Lakshmi Mittal Net Worth (Updated 2026).

Lakshmi Mittal, a name that has become synonymous with the global steel industry, began his career in the family business, Steel Authority of India Limited (SAIL), in the late 1970s. Born into a business family in Rajasthan, India, Mittal’s entrepreneurial journey took flight when he was posted to Indonesia by SAIL, where he saw an opportunity to import steel scrap and sell it at a profit. This small-scale trading operation was the spark that ignited his passion for the steel industry and set the stage for his future success.

In the early 1980s, Mittal, along with his father, established Mittal Steel in India, marking the beginning of his independent venture into the steel business. With a loan from the Indian government, they started producing steel in a small factory in India. Mittal’s strategic thinking and aggressive expansion plans soon led him to Europe, where he acquired struggling steel plants in countries like Trinidad and Tobago, Canada, and the United States. His vision was to create a global steel powerhouse, and by the late 1990s, Mittal Steel had become the largest steelmaker in the world outside of Japan.

**Lakshmi Mittal’s Current Net Worth**

As of 2025, Lakshmi Mittal’s net worth is estimated to be around $12.9 billion, according to Forbes. This makes him one of the wealthiest individuals in the world.

**Career**

Lakshmi Mittal, born in 1950, is an Indian steel magnate. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. Mittal started his career in his father’s steel business in 1976 and later expanded it globally.

**Other Ventures**

Apart from ArcelorMittal, Mittal has investments in various other sectors. He is the co-owner of the Queen Park Rangers Football Club in London. He also has a significant stake in the Formula One racing team, ArcelorMittal Racing.

**Assets**

Mittal’s assets include a luxurious home in Kensington, London, valued at over $110 million. He also owns a private jet and a yacht. His stake in ArcelorMittal is his most valuable asset, worth over $10 billion.

**Annual Income**

As of 2025, Lakshmi Mittal’s annual income is estimated to be around $500 million. This includes his salary from ArcelorMittal and dividends from his investments.

Frequently Asked Questions about  Lakshmi Mittal

Frequently Asked Questions: Lakshmi Mittal Net Worth

1. What is Lakshmi Mittal’s net worth?

Lakshmi Mittal’s net worth is estimated to be around $11.9 billion.

2. How did Lakshmi Mittal make his fortune?

Lakshmi Mittal made his fortune through the steel industry. He is the chairman and CEO of ArcelorMittal, the world’s largest steelmaking company.

3. When was ArcelorMittal founded?

ArcelorMittal was founded in 2006, following the merger of Arcelor and Mittal Steel.

4. Where was Lakshmi Mittal born?

Lakshmi Mittal was born in Sadulpur, Rajasthan, India.

5. When did Lakshmi Mittal move to the UK?

Lakshmi Mittal moved to the UK in 1990.

6. What is Lakshmi Mittal’s educational background?

Lakshmi Mittal holds a Bachelor of Commerce degree from St. Xavier’s College, Kolkata.

7. How many children does Lakshmi Mittal have?

Lakshmi Mittal has two children, Aditya Mittal and Megha Mittal.

8. What is Aditya Mittal’s role in ArcelorMittal?

Aditya Mittal serves as the CEO of ArcelorMittal Europe and is also the CFO of ArcelorMittal.

9. What is Lakshmi Mittal’s philanthropic work like?

Lakshmi Mittal and his family are known for their philanthropic work. They have donated to various causes, including education, healthcare, and disaster relief.

10. What is the Lakshmi Mittal and Family South Asia Institute at Harvard University?

The Lakshmi Mittal and Family South Asia Institute at Harvard University is an interdisciplinary research and teaching center that focuses on South Asia. It was established in 2010 with a $10 million gift from Lakshmi Mittal and his family.