This is the story of the undisputed king of steel Lakshmi Narayan Mittal – the man who took the reign of his fortune in his own hands and showed the world the power of mulish resolution.
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About Lakshmi Mittal
Lakshmi Narayan Mittal is the Chairman and CEO of ArcelorMittal (founder of Mittal before the merger with Arcelor). Once considered the third richest man in the world according to the Forbes business magazine (2005), Lakshmi opens an interesting chapter in the Indian business diaspora.
With a staggering fortune of over USD 38.1 billion, Mittal is living the ultimate dream.
Lakshmi Mittal Horoscope :
| Date of Birth | 15 June 1950 (age 71 Years) |
| Place of Birth | Churu District, Rajasthan, India |
| Zodiac Sign | Gemini |
| Designation | Chairman & Board of Director of Aperum |
Lakshmi Mittal’s Net worth
As the Executive Chairman of ArcelorMittal, the world’s largest steelmaking company, Mittal has a massive net worth of 1,810 crores USD (as of 2022).
Lakshmi Mittal’s Early life & education
Mittal was born to a Marwari Agarwal family in the Churu district of Rajasthan. He belonged to a joint family and lived in a house built by his grandfather. He did his schooling from a Hindi medium school and graduated from St. Xavier’s College in Calcutta with a Bachelor of Commerce degree in Business and Accounting in 1969.
He then moved to Kolkata where his father, Mohan, became a partner in a steel company.
Lakshmi Narayan Mittal career trajectory
Mittal started his career by working at his family’s steel making business in India. In 1976, he decided to expand the business and started the business international division by buying a run-down plant in Indonesia.
After establishing the Ispat Indo in Indonesia, Mittal went on a success spree. The ambitious 26-year-old young man had transformed a family business into a global steel giant, spanning across 14 countries and employing more than 150,000 people.
In the coming years, Mittal pioneered the development of integrated mini-mills and the use of Direct Reduced Iron or “DRI” as a scrap substitute for steelmaking. Mittal also made his presence known in the European market and acquired the massive 5 million ton Kazakh steel plant, Karmet from the government of Kazakhstan. Between 2004 and 2005, he took over plants in Romania, the Czech Republic and Poland.
By this time, Mittal was regarded as the world’s largest steelmaker.
Mittal VS Arcelor
Mittal beat Arcelor, a multinational steel manufacturing corporation headquartered in Luxembourg City, to the 4.8 billion dollar deal, at more than twice what analysts had valued Kryvorizhstal. The hostile takeover of the company and renamed it, Arcelor Mittal.
Nowadays the company produces about 70 million tonnes of steel a year, making Mittal the unrivalled king of steel.
Lakshmi Mittal’s Personal Life
Lakshmi Mittal married Usha and had 2 offspring namely, Aditya Mittal & Vanisha Mittal. The family lived a life of wealth and opulence. The family residence 18–19 Kensington Palace Gardens—which was purchased from Formula One boss Bernie Ecclestone in 2004 for £67 million (US$128 million) is considered the world’s most expensive house at the time.
Apart from that, Mittal is quite famous for spending millions of dollars on lavish weddings. Apparently, Mittal’s niece’s wedding at Versailles cost up to £50 million.
Lakshmi Mittal’s Awards & accolades
Given his lucrative career, Lakshmi Mittal has been the recipient of several awards. He was honored with the Forbes Lifetime Achievement Award in 2008 and was awarded the European Businessman of the Year award in 2004.
Lessons to be learned from Lakshmi Mittal
Popularly regarded as the ‘Sultan of the Steel Industry’, Mittal has proven his impeccable worth to the entire world. His leadership lessons are most coveted and are a treasure to young entrepreneurs.
That is why eminent business strategist Hirav Shah brings you
Lakshmi Mittal’s 3 leadership lessons:
Tough times are a testament to your determination: Every businessperson is ought to go through tough times eventually. The struggles and hardships aren’t the problems, but important lessons in your entrepreneurial journey. As Mittal says, “Everyone experiences tough times, it is a measure of your determination and dedication how you deal with them and how you can come through them.”
A leader must have a clear head: If you are leading an organization, you are essentially the face of it. People are going to look at you and draw inspiration from you. The moment you falter, the entire organisation will collapse. So it’s very important to keep a level head and understand your objective.
The 3 rules for success: As an entrepreneur, you don’t need to fancy jargon or ‘war strategies’ to keep you ahead in life. You just need these three important attributes, i.e. commitment, dedication and passion.
Conclusion
Everybody has an ambition and everybody wants to get ahead in life. But the real question is, how does one achieve such a far-sighted feat? The answer is unadulterated ambition. When you really want something you give your mind and soul to the singular aim of achieving success. That is how Mittal got ahead in life.
So aim high and sour high, your success is guaranteed- comments business development expert Hirav Shah.
About Hirav Shah
Hirav Shah is an eminent Business Astrologer and Entrepreneur, who can help you reach new levels of success in the coming year. Shah’s unique practice mixes the fundamentals of Astrology with Business Principles, thereby introducing you to a whole new dimension of affluence.
Hirav Shah has an astounding global presence with clients based across various business sectors. He is a big believer in taking massive action, has formulated strategies and made the right strategic bets based on the certainty of outcome to help some of the world’s most renowned brands.
From business setup and expansion to crisis and exit, he can give you a strong Astro based analysis on where to apply leverage and where to cut losses.
Image :Anonymous101 based on work by Ricardo Stuckert, CC BY 2.5 BR, via Wikimedia Commons
