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Lakshmi Mittal Biography

Lakshmi Mittal is a name that is synonymous with the steel industry. Born in Sadulpur, Rajasthan, India, on June 15, 1950, Lakshmi Niwas Mittal was the third child of a Marwari family. His father, Mohanlal Mittal, was a steel trader who ran a small steel business in India. Mittal's family moved to Calcutta (now Kolkata) in 1957, where he attended school.

Lakshmi Mittal


Mittal began his career in the steel industry working for his family's small steel business in Calcutta. In 1976, he founded his own steel company, Mittal Steel, which grew rapidly over the next two decades through acquisitions and mergers.


One of Mittal's most significant acquisitions was the purchase of the struggling state-owned steel company, International Steel Group, in 2004. The acquisition made Mittal Steel the largest steel producer in the world, and the company was subsequently renamed ArcelorMittal. The deal was one of the largest corporate takeovers in history, with a value of over $30 billion.


Mittal's success in the steel industry has been driven by his ability to spot undervalued steel companies and turn them around through cost-cutting measures and efficiency improvements. He is known for his aggressive management style and his willingness to take risks to achieve his goals.


Despite his success, Mittal has also faced criticism for his business practices. He has been accused of engaging in anti-competitive behavior and of exploiting workers in developing countries. Mittal has also been criticized for his extravagant lifestyle, which includes a private jet, a yacht, and multiple homes around the world.


In addition to his business activities, Mittal has been a prominent philanthropist. He has donated millions of dollars to charitable causes, including education, healthcare, and disaster relief. Mittal has also established several foundations to support these causes, including the Mittal Children's Medical Centre in London and the Lakshmi and Usha Mittal Foundation in India.


Mittal's personal life has also been the subject of media attention. He is married to Usha Mittal, and the couple has two children. Mittal is a resident of Kensington, London, and has been listed as one of the richest people in the world by Forbes magazine.


In conclusion, Lakshmi Mittal is a business magnate who has made a significant impact on the global steel industry. His aggressive management style and willingness to take risks have allowed him to build one of the largest steel companies in the world. While he has faced criticism for his business practices and extravagant lifestyle, he has also been a prominent philanthropist, donating millions of dollars to charitable causes around the world. Mittal's legacy as a successful entrepreneur and philanthropist will undoubtedly continue to inspire future generations 

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