Lakshmi Mittal
is one of the richest men in the world, according to Forbes Magazine. Mittal is
a British who was born in India. He is the CEO and Chairman of the Mittal Steel Company.
Mittal is born
Lakshmi Narayan Mittal. He is also known as Lakshmi Niwas Mittal. He was born
in 1950 in Rajasthan, India. He finished his degree in Bachelor of Commerce at
St. Xavier College in Calcutta.
His fortune as a
steel baron started in their family’s steel company in India. With more than 30
years of experience in steel works and other allied industries, Mittal
established the Mittal Steel in 1976. Mittal Steel has a global impact and
operates in 14 countries.
Mittal was the
first to use Direct
Reduced Iron (DRI) as scrap substitute for producing steel. He was
responsible for consolidating the process of the steel industry. With average
annual shipments of 42 million tons of steel and average annual profits of $22
billion, Mittal Steel is the biggest steel maker in the world.
Some of Mittal’s
awards included the “European Businessman of the Year (2004)” which was given
by the Fortune magazine; “Steelmaker of the Year (1996)” given by New Steel, as
well as the “Willy Korf Steel Vision Award (1998) by the American Metal Market
and PaineWeber’s World Steel Dynamics.
Mittal has one
of the most expensive houses in the UK. His house in Kensington was purchased
in 2003 for $128 million.
Mittal is also a
member of several trusts like the Executive Committee of the International Iron
and Steel Institute, the International Business Council of the World Economic
Forum, South Africa’s International Investment Council, and Kazakhstan’s
Foreign Investment Council.
Some companies
with which Mittal has an influence included Kellogg School of Management where
he sits as member of the Advisory Board, and the ICICI Bank Limited where he is
a Director.
Mittal is also
active in many charitable and philanthropic works.
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