Lakshmi Mittal

Who is Lakshmi Mittal?

Lakshmi Niwas Mittal is a London-based Indian steel magnate. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. Mittal owns 41 percent of ArcelorMittal and holds a 34 percent stake in the Queens Park Rangers F.C. football team.

In 2007, Mittal was the richest man of Asian descent in the United Kingdom. Despite being the eighth wealthiest man in Britain in 2002, he does not hold British citizenship. He was ranked the sixth richest person in the world by Forbes in 2011, but dropped to 21st place in 2012, due to having lost $10.4 billion the previous year. In spite of the drop, Forbes estimated that he still had a personal wealth of US$16 billion in October 2013. He is also the 47th "most powerful person" of the 70 individuals named in Forbes' "Most Powerful People" list for 2012. His daughter Vanisha Mittal's wedding was the second most expensive in recorded history.

Mittal has been a member of the board of directors of Goldman Sachs since 2008, and is also member of the board of directors of the European Aeronautic Defence and Space Company. He sits on the World Steel Association's executive committee, and is a member of the Indian Prime Minister’s Global Advisory Council, the Foreign Investment Council in Kazakhstan, the World Economic Forum’s International Business Council, and the Presidential International Advisory Board of Mozambique. He also sits on the advisory board of Northwestern University's Kellogg School of Management in the United States and is a member of the board of trustees of the Cleveland Clinic.