Lakshmi Mittal has an estimated net worth of $16.5 billion
Lakshmi Mittal is an Indian steel magnate with an estimated net worth of $16.5 billion. Lakshmi Niwas Mittal was born on June 15, 1950 in Rajgarh, India to a family heavily involved in the steel business. His father ran Nippon Denro Ispat, a iron,steel, mining, and energy firm. When Mittal graduated from St. Xavier’s College, Calcutta with a bachelor of commerce degree in business and accounting, he opened his first steel factory in Sidoarjo, East Java, Indonesia. He opened his factory in Indonesia due to the Indian government’s curb on steel production. Until the 1990s, the Mittal’s family’s profits mainly came from a cold-rolling mill for steel sheets in Nagpur and an alloy steel plant in Pune. Today the Mittal family’s business has expanded to include a large integrated steel plant near Mumbai.
Lakshmi Mittal is currently the CEO of the London-based ArcelorMittal. His company is the largest steelmaking company in the world. He sits on the World Steel Association’s executive committee and in 2007 Time magazine named Mittal as as one of the “100 Most Influential Persons in the World.”
When Lakshmi Mittal’s sold his residence at 18-19 Kensington Palace Gardens to Formula One boss Bernie Ecclestone for $128 million- it made it the most expensive home in the world. The home is decorated with the marble from the same quarry that supplied the Taj Mahal. Some called his residence the “Taj Mittal” due to the lavishness. The residence includes 12 bedrooms, an indoor pool, parking for 20 cars, and Turkish baths. He owns three prime properties on ”Billionaire’s Row” at Kensington Palace Gardens that are collectively worth $813,550,000.
Lakshmi Mittal has enough net worth to buy:
1. 238,957.2 BMW M Series Convertibles ($69,050 each)
2. 343,463.7 Monique Pean Woolly Mammoth & Diamond Slice Earrings ($48,040 each)
3. 379,092.4 Mercedes Benz SLK-Class Roadsters ($43,525 each)
Lakshmi Mittal has enough net worth to give everyone in China $12.11
