Name: Laxmi Nivas Mittal

Age: 55

Country: India

Category: Busisness/Manufacturing

Calling: Steel Baron

The Beginning

Born on 15^th June, 1950 in the Sadulpur village of Rajasthan. His grandfather worked for a leading Marwahri firm. The family eventually moved to Calcutta where his father became a partner in a steel company and made a fortune. Son Laxmi, however, was going to redefine the definition of ‘fortune’ for him as well as the rest of the nation (world). How? Read below

Rise

In 1976 Mittal’s father left India to set up a steel company in Indonesia. Laxmi inherited the international enterprise of his father post-partition. From the very beginning, he was a very big risk-taker buying out loss-making firms in distant countries that his competition was not even confident of running let alone turning into profitable entities. Some of the loss making mills he bought included one in Trinidad and Tobago, another in Mexico, which became the major money-churner for his enterprise. In 1995, Laxmi baffled the Steel Industry by buying out a production unit in Kharmet, Khazakhastan. The former didn’t realize that because of its proximity to China it was never going to fail. After 2000, Mittal bought many of the steel mills in Poland, The Czech Republic, and Romania. With plants in the U.S., Canada, a one-tenth share in the total steel output of the world, and the controversial acquisition of Arcelor, Mittal cemented his status as one of the most powerful men in the World

Power-Play

As of today, Mittal is the third richest man in the world with an approximate net worth of $32 billion. Also admired for the way he fought off huge opposition in the Arcelor deal through his political connections and subtle schemes. However, we at MensXpert being the reckless snobs that we are will give the power-play to his daughter’s wedding. And why not? It is the grandest wedding that has ever taken place with father Mittal coughing up $60 million dollars for his daughter- Vanisha. There was a 20-page invitation sent in silver boxes. I am sure Mittal must have set up a temporary publishing house just as the 1000-guests who were put up in a five-star hotel partied the night away in a temporary castle erected at Parc de Saint-Cloud. Hmmm… we just hope the wedding is a lasting affair and Mittal’s hallowed investment acumen really pays off for his daughter.