Jun 30, 2020
From $82 Million Wedding To Bankruptcy, The Descent Of Lakshmi Mittal’s Brother
The billionaire steel magnate declined to bail out his sibling, who was declared bankrupt owing $160 million yesterday.
PROFILE
Lakshmi Mittal
$23.6B
$45M (0.19%)
Real Time Net Worth
as of 12/19/25
Reflects change since 5 pm ET of prior trading day.
Photo by Ludovic Marin/AFP/Getty Images
From the Editor
- Lakshmi Mittal serves as chairman of $62.4 billion (revenue) ArcelorMittal, the world's largest steel and mining company by output.
- Hailing from a steel clan, he separated from his siblings to start Mittal Steel then went on to merge the company with France's Arcelor in 2006.
- ArcelorMittal reported net income of $1.3 billion in 2024, an over 40% rise from $919 million in 2023.
- In 2019, Arcelor and Nippon Steel completed their $5.9 billion acquisition of Essar Steel, once controlled by former billionaires Shashi and Ravi Ruia.
- In 2021, Mittal ceded the CEO's position to his son, Aditya Mittal, but retained the title of executive chairman of ArcelorMittal.
Wealth History
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Personal Stats
- Age
- 75
- Source of Wealth
- Steel
- Residence
- London, United Kingdom
- Citizenship
- India
- Marital Status
- Married
- Children
- 2
- Education
- Bachelor of Arts/Science, St Xavier's College Calcutta
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Billionaire Battles: ArcelorMittal And Essar Steel Continue To Fight It Out
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Lakshmi Mittal Taking Major Loss On London Mansion
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Oct 24, 2012
India's 100 Richest Have Mixed Year, Eke Out Small Gain
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Apr 29, 2012
Indian Steel Tycoon Says Gov't Too Slow, Investing Elsewhere
Lakshmi Mittal disses India's government for taking too long to approve ArcelorMittal's new steel projects in the country. Says he will invest elsewhere. Worth noting: he already is investing elsewhere. India is an after-thought to the country's second richest man.
Mar 7, 2012
Billionaire Busts: The Year's Biggest Losers
Lakshmi Mittal lost $10.4 billion in the past year, more than any other billionaire. But he had plenty of company as 441 got poorer.
Oct 27, 2011
Ambani Brothers, Lakshmi Mittal Have Lost Nearly $100 Billion Since Peak
Anil Ambani is India’s biggest loser but he has plenty of company
Feb 10, 2011
Steel Shares Show Strength as Demand Increases
ArcelorMittal’s Chief Executive Officer, Lakshmi Mittal, said in an interview that he expects demand to rise about 10% this year in the US, while Chinese and European demand will grow by 6-7%.
Dec 21, 2010
Jindal beats out Lakshmi Mittal to buy Indian steelmaker
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Oct 4, 2010
Billionaire Lakshmi Mittal Thwarted in Ukraine
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Lakshmi Mittal On The American Dream
India's richest man explains what the American Dream means to him.
Oct 6, 2006
Billionaire Mordashov To Float His Steel Giant
Gears up to go head to head with bitter rival, Lakshmi Mittal.
Jun 30, 2006
Arcelor Investors Snub Billionaire Mordashov
Leaves door open for Lakshmi Mittal to claim his $32 billion prize.
Mar 10, 2005
Lakshmi Mittal's $19 Billion Year
A spectacular double-merger at the end of last year catapulted the Indian-born steel magnate into the very top tier of the world's billionaires.