King of steel: The man who owns world’s largest steel making company, Lakshmi Mittal, was born today (June 15), 65 years ago at Rajgarh, Rajasthan. The UK-based steel tycoon, known for acquiring and turning around sick steel mills profitable, was a B.Com graduate from St. Xavier's College, Calcutta. In addition to ArcelorMittal, he is a co-owner of Queens Park Rangers F.C. - a 2nd tier professional English football team.
Awards & Honors
Last decade was the best in his life as he was ranked the sixth richest person by Forbes in 2011 and honored with Padma Vibushan (India’s second highest civilian award in 2008) as he reached the pinnacle. He was chosen as the "Business Person of 2006" by Sunday times followed by a highly successful 2006. the same year Financial Times named him "Person of the Year".
He also got his name featured in the "100 most influential persons in the world" by Time magazine in the year 2007 in the following year after being entitled as the "International Newsmaker of the Year 2006" by the same magazine.
Married to Usha Mittal, he has two children - Vanisha and Aditya. Vanisha Mittal's marriage was the second most expensive in record books. His residence at 18-19 Kensington Palace Gardens which was purchased from F1 boss Bernie Ecclestone in 2004 for $128 million - made it the world's most expensive house back then. The house is said to be decorated with marbles taken from the same quarry that supplied the Taj Mahal.
He also got his name featured in the "100 most influential persons in the world" by Time magazine in the year 2007 in the following year after being entitled as the "International Newsmaker of the Year 2006" by the same magazine.
Personal Life
Married to Usha Mittal, he has two children - Vanisha and Aditya. Vanisha Mittal's marriage was the second most expensive in record books. His residence at 18-19 Kensington Palace Gardens which was purchased from F1 boss Bernie Ecclestone in 2004 for $128 million - made it the world's most expensive house back then. The house is said to be decorated with marbles taken from the same quarry that supplied the Taj Mahal.
What else
Mittal, the philanthropist set up Mittal Champions Trust with $9 million to support 10 Indian athletes with high potential. India's first individual Olympic gold medallist Abhinav Bindra received ₹1.5 Crores from Mittal in 2008. ArcelorMittal Orbit, a venue for 2012 Summer Olympics was sponsored by ArcelorMittal.
In his state of birth Rajasthan, he set up the LNM Institute of Information Technology (LNMIIT) in collaboration with the government, in Jaipur.
Current state
As of now his steel company is incurring a billion loss owing to a rough year for commodities due to which he has lost his long-held position as the world's second richest Indian to pharma tycoon Dilip Shanghvi. Shanghvi owns a net worth of $13.7 billion as of March 2015, according to Forbes.
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