India's Pride Mr.L.N. Mittal

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India's Pride Mr.L.N. Mittal

Post by rachit on Thu May 01, 2008 8:01 pm

Born: June 15, 1950
Achievement: World's largest steel maker and the third richest
man in the world.

Lakshmi Mittal has become something of a cult figure in the global steel
industry. His company Mittal Steel is the largest steel maker in the
world. After the recent merger between Mittal Steel and Arcelor which
raged a big debate throughout the Europe, Laxmi Mittal current controls
10% of the total steel production and the combined entity that has come
into force post-merger is three times the size of its nearest
competitors.

Lakshmi Niwas Mittal was born on June 15, 1950 at Sadulpur, in Churu
district of Rajasthan, in a poor family. The extended family of 20 lived
on bare concrete floors, slept on rope beds and cooked on an open fire
in the brickyard in a house built by his grandfather. Laxmi Mittal
belongs to Marwari Aggarwal caste and his grandfather worked for the
Tarachand Ghanshyam Das firm, one of the leading Marwari industrial
firms of pre-independence India.

The family later on moved to Kolkata where his father Mohan Mittal
became a partner in a steel company. Lakshmi Mittal graduated from St.
Xaviers in Kolkata with a commerce degree in 1969. He began his career
working in the family's steelmaking business in India and in 1976,
Lakshmi Mittal founded Mittal Steel Company. He split from his father
and two younger brothers in 1994 and took the international arm, with
interests in Indonesia and Trinidad and Tobago, while the rest of the
family kept the domestic Indian business. In the last few years Mittal
Steel has made a number of acquisitions, buying up a network of steel
producers in former communist countries including Kazakhstan, Romania
and Ukraine, and pushing into the U.S. in 2004 with the $4.5 billion
purchase of International Steel Group. Today, Mittal Steel is the only
truly global steel producer in the world with operations on 14
countries, spanning 4 continents.

Lakshmi Mittal is also known for his opulence. In 2003, he acquired the
Kensington mansion, said to be the world's most expensive home, from
Formula One racing's Bernie Ecclestone for 70 million ($128
million). His daughter Vanisha's $50 million wedding bash is touted as
the most expensive wedding of the 20th century.

In March 2006, Lakshmi Mittal was listed as the third wealthiest person
in the world after Bill Gates and Warren Buffet by Forbes Magazine.

rachit

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Re: India's Pride Mr.L.N. Mittal

Post by marshtric on Sat Sep 12, 2009 1:40 pm

He was pur insiration to the youth

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