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Edit Comment Close Premium member Presentation Transcript Laxmi Niwas MittalThe steel baron : Laxmi Niwas MittalThe steel baron Presented by Sai kishore FPB0709/131 Slide 2: 24 August 2008 shovit CEO & Chairman of Arcelor Mittal Slide 3: 5th Richest person in the world Fortune of US $32 billion according to Forbes Financial Times named Mittal its 2006 person of the year In May 2007 he was named one of the 100 most influencial people by Times group Slide 4: Early years in India Extended & Poor family 20 Lived on bare floors & Slept on rope beds & Cooked on open fire in the brickyard on the house built by his GRANDFATHER Marwari Aggarwal Caste Grandfather worked for Tarachand Ghanshyam Das firm Born : June 15,1950(age 57)Sadulpur, Rajasthan, India Family moved on to Calcutta BACKGROUND Slide 5: Laxmi Mittal Graduated from St Xavier’s College Calcutta Bachelors in Commerce in the year1969 Father Mohan Mittal become a partner in the steel company IN Calcutta Slide 6: 1976 Started working in family’s steel making business in India Founded Mittal Steel Company in India 1994 Split from his father and two younger brothers & took the international arm, with interests in Indonesia and Trinidad and Tobago Since then acquisition was reason for growth of his business Slide 7: Major Acquisitions In the last few years Mittal Steel has made a number of acquisitions, buying up a network of steel producers in former communist countries including Kazakhstan, Romania and Ukraine, and pushing into the U.S. in 2004 with the $4.5 billion purchase of International Steel Group. Today, Mittal Steel is the only truly global steel producer in the world with operations on 14 countries, spanning 4 continents. Mittal pioneered the development of integrated mini-mills and the use of Direct Reduced Iron or “DRI” as a scrap substitute for steelmaking and led the consolidation process of the global steel industry. Mittal Steel is the largest steelmaker in the world, with shipments of 42.1 million tons of steel and profits of over $22 billion in 2004. Slide 8: Personal Wealth In March 2007, Mittal was reported the 5th wealthiest person in the world by Forbes Magazine (up from 61st richest in 2004). The Mittal family owns 44% of Arcelor Mittal, the world's largest steel company. His residence at 18-19 Kensington Palace Gardens was bought from Formula One car racing boss Bernie Ecclestone in 2004 for £57.1 million ($105.7 million), the world's highest price ever paid for a house. Formerly, this house was the residence of Paul Reuter,the founder of the Reuters news service. Slide 9: Mittal has two children. His son, Aditya Mittal, is the CFO of Arcelor Mittal. Aditya Vanisha Laxmi & Usha Mittal Family Slide 10: Mittal's house in Kensington, London is decorated with marble taken from the same quarry that supplied the Taj Mahal. The extravagant show of wealth has been deemed the "Taj Mittal." Recently, Mittal has emerged as a leading contender to buy Barclays Premiership clubs Arsenal,Wigan and Everton, but has so far refused to comment. Slide 12: Mittal paid over £30 million to host his daughter Vanisha's wedding celebration in Vaux le Vicomte on 22 June 2004 and an engagement ceremony at the Palace of Versailles on 20 June 2004, the world's most expensive wedding ever. He even hosted a Bollywood night where superstars like Rani Mukerji, Saif Ali Khan, Shahrukh Khan and Aishwarya Rai performed. Kylie Minogue also sang on stage. Slide 13: Charity After witnessing India won only one medal, bronze, in the 2000 Olympics, and one medal, silver, at the 2004 Olympics, Mittal decided to set up Mittal Champions Trust with U$9 million to support 10 Indian athletes with world-beating potential. For Comic Relief 2007, he matched the money raised (~£1 million) on the celebrity special BBC programme, The Apprentice. Slide 14: Awards 2006 Person of the Year - Financial Times 2004 European Businessman of the Year - Fortune magazine 1998 1998 Willy Korf Steel Vision Award - American Metal Market and PaineWeber’s World Steel Dynamics Steelmaker of the Year - New Steel Slide 15: Size of fortune Slide 16: Mittal is an active philanthropist and a member of a few trusts. Mittal is a member of the Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the World Economic Forum’s International Business Council and the International Iron and Steel Institute’s Executive Committee. He is a Director of ICICI Bank Limited and is on the Advisory Board of the Kellogg School of Management in the U.S. Other Activities Slide 17: Amevi - Lakshmi Mittal's brand new yacht Slide 18: THANK YOU You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.