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Eigth Spot: Lakshmi Narayan Mittal

Lakshmi Narayan Mittal (also known as Lakshmi Niwas Mittal) is a billionaire industrialist, born on 15 June 1950 in Sadulpur, in Churu district of Rajasthan, India, and currently residing in Kensington Palace Gardens, London, UK. He is currently the 8th richest man in the world, a drop of four places from his 2008 4th spot, with a fortune of $19.3 billion in 2009, a drop of some $25 billion during 2008 but still enough to keep him in the top ten of the world's richest.

Fortune
Business
Country
Status
19.3  Billion
Steel manufacturing
India
Married, 2 children
He is chairman and CEO of the Mittal Steel Company NV, which is the world's largest producer of steel. He was the Fortune European Businessman of the Year for 2004. In 2002 he was embroiled in a political scandal dubbed Mittalgate with British Prime Minister Tony Blair when it was felt that a donation Mittal had made to the United Kingdom Labour Party had led to Blair's intervention (a letter to the Romanian prime minister) in a business deal favouring Mittal. On July 13, 2005 it was announced that he had donated £2 million to the Labour Party.

 

He is the wealthiest person in Britain according to the Sunday Times Rich List 2005. His residence in Kensington, bought in 2003 for £70 million ($128 million) from Formula One car racing boss Bernie Ecclestone, is the most expensive house ever purchased. It is situated in an area known as Billionaire's Row, which is too exclusive for just millionaires. Many people know this residence as the "Taj Mittal". He paid over $60 million to host his daughter's wedding celebration in Versailles in 2004. It is now the most expensive wedding in the world. (wiki)

 


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