Lakshmi Mittal is one of India’s richest men and the chairman and controlling shareholder of ArcelorMittal. As of 2012, he was estimated to be worth $21.6 billion.
Introduction
Lakshmi Mittal is the owner of an Indian firm that is one of the largest steelmakers in the world. He is the chairman and CEO of ArcelorMittal.
Mittal has a 38% share in Arcelor Mittal, but owns no shares in QPR F.C.
As of July 2022, Lakshmi Mittal’s net worth is estimated to be roughly 18 billion dollars.
Early Life
On the 15th of June, 1950, in Sadulpur, a baby was born in the presence of his mother and father.
The young Mittal started his company for steel production at the age of 26 when the government of West Bengal banned the import of steel from the country.
Career
Mittal bought one of the least competitive steel mills in Trinidad, then in 1991-92 there was an economic downturn but that helped boost the firm’s profits.
A similar formula was used to make acquisitions all around the world, by buying failing companies, sending in special management teams, and reorganizing the company and its management.
This is true. I’ve been a part of this industry for most of my life. I know about how companies had to build their networks and how some companies found themselves in positions with limited access to the major customers.
His company had a large stake in the American market for flat-rolled steel. This allowed them to negotiate better prices from their suppliers.
Mittal Steel is the world’s largest steelmaker, with a market capitalization of more than $50 billion. The company is also one of the world’s largest producers of steel, coal and chemicals.
As of now, Lakshmi Mittal has a net worth of $18 billion.
Highlights
Mr. Mittal was born on 12 November 1938 in the small village of Jaitrapur on the bank of the Ganga river. His family was of modest means.
Favorite Quotes From Lakshmi Mittal
We’ve lived through several cycles and we’ve always managed to buy under good terms and conditions at the right time. This has enabled us to build a solid group that is now the world number one.
The Indian media are quick to label Mittal as “evil”.
When you work very hard for something, it doesn’t matter if something comes or doesn’t come, you have already done your bit and proved your dedication to the task.
3 Powerful Lessons From Lakshmi Mittal
Lakshmi Mittal is a billionaire businessman who owns one of the largest steel companies in the world. He has worked hard to build his fortune and now he has become a member of the Trillionaire club.
1. Hard Work Certainly Goes A Long Way
There are a lot of people who work hard, but if there are a lot of people working hard you have to ensure that you are working harder and it is a question of you having the right mindset to work harder and to stay motivated.
2. Strong Players
Even though there are ups and downs in the company’s performance, the key to the company’s success lies in the fact that the management team is well-coordinated.
3. Tough Times
I think the ability to survive tough times comes from being aware of and understanding the nature of tough times, and then you go into them with determination and understanding that you will succeed.
Summary
Mittal is a very wealthy man and owns several businesses. He also owns a large number of luxury apartments and is a member of the Club de la Riviera in Nice.
Mittal started his own steel business in Indonesia with four workers and a truck, and with the help of his father, made it into the most successful steel company in the world.
Lakshmi Mittal’s net worth has increased by around $4 Billion since January 2020.