LAKSHMI MITTAL • Net Worth $18 billion • House • Yacht • Private Jet • Arcelor Mittal

Name:Lakshmi Mittal
Net Worth:$18 billion
Source of Wealth:Arcelor Mittal
Born:June 15, 1950
Country:India / UK
Wife:Usha Mittal
Children:Aditya Mittal, Vanisha Mittal
Residence:London, UK
Private Jet:Gulfstream G550 (VQ-BLA)
Yacht 2:ALAIYA

Unveiling the Man Behind the Steel: Lakshmi Mittal

Lakshmi Mittal, an Indian-born powerhouse, is renowned worldwide as a leading figure in the steel industry. Serving as both the chairman and CEO of the globally recognized steel company ArcelorMittal, he has redefined the landscape of steel production.

Key Takeaways

  • Lakshmi Mittal is an influential player in the global steel industry, serving as the chairman and CEO of the world’s largest steel company, ArcelorMittal.
  • Under Mittal’s leadership, ArcelorMittal operates in 19 countries and produces over 100 million tons of steel annually.
  • Mittal has a significant 40% stake in ArcelorMittal, further solidifying his commitment and influence within the industry.
  • Diversifying his portfolio, Mittal also holds shares in the professional football club, Queens Park Rangers F.C.
  • Mittal funded the creation of the ArcelorMittal Orbit, a permanent legacy for the 2012 Olympic Games in London, highlighting his contributions to cultural heritage.
  • He is the owner of the yachts Aalto (ex Amevia) and Alaiya. Aalto is listed for sale.

ArcelorMittal: The Titan of the Steel Industry

Under Mittal’s leadership, ArcelorMittal has emerged as the planet’s foremost integrated steel and mining conglomerate. Located in Luxembourg, the enterprise serves as the largest steel producer globally, boasting an impressive output exceeding 100 million tons across its facilities spanning 19 nations. Notably, in 2018, ArcelorMittal broadened its influence by acquiring Essar Steel for a monumental US$ 1 billion. With revenue and net income reaching US$ 70 million and US$ 5 billion, respectively, it employs a robust workforce of 198,000.

Family Influence: The Mittal Legacy in Steel

Mittal’s stake in the company accounts for a whopping 40% of shares, a testament to his unrivaled dedication to the steel industry. Furthermore, his family plays a critical role in the company’s governance. His progeny, daughter Vanisha Mittal Bhatia, and son Aditya Mittal, occupy pivotal roles on the board of directors and as CFO, respectively.

From Steel to Sports: Mittal’s Diversified Interests

Beyond the sphere of steel, Mittal also holds a significant stake in London’s professional football club, Queens Park Rangers F.C.

A Permanent Legacy: The ArcelorMittal Orbit

Mittal’s contribution to London’s cultural heritage is undeniable. The ArcelorMittal Orbit stands as a testament to his vision, a stunning 115-meter-high (377 ft) observation tower erected for the 2012 London Olympic Park. As the UK’s largest artwork, it symbolizes a lasting legacy for the monumental 2012 Olympic Games in London.

Lakshmi Mittal Net Worth

Mittal is one of the richest men in the world with an estimated net worth of $18.5 billion. He lives in Kensington, London where he owns a residence. He purchased the house from Formula One boss Bernie Ecclestone in 2004 for GBP 57 million. It was the world’s most expensive house.

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Lakshmi Mittal

Lakshmi Mittal

Mittal Yachts AALTO and Alaiya

He is the owner of two superyachts:  the yacht AALTO which was built as AMEVI by Oceanco.

The yacht AALTO, originally named Amevi, is a luxury vessel built at the esteemed Oceanco shipyard in the Netherlands, with an estimated worth of US$ 125 million.

AALTO is one of the largest yachts globally, measuring a remarkable 80.00 m (262.5 ft) long, with a 14.20 m (46.6 ft) beam, a 3.90 m (12.8 ft) draft, and a gross tonnage of 2,310.

Powered by twin MTU 16V 595 TE70 engines, it can reach a maximum speed of 18.5 knots, with an average cruising speed of around 14 knots.

In 2023 the yacht was listed for sale, probably because he now owns a new yacht.

And since December 2021, he also owns the yacht Alaiya. Both yachts are owned by the same legal entity.

Alaiya was built as Tis and was later known as Lady Gulya. He used to own a smaller Amels yacht, which he sold and is now named DEJA TOO.