Biography
Lakshmi Mittal is among the world's most closely watched billionaires from INDIA, with an estimated fortune of $29.8B. The bulk of Lakshmi Mittal's wealth comes from Steel, closely tied to Steel. Lakshmi Mittal is a prominent Indian-born British steel magnate and businessman. As of 2024, his net worth is estimated at $30.5 billion, placing him among the wealthiest individuals globally. His wealth stems primarily from his leadership in the steel industry, most notably as the Executive Chairman of ArcelorMittal, the world's second-largest steel manufacturing company. Born in Sadulpur, Rajasthan, India, Mittal's career began within his family's steel business before he expanded his operations globally. He is known for his strategic acquisitions and consolidation efforts within the steel sector. His achievements include transforming ArcelorMittal into a global powerhouse and his significant contributions to philanthropy, especially in education and child health. Mittal currently resides in Switzerland. Key career milestones include Founded Ispat International (1976); Acquired Iron and Steel Company of Trinidad and Tobago (1989); Mittal Steel merged with Arcelor (2006); Named to the Board of Directors of Goldman Sachs (2008). This profile documents verified holdings, career milestones, and multi-year net worth history drawn from Forbes rankings, company filings where available, and our editorial methodology. Readers use it to understand how public markets, private company stakes, and major business bets shape one of the largest personal fortunes on record. Wealth estimates move with stock prices, funding rounds, and disclosed transactions—figures on this page are research estimates, not cash balances. We publish year-by-year net worth history when verified data exists, link to primary sources, and update profiles when Forbes Real-Time Billionaires or major filings change the picture materially. For investors and researchers, the most useful reading pairs the headline number with ownership structure, geography, sector exposure, and the multi-year history chart on this page—especially during volatile markets when single-day moves can shift rankings without any operational change at the underlying companies.