Man of Steel
Lakshmi Niwas Mittal is the Chairman and CEO of Arcelormittal, the world’s largest steel making company. He is known as the Indian steel magnate and holds a 38 per cent stake in it.
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 was a member of the former 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.
Lakshmi Mittal was born in Rajgarh tehsil of Churu district in Rajasthan, India. His father, Mohan Lal Mittal, ran a steel business. In 1976, due to the Curb of steel production by Indian government, the 26-years-old Lakshmi Mittal opened his first steel factory PT Ispat Indo in Sidoarjo, East Java, Indonesia. 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.
Laxmi Mittal has contributed significantly towards social causes. He has set up a Mittal Champions Trust with $9 million to support 10 Indian athletes with world-beating potential. In 2008, Mittal awarded Abhinav Bindra with INR 1.5 crore for getting India its first individual Olympic gold medal in shooting. ArcelorMittal also financed the construction of Arcelor Mittal Orbit for 2012 Summer Olympics. In the field of education, he, along with the Usha Mittal Foundation and the government of Rajasthan, partnered together to establish a university, the LNM Institute of Information Technology in Jaipur as an autonomous non-profit organisation. In 2008, Mittal also made a donation of £15 million to the Great Ormond Street Hospital in London, the largest private contribution the hospital has ever received.
He lives at 18-19 Kensington Palace Gardens which was purchased in 2004 for US$128 million. It was the world’s most expensive house at the time. The house is decorated with marble taken from the same quarry that supplied the construction material for Taj Mahal. He has won many awards and honours including Dostyk 1 in 2010, Forbes Lifetime Achievement Award in 2008, Padma Vibhushan in 2008, Grand Cross of Civil Merit in 2007, Dwight D. Eisenhower Global Leadership Award in 2007, Entrepreneur of the Year in 2004, 8th honorary Willy Korf Steel Vision Award in 2004 and Steel Maker of the Year in 1996. Also, in 2006, The Sunday Times named him “Business Person of 2006”, the Financial Times named him “Person of the Year”, and Time magazine named him “International Newsmaker of the Year 2006”. In 2007, TIME magazine included him in their list of “100 most influential persons in the world”.