Lakshmi Mittal

About Lakshmi Mittal

Lakshmi Mittal serves as chairman of $68 billion (revenue) ArcelorMittal, the world's largest steel and mining company by output.

Hailing from a steel clan, he separated from his siblings to start Mittal Steel then went on to merge the company with France's Arcelor in 2006.

ArcelorMittal reported net income of $919 million in 2023, a massive drop from $9.3 billion in 2022 after it had to sell its troubled plants in Kazakhstan and Italy at a loss.

In 2019, Arcelor and Nippon Steel completed their $5.9 billion acquisition of Essar Steel, once controlled by billionaires Shashi and Ravi Ruia.

In 2021, Mittal ceded the CEO's position to his son, Aditya Mittal, but retained the title of executive chairman of ArcelorMittal.