Lakshmi Mittal Biography

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Biography of Lakshmi Mittal

The London – based, Rajasthan born steel baron is the Chairman and CEO of Mittal Steel Company and the World’s 3rd Richest Man.

Lakshmi Narayan Mittal also known as Lakshmi Niwas Mittal is a billionaire industrialist, born in Rajasthan, India in 2nd September, 1950. Lakshmi graduated from St. Xavier’s College in Calcutta where he received a Bachelor of Commerce degree. He later married Usha Mittal, and had a son and daughter.

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. Mittal founded the company Mittal Steel ( formerly the LNM Group ) in 1976 and has been responsible for the development of its businesses ever since. Mittal Steel is a global steel producer with operations in 14 countries.

Lakshmi Mittal Early Life

Lakshmi Narayan Mittal alias Lakshmi Niwas Mittal was born into an Indian business family in Rajgarh tehsil ( also known as Sadulpur ) of Churu district in Rajasthan, India. His family moved from ( Rajgarh ) Sadulpur, Rajasthan to Calcutta in West Bengal. Mittal has two siblings – Pramod Mittal and Vinod Mittal. He studied at Shri Daulatram Nopany Vidyalaya from 1957 to 1964.

He graduated from St. Xavier’s College, Calcutta, with a Bachelor of Commerce degree in business and accounting. His father, Mohan Lal Mittal, ran a steel business, Nippon Denro Ispat. Until the 1990s, the family’s main assets in India were a cold – rolling mill for sheet steels in Nagpur and an alloy steels plant near Pune. Today, the family business, including a large integrated steel plant near Mumbai, is run by Pramod and Vinod, but Lakshmi has no connection with it.

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Lakshmi Mittal Education

In 2003, the Lakshmi Niwas Mittal and Usha Mittal Foundation and the Government of Rajasthan partnered together to establish a university, the LNM Institute of Information Technology ( LNMIIT ) in Jaipur as an autonomous non-profit organization.

In 2009, the Foundation along with Bharatiya Vidya Bhavan founded the Usha Lakshmi Mittal Institute of Management in New Delhi.

SNDT Women’s University renamed the Institute of Technology for Women ( ITW ) as Usha Mittal Institute of Technology after a large donation from the Lakshmi Niwas Mittal Foundation.

Lakshmi Mittal Personal Life

His residence at 18 – 19 Kensington Palace Gardens – which was purchased from Formula One boss Bernie Ecclestone in 2004 for £57 million ( US$128 million ) – made it the world’s most expensive house at the time. The house is decorated with marble taken from the same quarry that supplied the Taj Mahal. The extravagant show of wealth has been referred to as the “Taj Mittal”. It has 12 bedrooms, an indoor pool, Turkish baths and parking for 20 cars. He is a vegetarian.

Mittal bought No. 9A Palace Greens, Kensington Gardens, formerly the Philippines Embassy, for £70 million in 2008 for his daughter Vanisha Mittal who is married to Amit Bhatia, a businessman and philanthropist. Being a vegetarian, Mittal threw a lavish “vegetarian reception” for Vanisha in the Palace of Versailles, France.

Mittal owns three prime properties collectively worth £500 million on “Billionaire’s Row” at Kensington Palace Gardens.

In 2005 he also bought a colonial bungalow for $30 million at No. 22, Aurangzeb Road in New Delhi, India, the most exclusive street in the city, occupied by embassies and millionaires, and rebuilt it as a house.

Awards and Honors for Lakshmi Mittal

Year of Award or HonorName of Award or HonorAwarding Organization
2010"Dostyk" 1Republic of Kazakhstan
2008Forbes Lifetime Achievement AwardForbes
2008Padma VibhushanGovernment of India
2007Grand Cross of Civll MeritGovernment of Spain
2007Dwight D. Eisenhower Global Leadership AwardBusiness Council for International Understanding
2007FellowshipKing's College London
2004European Businessman of the YearForbes
2004Entrepreneur of the YearWall Street Journal
20048th honorary Willy Korf Stell Vision AwardAmerican Metal Market and World Steel Dynamics
1996Steel Maker of the YearNew Steel

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