PRESENTED BY M.JAGADEESWARI. ANAND. PRABAKARAN. BALASUBRAMANIAN.

What Does Lakshmi Mittal Mean?

The chairman and CEO of ArcelorMittal and one of the world's wealthiest billionaires. Mittal is credited with helping to globalize the steel industry's business model.

Investopedia explains Lakshmi Mittal

Mittal's career began by working in his family's steel making business in India, and he has since acquired more than 30 years of experience in steel and related businesses. In 1976 he founded Mittal Steel Company, eventually merging with Arcelor in 2006 to form ArcelorMittal. In addition to his work in the steel industry, Mittal is a philanthropist and is a member of numerous boards and trusts.

FOUNDER:LAKSHMI NIVAS MITTAL

 Born 15 June 1950 (1950-06-15) (age 60) Sadulpur, Rajasthan, India Residence London, United Kingdom Ethnicity Indian Citizenship India Occupation Chairman & CEO of ArcelorMittal

 Net worth US$28.7 billion (2010)[2] Religion Hinduism Children Vanisha Mittal Aditya Mittal

 Mittal is the richest man in Europe[2] and the fifth richest in the world with a personal wealth of US$28.7 billion or 19.3 billion. The Financial Times named Mittal Person of the Year in 2006. In May 2007, he was named one of the "100 Most Influential People" by Time magazine. He is a board council member of the Prime Minister of India's Global Advisory Council of Overseas Indians.

 He serves as a non-executive director of Goldman Sachs, EADS and ICICI Bank and is presently the vice chairman of the World Steel Association. Mittal is a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forums International Business Council and the International Iron and Steel Institutes Executive Committee. He is a member in the Advisory Board of the Kellogg School of Management and is part of St. Xavier's College, Calcutta Alumni Association, London Chapter.

CAREER STARTED PERIOD

Mittal started his career working in the family's steelmaking business in India, and in 1976, when the family founded its own steel business, he set out to establish its international division, beginning with the buying of a run-down plant in Indonesia. Shortly afterwards he married Usha, the daughter of a well-to-do moneylender. In 1976, due to differences with his father, mother and brothers, he branched out on his the LNM Group, and he has been responsible for the development of its businesses ever since. Mittal Steel is a global steel producer with operations in 14 countries.

FAMILY
Lakshmi Mittal's father is Mohan Lal Mittal and his brother is Pramod Mittal.

PHS
Lakshmi Mittal successfully employed Marek Dochnal's consultancy to influence Polish officials in the privatization of PHS steel group, which was Poland's largest. Dochnal was later arrested for bribing Polish officials on behalf of Russian agents in a separate affair.

HONOURS AND AWARDS

2008 : Mr. Mittal has been a director of Goldman Sachs since June 2008. 2007: He was awarded Padma Vibhushan 'second in the hierarchy of civilian awards' by the President of India. 2007: He was awarded Dwight D. Eisenhower Global Leadership Award, Grand Cross of Civil Merit from Spain and "Fellowship from King's College". 2006: He was awarded International Newsmaker of the year by Time Magazine and the "Person of the year 2006" by Financial Times.

 2004: He was awarded by Fortune magazine European Businessman of the Year. 1998: Willy Korf Steel Vision Award - American Metal Market and PaineWebers World Steel Dynamics 1996: Steelmaker of the Year - New Steel 2010: "Dostyk" 1, the highest civilian award of Kazakhstan for his contribution to the development of Republic of Kazakhstan

Lakshmi Mittal wins Forbes Lifetime Achievement Award

New York, Sep 8 (IANS) Lakshmi Mittal, the London-based NRI steel tycoon, is being conferred the Forbes Lifetime Achievement Award, the highest recognition of global business success bestowed by the US business magazine for what it calls a hero of entrepreneurial capitalism. Mittal is set to get the award Monday night at Forbes Global CEO Conference 2008, being held in Singapore and expected to be attended by over 400 business leaders. Speakers at the three-day conference include quite a few Indians and NRIs.

 The steel titan now oversees the world's largest steel company, Mittal Steel. In December 2004 he merged his Ispat International with Ohio-based International Steel Group in a $4 billion (in cash and stock) deal. On Jan 27, Mittal made a $23.7 billion hostile bid for largest rival, Luxembourg-based Arcelor, in an effort to spark more world steel consolidation and enable Mittal Steel to sell higher grade steel to company's like Ford Motor.

CHALLENGES
Man of the Year for the Financial Times,Business Person of 2006 for The Sunday Times, Gewinner 2006 for Die Welt, Newsmaker of the Year for Time magazine Media worldwide agree: Lakshmi Mittal is one of the personalities of last year. Arcelor Mittal headquarters in Luxembourg are one of Europes great temples to business, says The Sunday Times. For this newspaper, Lakshmi Mittal richly deserves to be Business Person of 2006. The Financial Times, Lakshmi Mittal is a truly global person who enjoys a challenge.

ACHEIVEMENTS
Achievement: World's largest steel maker and the third richest man in the world. Lakshmi Mittal has become something of a cult figure in the global steel industry. His company Mittal Steel is the largest steel maker in the world. After the recent merger between Mittal Steel and Arcelor which raged a big debate throughout the Europe, Laxmi Mittal current controls 10% of the total steel production and the combined entity that has come into force post-merger is three times the size of its nearest competitors.

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