Lakshmi Mittal

Net worth: $32 billion

Chairman and chief executive, ArcelorMittal

Lakshmi Mittal is a London-based Indian billionaire industrialist, born in Sadulpur village, in the Churu district of Rajasthan, India, and resides in Kensington, London. He is the richest man in Europe and the fourth richest person in the world, with a personal fortune of US$45.0 billion according to Forbes magazine.

The Financial Times named Mittal its 2006 Person of the Year. In May 2007, he was named one of the "100 most influential people" by Time magazine.
The Indian steel titan is head of ArcelorMittal, the world’s leading steelmaker by output. Mittal is the fifth-wealthiest person in the world, according to Forbes’ annual billionaires list, released last March.

Lakshmi Mittal began his career working in the family's steelmaking business in India, and in 1976, when the family founded its own steel business, Mittal set out to establish its international division, beginning with the buying of a run-down plant in Indonesia. Shortly afterwards he married Usha, the daughter of a well-to-do moneylender. In 1994, due to differences with his father and brothers, he branched out on his own, taking over the international operations of the Mittal steel business, which was already owned by the family. Mittal's family never spoke publicly about the reason that caused the split.

Recently, Mittal had emerged as a leading contender to buy Barclays Premiership clubs Wigan and Everton. However on 20 December 2007 it was announced that the Mittal family had purchased a 20 per cent shareholding in Queens Park Rangers football club joining Flavio Briatore and Mittal's friend Bernie Ecclestone. As part of the investment Mittal's son-in-law, Amit Bhatia, took a place on the board of directors. The combined investment in the struggling club sparked suggestions that Mittal might be looking to join the growing ranks of wealthy individuals investing heavily in English football and emulating other similar benefactors such as Roman Abramovich.

As of March 2008, Mittal remains the richest man living in the United Kingdom. However, he has not yet received British citizenship, and therefore cannot be officially considered until late 2008/early 2009. Throughout 2007 he failed to reach the official "United Kingdom Residents" rich list as he primarily stayed in Romania as he attempted to buy the country's National Steel Industry. As of 8th October 2007, the 44.79% stake which the Mittal family have in Arcelor-Mittal was worth $47.159 billion dollars, down from $48.4 billion in late September.This makes him the world's 5th wealthiest man after Bill Gates, Warren Buffet, Carlos Slim and Ingvar Kamprad. As of 11th October 2007, his stake was worth $50.56 billion dollars, making him the fifth person in the world to have more than $50 b wealth.

As of 2008 April 1, Mittal family owns 43.04% of Arcelor Mittal, worth $50.42 billion.

Awards

• 2008: Padma Vibhushan
• 2007: Bessemer Gold Medal
• 2006: Person of the Year - Financial Times
• 2004: European Businessman of the Year - Fortune magazine
• 1998: Willy Korf Steel Vision Award - American Metal Market and PaineWeber’s World Steel
Dynamics

• 1996: Steelmaker of the Year - New Steel
For more about this dynamic man go on and read his Biography entitled Lakshmi Mittal - Billionaire Steel Magnate