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UK NRI steel tycoon Lakshmi Mittal


Arcelor Mittal to build single largest steel
site at Hazira: Laksmi Mittal

January 22,2024

Lakshmi Mittal, the executive chairperson of steel manufacturing corporation ArcelorMittal, on Wednesday announced that the corporation will build the world's single largest steel manufacturing site at Gujarat's Hazira by 2029. Mittal was addressing the ongoing Vibrant Gujarat Global Summit (VGGS) 2024 while making the announcement.

The steel baron said that the first phase of the steel manufacturing site will be completed by 2026 whereas the second phase, marked by a Memorandum of Understanding (MoU), will be completed by 2029. Once operational, the expanded manufacturing facility will produce around 24 million tonnes (MT) of steel, making it the world's largest steel manufacturing site.

"Hazira expansion was inaugurated by PM in 2021. Phase one will be completed by 2026, 2nd phase MoU signed, will be completed by 2029 and will produce 24 mn tonnes steel and it will become the world's biggest plant," Lakshmi Mittal said at the summit.

In October 2022, ArcelorMittal arm ArcelorMittal Nippon Steel (AMNS) India had announced an investment of around Rs 60,000 crore to scale up the capacity of the steel plant to 15 MT, company chairman Aditya Mittal told PTI at the time. The investment was for installation of new steel making technologies, setting up new-age machineries and increasing product mix.



UK NRI steel tycoon Lakshmi Mittal net worth 2022 is $18.3 billion

January 26,2022

As stated by the Forbes list index, NRI Lakshmi Mittal is one of the richest men in India and  the world's largest steelmaking company, ArcelorMittal.
Lakshmi Mittal serves as chairman of $53.3 billion (revenue) ArcelorMittal

  • In January 2021, Mittal ceded the CEO's position to his son, Aditya Mittal, but remains executive chairman of ArcelorMittal.
  • The company reported a net loss of $700 million in 2020, a year in which steel shipments declined by close to a fifth.
  • In 2019, Arcelor and Nippon Steel completed their $5.9 billion acquisition of Essar Steel




NRI Lakshmi Mittal, Chairman and CEO, ArcelorMittal NET WORTH $10.6B

  • Nov 10, 2020: Lakshmi Mittal, chairman and CEO of $70.6 billion (revenue) ArcelorMittal, the world's largest steel and mining company by output.
  • Hailing from a steel clan, he separated from his siblings to start Mittal Steel then went on to merge the company with France's Arcelor in 2006.
  • The company reported a net loss of $2.5 billion in 2019, due to lower steel prices and higher raw material costs.
  • In 2019, Arcelor and Nippon Steel completed their $5.9 billion acquisition of Essar Steel, once controlled by billionaires Shashi and Ravi Ruia.
  • His son, Aditya Mittal is ArcelorMittal's president and chief financial officer. His daughter, Vanisha Mittal Bhatia, has a board seat.




-ArcelorMittal is the world's leading steel company, with operations in more than 60 countries. ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing approximately 10 per cent of world steel output.

  • Country of Citizenship: India
  • Source of Wealth: Steel


  • Net Worth- $13.6 Billion


  • Net Worth- $16.5 B As of March 2013
  • Lakshmi Mittal is facing hard times; his fortune dropped more than $4 billion in the past year, and is down $14.6 billion in two years as shares of his ArcelorMittal, the world's largest steelmaker, tanked due mainly due to slumping demand in Europe, which forced it to take a $4.3 billion writedown.

March 2012: Age: 62

It reported a net loss of $3.7 billion in 2012

    • Net Worth $20.7 B
    • #21 Forbes Billionaires
    • #2 in India
    • #47 Powerful People 


Fifty Indians, including Lakshmi Mittal with a net worth of $31.1billion made it to the Forbes list-Fifty Indians, including L.N. Mittal, the Ambani brothers and Azim Premji, have made it to the Forbes list of World Billionaires 2011, as Indians Chinese, Russians and Brazilians raced to catch up with Americans, still at the top. Indian steel czar Lakshmi Mittal with a net worth of $31.1 billion grabbed the sixth place with net profits of ArcelorMittal, world's largest steel-maker, rising 18-fold to $2.9 billion in 2010 on recovery in demand for the commodity and higher margins



UK NRI steel tycoon, posts $903m gain after three quarterly losses

EU approves acquisition of Dutch company by ArcelorMittal

UK NRI Mittal of ArcelorMittal eliminate as many as 9000 jobs worldwide (38)


UK NRI steel tycoon Lakshmi Mittal, now world's biggest loser after his net worth 13.7 billion dollars as compared $45 billion in January.

