steel tycoon buys third major property for £70 million in
London, June 24, 2008
Sant Parkash Singh
NRI Lakshmi Mittal, 58, President
and CEO of the world's largest steel company Arcelor-Mittal, has
bought third major property for £70 million in Kensington
Palace Gardens, near the last home of Diana, Princess of Wales.
This property was the former Philippines Embassy
and the most expensive street in London. According to the local
media, this house is expected to be modernised for his daughter
Vanisha Bhatia. In June 2004, Mittal spent £30 million on
Vanisha’s wedding to Amit Bhatia. Wedding extravaganza took
six-day long, which saw over 1000 guests, including leading Indian
industrialists and Bollywood stars at the Grand Intercontinental
Last month he bought a second house of £117million
for his son Aditya,32, on the street called “Billionaire's
Row” near the Israeli Embassy. This house include world's
art collections. Aditya is the finance director of his father’s
steel company Arcelor-Mittal.
In 2004, Lakshmi Mittal
bought his first house a `Guinness Book Records-breaking
central London house for a record price of 70 million pounds.
This house is 12-bedroom house in the prestigious Kensington Palace
Gardens and it has garage space for 20 cars. This manson was sold
by former Labour donor, Bernie Ecclestone, the Formula One racing
boss, who bought it for his wife three years ago.
Now Lakshmi Mittal is
worth an estimated near £28 billion.