshmi 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 £50m. 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.
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Lakshmi Mittal Net Worth Growth Estimate
The Net Worth and Income of Lakshmi Mittal is expected to continue to grow at a Strong pace. Over the next few years, Lakshmi Mittal’s Net worth is likely to grow by around 65%.