No. 6 Lakshmi Mittal

Lakshmi Mittal

                                               Net Worth: $31.1 billion (up from $28.7 billion)
                                               Fortune: Inherited and growing

                                               Age: 60

                                               Residence: London, United Kingdom
                                               Country of Citizenship: India

                                               Source: Steel, ArcelorMittal ADS
                                               Education: BA/BS, St Xavier’s College Calcutta
                                               Marital Status: Married 
                                               Children: two

    Lakshmi Mittal  is an Indian steel magnate. He is the chairman and chief executive officer ofArcelorMittal, the world’s largest steel making company. Net profits at his ArcelorMittal, world’s largest steel-maker, are up 18-fold to $2.9 billion in 2010 due to recovery in steel demand and higher margins. 

    Mittal is the second richest man in India, Asia and the United Kingdom, and second in Europe and is presently the sixth richest individual in the worldwith a personal wealth of US$19.2 billion. He is the 44th "most powerful person" of the 68 individuals named in Forbes's Most Powerful People list. His daughter Vanisha Mittal's wedding was the most expensive in the recorded history of the world.

     Mittal is an independent director of Goldman Sachs, member of Board of Directors to Goldman Sachs Media/Film IP Group, member of the Board of Directors of European Aeronautic Defence and Space Company, World Steel Association, Foreign Investment Council in Kazakhstan, the International Investment Council in South Africa, the Investors' Council to the Cabinet of Ministers of Ukraine, the World Economic Forum’s International Business Council, the World Steel Association's Executive Committee, the Presidential International Advisory Board of Mozambique and the International Iron and Steel Institute’s Executive Committee.

    He also presently serves as a board council member of the Prime Minister of India's Global Advisory Council of Overseas Indians. and members in the Advisory Board of the Kellogg School of Management, Executive Board at Indian School of Business and St. Xavier's College, Calcutta Alumni Association, London Chapter.

    Group spun off its stainless steel unit into Aperam, a new listed company, and also acquired Canadian miner Baffinland Iron Mines Corporation. It has funded a 377-foot sculpture called ArcelorMittal Orbit in London’s Olympic Park for the 2012 Olympics. Europe’s richest resident, he bought Alderbrook Park, a 340-acre country estate outside London, where he plans to build an eco-friendly country mansion for a reported $40 million. Daughter Vanisha acquired stake in Roc Capital Management, a New York hedge fund. Daughter-in-law Megha owns German fashion house Escada.