Lakshmi Mittal
Lakshmi Mittal
At a Glance
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Age65
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Earnings$ 11.2 Billion
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Source of earningsSteel
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Marital StatusMarried
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Children2
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ResidenceLondon
Forbes India Lists
#8 India Rich List 2015
#5 India Rich List Rank 2014
#2 India Rich List Rank 2013
Profile
Steel baron, once India's richest person, slipped in the rankings as his ArcelorMittal, the world's biggest steelmaker, got hit by rising imports from China. While it eked out a net profit of $179 million in the latest quarter, Arcelor had reported a net loss of $1.1 billion on revenues of $79.3 billion for 2014 partly as a result of a $621 million writedown of its Chinese steelmaker, China Oriental. The company said it would close down 2 mills in South Africa and is looking to restructure in the U.S. Mittal remains bullish on his home country; in May Arcelor signed a joint venture with state-owned Steel Authority of India to make automotive steel.
