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Meet man from a very poor family who slept in rope bed, now rules the steel world, he is...
In this article, we will walk you through the fascinating journey of a man who was raised in a poor Indian family and later came to be recognised as one of the world's top business tycoons.
Updated : Apr 11, 2025, 09:09 PM IST
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Lakshmi Mittal, Chairman of ArcelorMittal, ranks as one of the wealthiest individuals across the globe. With a staggering net worth of around USD 16.3 billion (Rs 1,35,282 crores), he is known as the Indian steel magnet who transformed the steel industry. Let’s delve into his journey further.
Background: Born on June 15, 1950 in Rajasthan’s Sadulpur, He studied at Shri Daulatram Nopany Vidyalaya, Calcutta. Later, he pursued his graduation from St. Xavier's College with a degree in B.Com. Lakshmi's father, Mohanlal Mittal, ran a steel business, Nippon Denro Ispat. Mittal, now counted among the world’s top business tycoons, was raised in a poor family. As per media reports, Mittal’s family lived on bare concrete floors and slept on rope beds. In 1976, because of the curb of steel production by the Indian government, Lakshmi Mittal, then 26, opened his first steel factory PT Ispat Indo in Sidoarjo, Indonesia. In 1989, Mittal also purchased two steel ventures that were running in loss. He later turned them into profitable businesses.
Personal life: Lakshmi Mittal is married to Usha Dalmia. They are parents to a son named Aditya Mittal and a daughter named Vanisha Mittal.
At present, Mittal serves as the executive chairman of ArcelorMittal- the world's second largest steelmaking company as well as chairman of stainless steel manufacturer Aperam. In 2021, Mittal appointed his son, Aditya Mittal as the CEO of the firm. However, he retained the title of executive chairman of ArcelorMittal.
