Lakshmi Mittal Net Worth: Real Estate Investments and Assets

Lakshmi Mittal is a well-known name in the business world. Born in India in 1950, he is a prominent industrialist who is the chairman and CEO of ArcelorMittal, the world's largest steelmaking company.

Mittal is known for his wealth, real estate investments, and assets. In this article, we will take a closer look at Lakshmi Mittal's Net Worth, real estate investments, and assets, as well as how he earned and spent his money over the years.

Lakshmi Mittal Net Worth

In 2023 Lakshmi Mittal's Net Worth is 18.6 billion USD. Mittal's net worth has fluctuated over the years. In 2007, he was listed as the third-richest person in the world with a net worth of $45 billion.

However, in 2008, the global financial crisis caused a significant decrease in his net worth, dropping to $19.2 billion. Mittal's net worth has since recovered, and as of 2023, it stands at over $21 billion.

Lakshmi Mittal Net Worth Net Worth Over the Years

YearsLakshmi Mittal Net Worth Growth
(In Billions)
Lakshmi Mittal's Net Worth in 202318.7$
Lakshmi Mittal's Net Worth in 202212.3$
Lakshmi Mittal's Net Worth in 202113.4$
Lakshmi Mittal's Net Worth in 202010.4$
Lakshmi Mittal's Net Worth in 201917.8$
Lakshmi Mittal's Net Worth in 201818.5$

Lakshmi Mittal's Net Worth Growth Graph

Christian Bale Net Worth Growth 1

Lakshmi Mittal's net worth has been constantly increasing over the years. According to Forbes, his net worth was $22.7 billion in 2011, which increased to $38.3 billion in 2018, making him the 62nd richest person in the world. As of 2023, his net worth is estimated to be around $20 billion. Mittal's wealth comes from his steelmaking business, which he started in the 1970s.

Lakshmi Mittal''s Net Worth biography

NameLakshmi Mittal
BornJune 15, 1950 in Sadulpur, Rajasthan, India
NationalityIndian
EducationBachelor of Commerce from St. Xavier's College, Kolkata
Chartered Accountant (non-practicing)
CareerChairman and CEO of ArcelorMittal, the world's largest steelmaking company
Net worth (2023)US $18.6 billion (Forbes)
SpouseUsha Mittal
ChildrenAditya Mittal, Vanisha Mittal Bhatia

Early Life and Education

Lakshmi Mittal was born on June 15, 1950, in Rajasthan, India. He comes from a prominent business family and his father was a steel magnate. Mittal attended St. Xavier's College in Kolkata, where he earned a Bachelor of Commerce degree. After graduating, he joined his family's steel business.

How He Earned His Money

Mittal made his fortune in the steel industry. In the 1970s, he founded his own steel company, Mittal Steel, which grew rapidly through a series of acquisitions.

In 2006, Mittal Steel merged with Arcelor to become ArcelorMittal, the world's largest steel company. Mittal owns a 38% stake in the company. Lakshmi Mittal earned his money through his steelmaking business.

He started his career by working in his family's steelmaking business in India. In the 1970s, he founded Mittal Steel, which became one of the largest steelmaking companies in the world. In 2006, Mittal Steel merged with Arcelor, forming ArcelorMittal, the world's largest steelmaking company.

Mittal is known for his strategic business acumen and his ability to acquire struggling steel companies and turn them into profitable ventures.

Real Estate Investments and Assets

In addition to his stake in ArcelorMittal, Mittal has invested heavily in real estate. He owns properties all over the world, including a mansion in Kensington, London, which he purchased for £70 million in 2004.

He also owns a house in one of the most expensive neighborhoods in Delhi, India. In 2008, he purchased a mansion in Mumbai for $60 million.

Mittal also owns a number of other assets, including a private jet and a yacht. He has been known to throw lavish parties and has hosted events on his yacht in the past.

Lakshmi Mittal companies list

Lakshmi Mittal is an Indian steel magnate and the Chairman and CEO of ArcelorMittal, the world's largest steelmaking company. Here are some of the companies associated with Lakshmi Mittal:

ArcelorMittal: The world's largest steel producer with operations in 60 countries.

Aperam: A global stainless steel producer with facilities in Brazil, France, Belgium, and the Netherlands.

SGL Group: A leading manufacturer of carbon-based products and materials for a range of industries including steel, aerospace, and electronics.

Karrick Limited: A holding company with investments in a range of industries including steel, real estate, and oil.

Global Infrastructure Partners: An infrastructure investment firm that has invested in a range of assets including airports, ports, and renewable energy projects.

Cleveland-Cliffs: An American mining and natural resources company that produces iron ore and steel products.

VTB Bank: A Russian bank in which Lakshmi Mittal holds a significant stake.

Genus Power Infrastructures: An Indian electrical equipment manufacturer and supplier.

Sarda Energy and Minerals Limited: An Indian company that produces iron ore, steel, and power.

Uttam Galva Steels Limited: An Indian manufacturer of galvanized and color-coated steel products.

