STEEL TYCOON

BY: Shreya Bansal Roll no : 43 3rd semester

Lakshmi Nivas Mittal Always think outside the box and increase the opportunities that appear, wherever they might be

FAMILY BACKGROUND
The extended family of 20 lived on bare concrete floors, slept on rope beds and cooked on an open fire in the brickyard in a house built by his grandfather. He belongs to Marwari aggarwal caste. His grandfather worked for the Tarachand Ghanshyam Das firm, one of the leading Marwari industrial firms of pre-independence India. The family later on moved to Kolkata where his father Mohan Mittal became a partner in a steel company when he was of age 6.


.He split from his father and two younger brothers in 1994 He married Usha, the daughter of a well-to-do money lender and had a son ( Aditya) and daughter ( Vanisha )

 His father Mohan lal mittal set up a small steel mill in kolkata Today, the family business, including a large integrated steel plant near Mumbai, is run by Lakshmi's brothers, Pramod and Vinod, but Lakshmi has no connection with it. His daughter Vanishas $50 million wedding bash is touted as the most expensive wedding of the 20th century

CHILDHOOD
LAKSHMI NARAYAN MITTAL alias LAKSHMI NIVAS MITTAL He was born on 15 june 1950. He was born into a marwari buisness family at sadulpur in churu district of Rajasthan , India. Being the eldest of 5 children , his parents decided to name him Lakshmi after the Hindu goddess of wealth.


He studied in Hindi medium school. He used to play cricket and football on Sunday and allowed to go for a movie once a week. He went to restaurant first time at the age of 14 or 15 in Park Street.

EDUCATIONAL QUALIFICATION
He graduated from St. Xavier's College, Calcutta where he graduated with a Bachelor of Commerce degree in business and accounting with first class in 1976.

Personal life
His residence at 18-19 Kensington Palace Gardens-which was purchased in 2004 for 57 million made it the world's most expensive house at the time. It has 12 bedrooms, an indoor pool, Turkish baths and parking for 20 cars. It is decorated with marble taken from the same quarry that supplied the Tajmahal


In 2005, he also bought a bungalow for $30 million at No. 22, Aurangzeb Road in New Delhi, India, the most exclusive street in the city occupied by embassies and millionaires, and rebuilt it as a house Mittal also owns another London home at 46B, The Bishops Avenue called the Summer Palace

DIFFICULTIES FACED
As he studied in hindi medium school it was difficult for him to make a transition to an english medium college. In the year 1976, Mr Lakshmi Mittal had a difference in his family business, so came out and started the same steel business along with his wife.

CONCEPT IDEA OF BUSINESS

His success has largely been built on buying up loss making steel owned mills and quickly turning them around.

ARCELOR MITTAL
The steel manufacturing industry was started in 1976. His early trade of steel production was to Indonesia.

Arcelor Mittals crude steel production has reached 103.3 millon tonnes in 2008 represented about 10% of global steel output.


With a presence in more than 60 countries , its revenue in year 2009 amounted to US$124.9 billion. Own steel making facilities in 16 countries spanning 4 continents His profit in steel business took him to the list of wealthiest man in the world Mr. Mittal is the 3rd richest man in the world behind Bill Gates and Warren Buffet

AWARD AND HONOR

Year of Award or Honor 2010 2008 2007 2007 2007 Name of Award or Honor "Dostyk" 1 Awarding Organization Republic of Kazakhstan. Forbes. President of India. Government of Spain. Business Council for International Understanding.

Forbes Lifetime Achievement Award

Padma Vibhushan Grand Cross of Civil Merit Dwight D. Eisenhower Global Leadership Award


2007 2004 2004 2004 1996 Fellowship King's College London. European Businessman Forbes. of the Year Entrepreneur of the Year 8th honorary Willy Korf Steel Vision Award Steel Maker of the Year Wall Street Journal. American Metal Market and World Steel Dynamics. New Steel.


L N 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.

L N Mittal is on the advisory board of the Kellogg School Of Management in the US

Why is he famous?
Starting from Ispat Indo in Indonesia , Mittal has become the Steel King of the world . His vision and Hardwork, Mittal has built the moderate buisness of his family into a global steel giant, which spans across many countries. From the core buisness of steel manufacturing ,his group is now diversifying into shipping , coal , power And oil enterprises.

Current status
Mittal is the richest man in India, Asia and the United Kingdom, and second in Europe and is presently the sixth richest individual in the world with a personal wealth of US$31.1 billion.He is the 44th "most powerful person" of the 68 individuals named in Forbes's Most Powerful People list.

Leadership style
A transactional leader: Mittal is a transactional Leader who guides and Motivates his followers in the direction of established goals by clarifying role and task requirements.


The Leader in Mittal A great individual A corporate leader in business Started the trend of mergers around the world A caring family man A complete human being


This is not about creating a giant .its about creating the sustainability of the steel industry.. -Lakshmi Niwas Mittal