Steel Tycoon Lakshmi Mittal, the 57 year old non resident Indian living in Kensington, London, is the fourth richest person in the world, with a personal fortune of US$45.0 billion according to Forbes magazine. The Financial Times named Lakshmi Mittal its 2006 Person of the Year. This London-based Indian billionaire industrialist, was named one of the "100 most influential people" by Time magazine in May 2007. He was also listed as the richest person in Britain in the Sunday Times Rich list 2005. Since 2005, Mittal has been the richest person residing in the United Kingdom, the richest person in Asia and the 4th richest person on the planet. He is the President of the Board of Directors and CEO of Arcelor Mittal, the world's largest producer of steel. Arcelor Mittal is the combination of the world’s number one and number two steel companies, Arcelor and Mittal Steel.
Lakshmi Narayan Mittal alias Lakshmi Niwas Mittal was born on June 15th, 1950, in Sadulpur, a village which didn't have electricity until 1960's, in Rajasthan, India. His family moved to Calcutta in West Bengal, where he studied accounting and business at the prestigious St. Xavier’s College. His father Mohan Lal Mittal had set up a small steel mill in Calcutta. After class, Mittal used to work in his father's company.
After finishing his Bachelor of Commerce degree in business and accounting with first class, Mittal began his career in his father's steel firm in the early seventies. Realizing the fact that opportunities in India are limited for him, Mittal moved to Indonesia in 1976 and with his father's backing founded a steel plant, Ispat Indo and made the company a success. There began a saga of triumphs for the shrewd businessman.
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