Laxmi Niwas Mittal: The Stee L Baro N

LAXMI NIW
AS
S t ee l MITTAL
The
a r o n By
B Rishab Jain
E P -10 ,Ravinder K
umar,Appro
07-S Apporv Jain va singh
, Minal
1
Table Of Content
0 1.Introduction
0 2. Major Acquisitions
0 3.Leadership Style
0 4.As a Legend
0 5.Personality
0 6.Value & Principle
0 7.Contribution In India
0 8.Awards
0 9.Charity
0 10.Family
0 11.Personal Wealth
The Steel Baron

Lakshmi Narayan Mittal
also known as
Lakshmi Niwas Mittal
Early File
15 June 1950 (1950-06-15) (age 60)
Sadulpur ,Churu, Rajasthan,India
The extended
family of 20 lived
Family moved on
on bare concrete
to Kolkata
floors, slept on
rope beds and
cooked on an
open fire in the
brickyard in a
house built by
his grandfather
In kolkata….?
Lakshmi graduated from St. Xavier’s

CollegeMohan
Father in Calcutta where
Mittal he received a
Became
Bachelor of Commerce degree.
partner in the steel company
First Step
Mittal began his career working in the

family’s steelmaking business in India.
MITTAL STEEL
Major Acquisitions
0 In October 2005 Mittal Steel acquired Ukrainian steel

manufacturer Kryvorizhstal for $28.7 billion .
0 Mittal Steel is a global steel producer with operations in 14

countries
0 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.
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.
WHY LN MITTAL IS A BUSINESS LEGEND
0 His success has largely been built on buying up

loss making steel owned mills and quickly and
turning then around, Iscot Steel plant in Trinidad
& Tobago, which was losing $1,00,000 a day.
0 One year of Mittal-style management and it was
making profits, the LN Mittal legend was born
0 Mittal steel is the largest steel maker in the
world with shipments of 42.1 million tons of
steel and profits of over $22 billion in 2004.
CONT…
0 Mittal the world's fifth richest person with
personal wealth of US$28.7 billion. His
wealth has grown by overUS$9 billion
compared to 2009 and is up 3 places in the
Forbes ranking.
0 His residence at 18-19 Kensington Palace
Gardens the world's highest price ever paid
for a house.
The Steel Baron

1. Self efficient
2. Risk bearer
3. Agreeable
4. Openness
5. World citizen without roots
Values & principle
0 “This is not about creating a giant ….its
about creating the sustainability of the
steel industry..”
0 “Always think outside the box and

increase the opportunities that appear,
wherever they might be”
The Steel Baron

Contribution In India
0 The L N Mittal Group (LNM) enter the Indian steel
industry for the past two years through mergers and
acquisitions (M&A).
0 The steel legend announced its intention to acquire

the public sector owned (PSU) Steel Authority of India
Limited (SAIL)
The Steel Baron

Cont…..
0 Mittal Steel has already established a partnership
with the Oil and Natural Gas Corporation Ltd (ONGC)
of India
0 Set up a steel plant similar in size of that agreed with

Posco, South Korea's steel major, in Orissa state, also
in the north-east
The Steel Baron

Awards
2008
Padma Vibhushan
2007 Bessemer Gold Medal
2006
Person of the Year - Financial Times
2004European Businessman of the Year - Fortune maga
1998Willy Korf Steel Vision Award - American Metal M
1998 Steelmaker of the Year - New Steel

Charity
0 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.
0 For Comic Relief 2007, he matched the money raised

(~£1 million) on the celebrity special BBC program, The
Apprentice.
Family
Laxmi & Usha Mittal
Aditya Vanisha
Mittal has two children.
His son, Aditya Mittal, is the CFO of Arcelor Mittal.

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.
Personal Wealth
0 Mittal family owns 44% of Arcelor Mittal, the

worlds largest company.
0 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.
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.“
Amevi- Mittal’s brand
new yacht

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LAXMI NIW

The Steel Baron

Lakshmi graduated from St. Xavier’s

Mittal began his career working in the

0 In October 2005 Mittal Steel acquired Ukrainian steel

0 Mittal Steel is a global steel producer with operations in 14

0 Mittal pioneered the development of integrated mini-mills

0 His success has largely been built on buying up

The Steel Baron

0 “Always think outside the box and

The Steel Baron

0 The steel legend announced its intention to acquire

The Steel Baron

0 Set up a steel plant similar in size of that agreed with

The Steel Baron

1998Willy Korf Steel Vision Award - American Metal M

1998 Steelmaker of the Year - New Steel

0 After witnessing India won only one medal, bronze, in

0 For Comic Relief 2007, he matched the money raised

Laxmi & Usha Mittal

Mittal has two children.

His son, Aditya Mittal, is the CFO of Arcelor Mittal.

0 Mittal family owns 44% of Arcelor Mittal, the

0 His residence at 18-19 Kensington Palace

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