4 Lesser-Known Facts About the Steel King, Lakshmi Niwas Mittal Lakshmi Niwas Mittal, the CEO of ArcelorMittal, the largest steel-making company in the world, has turned 73. Named the richest person in 2005, he has an illustrious career of turning sick steel companies into profitable ventures.
By Kavya Pillai Edited by Kavya Pillai
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Lakshmi Niwas Mittal, one of the wealthiest Indian businessmen, turned 73 on June 15, 2023. The CEO of ArcelorMittal, the largest steel-making company in the world (borne out of the merger of Arcelor and Mittal Steel in 2006), has an illustrious career of turning sick steel companies into profitable ventures.
Mittal has built himself from the ground up and was named the richest person in 2005. While it is well-known that he has a 12-bedroom mansion located at London's most illustrious location, 18-19 Kensington Palace Gardens, and his house was decorated with the same marble that was used in the construction of the Taj Mahal (this marble was excavated from the same mine from where Shah Jahan brought it out), there are some lesser-known facts too about him, hidden from the eyes of the world. Entrepreneur India takes a look at few of them.
1. Charitable Work
In 2003, Mittal joined hands with the government of Rajasthan and instituted the LNM Institute of Information Technology (LNMIIT) in Jaipur, which is an autonomous non-profit organization. He then started the Mittal Champions Trust to support and sponsor 10 Indian athletes who demonstrate great potential. In 2008, when Abhinav Bindra secured India its first Olympic goal medal for individual shooting he was bestowed with Rs. 1.5 crores by Mittal. In the same year, Mittal gifted 15 million pounds (Rs 1,129,621,164) to Great Ormond Street Hospital in London. Deemed the largest private donation that the hospital has received, the amount was used to fund the Mittal Children's Medical Centre.
2. Journey to the Laurels
Man who purchased the state-owned steelworks in Tobago and Trinidad, which were making an enormous loss and turned them into profitable ventures in just a year, is a recipient of several prestigious awards. In 2004, he was honoured with the European Businessman of the Year award, and also secured the Forbes Lifetime Achievement Award in 2008.
3. A member of important boards
The alumni of St. Xavier's College, Kolkata, Mittal has been on the board of many companies, including Goldman Sachs, as well as European Aeronautic Defense and Space Company. Besides, he is an important part of the World Steel Association's executive committee and a well-known member of different councils including the Indian Prime Minister's Global Advisory Council, the Presidential International Advisory Board of Mozambique, the Foreign Investment Council in Kazakhstan, and the World Economic Forum's International Business Council.
4. One of the wealthiest citizens in London
After making a humble beginning by joining the mill as a trainee in 1970 and then opening steel mill in Indonesia six years later, Mittle has come a long way, and is hailed as one of India's richest businessman, but in comparison to the posh citizens residing in the metropolis city of London, he is the richest. His extravagant arrangements for his daughter's wedding turned heads. One of the wedding functions was held at the Palace of Versailles, which was reportedly the first private event held there.