UK NRI Mittal steel tycoon wins Forbes Lifetime Achievement Award- I'm not done yet.. I'm still pretty young: Mittal

UK NRI Mittal steel tycoon buys third major property for £70 million in London 2008-35

NRIs among the recipients of the Padma awards from President of India

UK NRI Mittal (ArcelorMittal), steel tycoon to invest USD 25 billion in India

March 05, 2008: Four Indians figured in the top 10, with NRI/Indian steel entrepreneur Lakshmi Mittal placed fourth with 45 billion dollars and heads world's largest steelmaker, $105 billion (sales) ArcelorMittal, which accounts for 10% of all crude steel production. Just delivered 580 tons to be used in construction of the World Trade Center memorial in New York. With 44% stake, is the company's largest shareholde

UK NRI Mittal and US Farallon Capital, bought 28.6% stake in Indiabulls for Rs 1,580 crore


NRI, fifth richest man in the world, has bought up a 20 per cent stake in Queen's Park Rangers, soccer club UK

Dec. 04, 2007: ArcelorMittal Acquires Leading UK distribution company, NSD Ltd (1)

July28, 2007: Mittal Steel Poland captures 90% steel production in Poland

April 23, 2007: Sunday Times Rich List- Lakshmi Mittal remains Britain's richest man at Sunday Times Rich List

March 25, 2007: NRI Mittal, steel tycoon sign MoU with HPCL for Bhatinda, Punjab refinery

De. 31, 2006: NRI Mittal named Businessman of 2006 by The Sunday Times

Dec. 06: NRI Lakshmi Mittal top UK rich list

Nov. 17: Lakshmi Mittal, remains No. 1, worth $25 billion in the Fortune list of 40 richest in India

Nov.06: NRI Mittal appointed CEO of merge Arcelor Company

July 26: NRI Mittal, steel tycoon now owns 92% of Arcelor (06_27)

July 04: NRI Mittal, steel tycoon in India -Worried Tatas in Steel Sector (26)

April 09: NRI Mittal, steel tycoon, richest Asian in Britain in 2006 (25)

March 01: NRI, UK, Steel tycoon Lakshmi Mittal is the richest Indian (24)

Jan. 30: Arcelor rejects Mittal's takeover bid

Jan 28: NRI, Mittal made a $22.8 billion offer to take over its rival, Arcelor

Jan 19, 2006: NRI, Lakshmi Mittal is the Richest Man in South Africa

Nov.09, 2005: NRI, Mittal launched Rs. 40 crore "Mittal Champions Trust" for young Indian sports men and women

Nov. 01 : NRI Mittal donated $3 million Kellogg MBA scholarships 20

Oct. 28: Mittal wins 'Asian Entrepreneur of the Year' Award 19a

Oct. 12: NRI Mittal donate one million dollars Hurricane Katrina rebuilding

Oct.12: NRI, Mittal to invest 134mn pounds in Mexico & 5 billion pounds at Jharkhand, India (18)

Sep. 26: NRI Lakshmi Mittal has appointed his daughter on the board

July 14: NRI Lakshmi Mittal has donated 2 million pounds to the Labour Party

June 23: Lakshmi Mittal becomes a major investor in RAB Capital

June 07: NRI steel tycoon Lakshmi Mittal, may invest in Jharkhand

June 03: NRI MITTAL EARNS RECORD INCOME US $4.7 billion in 2004

May 14: Mittal donates $2 mn to tsunami aid

May 02: An NRI from Rajasthan said, "Steel industry flourishing"

April 20: Lakshmi Mittal, NRI denies reports of investment in India (05_10)

April 03: Lakshmi Mittal richest in Britain- wealth 14.8 billion pounds (05_9)

March 22: Lakshmi Mittal, NRI steel tycoon richest in Europe (8)

March 13: UK NRI steel baron Lakshmi Mittal 3RD -RICHEST PERSON IN THE WORLD

Feb. 01: NRI steel tycoon Lakshmi Mittal, has earned a record net income of 4.7 billion dollars in 2004 (05_6)


Jan 16: Lakshmi Mittal named 'Europe Businessman of the Year'(05_4)
Jan 16: Mittal plans three more acquisitions in Eastern Europe (05_3)

