Lakshmi Mittal, a standout CEO among global business leaders: discover why
Net worth: approx. $11 billion
Company: ArcelorMittal
Lakshmi Mittal is a UK-based steel magnate.
He is chairman and CEO of ArcelorMittal, the world’s largest steel company.
He is a member of the Global CEO Council of the Chinese People’s Association for Friendship with Foreign Countries, the Foreign Investment Council of Kazakhstan, the International Business Council of the World Economic Forum, and the European Round Table of Industrialists.
The steel king: a different kind of CEO in an ultra-competitive industry
Historical context often tells us a lot about a person’s strength and vision: due to steel production restrictions imposed by the Indian government in 1976, Mittal opened his first steel plant—PT Ispat Indo in Indonesia—when he was 26 years old.
ArcelorMittal was founded in 2006 following the acquisition of Western European steelmaker Arcelor by Mittal Steel, an international Indian-owned steel manufacturer.
In 2005, he was named Business Person of 2006 by The Sunday Times, Financial Times named him Person of the Year, and Time magazine named him International Newsmaker of the Year 2006. Time also included him among the 100 most influential people in the world in 2007.
Forbes honored Mittal with its Lifetime Achievement Award in 2008.
CEO fact
In 2008, Mittal donated £15 million to Great Ormond Street Hospital in London—the largest private contribution the hospital had ever received.
The donation helped fund its new facility: the Mittal Children’s Medical Centre.
The steel CEO’s impact and other highlights from his bio
These facts make it clear that Lakshmi Mittal is an Indian business leader who has revolutionized the global steel industry.
Throughout his career, he has held key positions at several companies and has been recognized for his strategic vision and leadership skills.
One of the most remarkable aspects of his career is his generous donation to Great Ormond Street Hospital in London.
As previously mentioned, this donation helped finance the construction of the new Mittal Children’s Medical Centre—a state-of-the-art facility providing medical treatment to children and young people in the UK.
Undoubtedly, this gesture reflects his commitment to corporate social responsibility and his concern for the communities where he operates.
In an interview with Forbes magazine, Mittal stated that his business philosophy is based on “giving something to society, not just taking from it.”
Beyond his support for Great Ormond Street Hospital, Mittal has backed various initiatives in multiple countries, including educational and community development projects.
Mittal began his career in the steel industry in India, working for the family business before founding his own company, LNM Group.
In the 1990s, he moved his company to Indonesia and began expanding internationally.
In 2006, LNM Group merged with Arcelor, one of Europe’s leading steel companies, to form ArcelorMittal—the world’s largest steel manufacturer.
As CEO of ArcelorMittal, Mittal has guided the company through a number of challenges and industry shifts.
In 2015, the company faced falling steel prices and growing competition from developing countries.
In response, Mittal implemented several strategies to improve the company’s efficiency and profitability, including cost-cutting and divesting non-strategic assets.
Despite these challenges, Mittal has kept ArcelorMittal at the forefront of the steel industry.
In 2020, the company announced plans to cut carbon emissions and become carbon-neutral by 2050.
Mittal’s career is a clear example of how a business leader can make a significant impact both in their industry and in society at large.
His sense of responsibility and commitment—alongside his strategic vision—make him a standout leader among global CEOs.
The positive difference will surely be the legacy he chooses to leave as both a CEO and as a person.