Lakshmi Mittal

Early Life

Lakshmi Niwas Mittal was born on June 15, 1950, in Sadulpur, Rajasthan, India, into a Marwari Hindu family. His father, Mohanlal Mittal, ran a steel business. He attended Shri Daulatram Nopany Vidyalaya in Calcutta from 1957 to 1964 and graduated with a B.Com degree from St. Xavier's College, affiliated with the University of Calcutta.

Rise to Success

Mittal's career began in his family's steel business before he established his own steel factory, PT Ispat Indo, in Indonesia in 1976. He expanded his operations by acquiring and turning around state-owned steel works globally. A significant achievement was the merger of Mittal Steel and Arcelor in 2006, creating ArcelorMittal, the world's largest steel producer.

Key Business Strategies

Mittal's strategies included acquiring underperforming steel plants and improving their efficiency. He focused on global consolidation through mergers and acquisitions. In 2004, Mittal Steel Company was formed after merging its companies, Ispat International and LNM Holdings, and acquiring the U.S. Ohio-based International Steel Group.

Philanthropy

Lakshmi Mittal is involved in funding education and children's health initiatives globally. The Lakshmi Mittal and Family South Asia Institute is supported by the Global Advisory Council at Harvard University. The Mittal family has also made gifts to the Great Ormond Street Hospital and UNICEF.