Lakshmi Mittal
Lakshmi Mittal
At a Glance
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Age66
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Earnings$ 12.5 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
#6 India Rich List 2016
#8 India Rich List Rank 2015
#5 India Rich List Rank 2014
#2 India Rich List Rank 2013
Profile
After declining for 2 years, the steel baron climbs 2 spots in the rankings as his ArcelorMittal reported net profit of $1.1 billion in a recent quarter, its best in 5 years. The world's biggest steelmaker, which has been buffeted by a global supply glut caused by exports from China, got a reprieve from an uptick in demand and import tariffs on steel imposed by the U.S. and Europe. In 2015 Arcelor saw revenue fall 20% to $64 billion and its net loss rise sevenfold to $7.9 billion. Arcelor, together with Italian steelmaker Marcegaglia, has bid for Italy's lossmaking ILVA steel plant.
