Steel King Lakshmi Mittal’s Success Story Will Inspire You

In this series of Success Story, we are going to introduce you to the success story of Laxmi Niwas Mittal, who is also known as Steel King all over the world. Let’s know the story of his life’s successful journey in full detail.

Success Story of Steel King Lakshmi Mittal

Lakshmi Mittal is today the largest Indian-origin steel producer in England and is also the CEO and Chairman of his company ArcelorMittal. He worked day and night to achieve this position. Today he is raising both the honor and respect of all Indians all over India and abroad.

Personal and Early Life Story of Steel King Lakshmi Niwas Mittal

Lakshmi Niwas Mittal was born on 2 September 1950 in the Rajgarh tehsil of Churu district of Rajasthan in India, in Lakshmi family, which was then a joint family of 25 people. His father’s name is Mohan Lal Mittal and his brothers’ name is Pramod Mittal and Vinod Mittal. His family already owned a business called Nipponden Steel. He had settled in Kolkata with his family in his childhood and it was from here that he received his education from Shri Daulatram Nopani Vidyalaya from 1957 to 1964. He then completed his graduation in business and accountancy in commerce from St. Xavier’s College, Kolkata (affiliated to Kolkata University).

Steel king Lakshmi Niwas Mittal’s entry into the industry

After completing his graduation, Lakshmi Niwas Mittal took the Indonesia route in 1976 on the encouragement of the Government of India and at the age of 26, with the help of his father, started his first steel factory ‘P.T. Ispat Indo’ which was established in Sidorojo, Indonesia. In 1989, he bought the state-owned firm Trinidad & Tobago, which was making a daily loss of $1 million at the time. Lakshmi Mittal turned it into a profit. By the year 1990, he had built a sheet steel cold rolling mill in Nagpur and an alloy steel plant near Pune as an asset for the Mittal family in India.

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Lakshmi Niwas Mittal tried to buy Arcelor in 2006, but then CEO Guy Dooley turned down the $24 billion offer. The deal was later settled for $33.5 billion after the stock declined. ArcelorMittal is today the world’s largest steel-making company with a total of 2 lakh 60 thousand employees in 60 countries.

Since 2008, he is also a member of the ‘Board of Directors of Goldman Sachs and the Executive Committee of the World Steel Organization, the Global Advisory Committee to the Prime Minister of India, The Foreign Investment Council of Kazakhstan, and the International Trade Committee. World Economic Forum and the President of Mozambique. He is also a member of the International Advisory Board. He is also a member of the advisory board of the US-based Kellogg’s School of Management and the board of trustees of the Cleveland Clinic. He is also a non-executive director of EADS, ICICI Bank, and investment banking company Goldman Sachs.

ArcelorMittal Company and Queen’s Park Ranger F.C. He holds a 34% stake in it. has a 34% stake in Today the business of the Mittal family includes a huge integrated steel plant near Mumbai, which is run by Vinod and Pramod Mittal, but Lakshmi Niwas has nothing to do with these businesses.

Many social works done for society by Steel King Lakshmi Niwas Mittal

Steel king Lakshmi Niwas Mittal established the ‘Mittal Champions Trust’ in November 2003 to provide financial support and encouragement to talented Indian sportspersons, and through this trust, Abhinav Bindra won the gold medal for India in the year 2008. The prizes were given in the form of crores, in the 2012 London Olympics, his company ‘ArcelorMittal’ built ‘ArcelorMittal Orbit.
In the year 2003, Laxmi Niwas Mittal and Usha Mittal Foundation in collaboration with the Government of Rajasthan launched ‘L.N.M’. established. Established the ‘Institute of Information Technology which is an autonomous and non-profit organization. In 2008, he donated around ¬£1.5 million to the ‘Great Ormond Street Hospital in London to set up a new health facility.

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Other important things related to the life of Steel King Lakshmi Niwas Mittal

  1. Steel King Lakshmi Niwas Mittal was awarded “Business Person of the Year” by The Sunday Times in 2006 and “International Newsmaker of the Year 2006” by Times Magazine in 2006.
  2. In the year 2007, Time magazine placed him in the list of 100 most influential people in the world.
  3. Steel King Lakshmi Niwas Mittal was included in the list of Most Powerful and Influential People in the year 2015 by Forbes.
  4. Steel King Lakshmi Niwas Mittal and his family are today counted among the top richest families in the world.
  5. The marriage of Lakshmi Niwas Mittal’s daughter Vanisha Mittal, which took place in the year 2008, is considered to be the second most expensive wedding ever in the world, in which she gifted a house of around 70 million British pounds in London.
  6. Lakshmi Niwas Mittal never gave up his Indian citizenship even after so much fame, and he could take citizenship of any rich country if he wanted.
  7. Lakshmi Niwas Mittal bought Kensington Palace Gardens from the owner of Formula One in 2004 for approximately US$128 million, which at the time was considered the most expensive house in the world. For the interior of the house, he used the same marble which was done in the Taj Mahal.
  8. Lakshmi Niwas Mittal was awarded the Padma Vibhushan by the Government of India in the year 2008 and has also received many great honors for his industrial and social work.
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