Jan 13:Mittal donates one million pounds for tsunami relief (05_2)

Dec. 05, 2004: Mittal faces piquant situation- site of an iron ore mine on one mass grave at Bosnian Serbs

Nov. 20, 2004: Mittal to celebrate daughter's wedding in Kolkata, Delhi

Oct 26, 2004: Britain's richest man- Lakshmi Mittal, NRI, Steel Tycoon worth £12bn

Oct. 25, 2004: NRI business tycoon Lakshmi N Mittal-owned Ispat International today emerged as world's largest steelmaker

Oct. 07, 2004: NRI Mittal of LNM to invest more than a 1 billion dollars into CEE

July 01, 2004: NRI steel baron Lakshmi Mittal, will build its first steel production plant in China with an estimated investment of $100 million.

May 25, 2004: Britain's 4th richest NRI Mittal's daughter to marry - Amit Bhatia (L) and Vanisha Mittal celebrate at rings ceremony during their wedding festivities at Versailles in Paris

Short Biography of both Families

March 08, 2004: Lakshmi Mittal 4th richest in Britain: His wealth was put at 3.1 billion pounds this year as against 1.25 billion pounds in 2003.

Lakshmi Mittal: one of the UK's richest tycoons

Rise of the billion dollar knight in shining armour Lakshmi Mittal owns a company bigger than British Steel and is the UK's wealthiest Asian. So why have so few heard of him?

January 16, 2004

London-based Indian steel magnate Lakshmi Mittal is believed to have embarked on a new initiative to gain total control of the South African steel industry

NRI industrialist Lakshmi N.Mittal, has signed an MoU to set up a cold rolling and coating plant in China

Mr Lakshmi N. Mittal
Chairman and CEO
Mittal Steel Company Ltd, United Kingdom

Mr. Lakshmi N. Mittal is the Chairman and CEO of Mittal Steel Company. He founded the company (formerly the LNM Group) in 1976 and has been responsible for the strategic direction and development of its businesses.

Mittal Steel is the only truly global steel producer in the world with operations on 14 countries, spanning 4 continents.
Mr. Mittal's ability to guide the company in its identification, acquisition and turnaround of steel assets has led to its emergence as one of the world's fastest growing steel producers.

Mr. Mittal began his career working in the family's steelmaking business in India, and has over 30 years of experience working in steel and related industries.

Over the years, Mr. Mittal has also championed the development of integrated mini-mills and the use of Direct Reduced Iron or "DRI" as a scrap substitute for steelmaking and led the consolidation process of the global steel industry.

Other related activities of Mittal Steel include shipping, power generation and distribution, and mining.

Following the transaction combining Ispat International and LNM Holdings to form Mittal Steel in December 2004, together with the simultaneous announcement of the acquisition of International Steel Group in the US to form the world's largest steel producer, Mr. Mittal was awarded Fortune magazines "European Businessman of the Year 2004".

Previously, he was awarded "Steelmaker of the Year" in 1996 by New Steel in the USA, and the "Willy Korf Steel Vision Award" in June 1998, for outstanding vision, entrepreneurship, leadership and success in global steel development from American Metal Market and PaineWeber's World Steel Dynamics.

Mr. Mittal is an active philanthropist and a member of various trusts. Mittal Steel is a significant contributor to local community and welfare activities for employees in countries where the Group operates.

Mr. Mittal is a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum's International Business Council and the International Iron and Steel Institute's Executive Committee.
He is a Director of ICICI Bank Limited and is on the Advisory Board of the Kellogg School of Management in the U.S.

He was born in Sadulpur in Rajasthan, India on June 15, 1950, and graduated from St. Xavier's College in Calcutta where he received a Bachelor of Commerce degree.
He is married to Usha Mittal, and has a son, Aditya Mittal and a daughter, Vanisha Mittal.



Lakshmi Mittal

Lakshmi Mittal, steel tycoon

  • Oct. 27, 2008: UK NRI steel tycoon Lakshmi Mittal was the richest man in Europe and the 4th richest man in the world but now world's biggest loser after his net worth 13.7 billion dollars as compared $45 billion in January.
  • UK NRI steel tycoon Lakshmi Mittal is the richest man in Europe with his fortune estimated, 27.7 billion pounds ($45 billion). He is Britain's wealthiest person for fourth year in a row. April 27, 2008


The world's most expensive 70 million pounds house bought by Mittal