Nippon Steel Corporation: A Japanese steelmaker that Lakshmi Mittal's company, ArcelorMittal, has a joint venture with.

Pratham Investments: A private investment firm that invests in a range of industries including steel, real estate, and hospitality.

Sibanye-Stillwater: A South African mining company that produces gold, platinum, and other metals.

London Mining Network: An advocacy group that campaigns for the social and environmental impacts of mining companies, in which Lakshmi Mittal has been named as a key target.

Golconda Resources: An investment company that invests in a range of industries including steel, real estate, and renewable energy.

India Globalization Capital: A company that develops and commercializes medical cannabis products, in which Lakshmi Mittal has a significant stake.

Hamburger Hafen und Logistik: A German logistics company that operates the Port of Hamburg, in which Lakshmi Mittal has a stake.

Eramet: A French mining and metallurgy company that produces nickel, manganese, and other metals, in which Lakshmi Mittal has a stake.

General Solar Power: A Chinese solar energy company that Lakshmi Mittal has invested in.

QS Energy: A company that develops energy efficiency technologies, in which Lakshmi Mittal has a stake.

How He Spends His Money

Mittal is known for his extravagant lifestyle. He has been known to spend millions on the artwork, including a Picasso that he purchased for $28 million.

He also owns a collection of classic cars, including a Rolls Royce Phantom and a Bentley. Mittal is also a philanthropist and has donated millions to various charities and organizations. In 2008, he donated $15 million to Harvard University to fund the Lakshmi Mittal South Asia Institute.

Lakshmi Mittal is known for his luxurious lifestyle and his expensive purchases.

Apart from his real estate investments, private jet, and yacht, he also owns a fleet of luxury cars, including a Rolls Royce Phantom, a Mercedes-Benz S-Class, and a Bentley Flying Spur.

Mittal is also a philanthropist and has donated millions of dollars to various charitable causes. In 2008, he donated $15 million to the Great Ormond Street Hospital in London, and in 2010, he donated $10 million to the Harvard University South Asia Institute.

Lakshmi Mittal Quotes

"Business is not about money. It's about making a difference to society."(Lakshmi Mittal)

"The only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle."(Lakshmi Mittal)

"The best steel doesn't always make the best nails, but the best nail is useless without the best steel."(Lakshmi Mittal)

"I'm a great believer that the best way to predict your future is to create it."(Lakshmi Mittal)

"The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow."(Lakshmi Mittal)

"In business, trust is everything. People buy from you because they trust you."(Lakshmi Mittal)

"Leadership is about taking responsibility, not making excuses."(Lakshmi Mittal)

"It is important to remember that we all have magic inside us."(Lakshmi Mittal)

"Education is the most powerful tool you can use to change the world."(Lakshmi Mittal)

"To succeed in business, you must build a strong brand and never deviate from it."(Lakshmi Mittal)

Lesser known facts about Lakshmi Mittal

Here are some lesser-known facts about Lakshmi Mittal:

  • He started his career working in Indonesia, where he set up a small steel mill with the help of his family.
  • Mittal is known for his frugal lifestyle, despite being one of the richest people in the world. He reportedly drives a modest car and prefers to stay in budget hotels.
  • He is a big fan of cricket and is the owner of the Rajasthan Royals, a franchise in the Indian Premier League.
  • Mittal has been awarded several honorary degrees, including one from the University of Cambridge and another from the University of Warwick.
  • He is a member of the board of directors of Goldman Sachs and was also a member of the board of directors of EADS, the parent company of Airbus.
  • Mittal is married to Usha Mittal, and the couple has two children, a son and a daughter.
  • He is a patron of the arts and has donated millions of dollars to museums and galleries around the world, including the Tate Modern in London and the Musée National d'Art Moderne in Paris.

Final Thoughts

Lakshmi Mittal's net worth, real estate investments, and assets make him one of the wealthiest individuals in the world. He earned his money through his successful steelmaking business and is known for his luxurious lifestyle and philanthropic activities.

Mittal's story is a testament to the power of hard work, strategic business acumen, and the ability to turn struggling companies into profitable ventures.

Lakshmi Mittal is a successful businessman with a net worth of over $21 billion. He has made his fortune through his steel empire and has also invested in real estate and acquired various assets over the years.

Mittal is known for his luxurious lifestyle and philanthropic efforts. With his wealth and business acumen, Mittal has cemented his place as one of the richest individuals in the world.

FAQs

How much is Lakshmi Mittal worth?

As of 2023, Lakshmi Mittal's net worth is estimated to be over $20 billion.

What is Mittal's biggest investment?

Mittal's biggest investment is his stake in ArcelorMittal, the world's largest steel company.

What is Mittal's most expensive property?

Mittal's most expensive property is his mansion in Kensington, London, which he purchased for £70 million in 2004.

How does Mittal spend his money?

Mittal is known for his extravagant lifestyle and has been known to spend millions on artwork and classic cars.