Lakshmi Mittal began inside his family's steel business, built an international steel operation from Indonesia and consolidated a series of acquisitions into the company that became ArcelorMittal. [1][2][3]
A family-business start
Mittal began his career in his family's steelmaking business in India, where his father had already established a meaningful industrial base. In 1976 he moved to Indonesia to set up a small steel company, giving his later career both a material family-business advantage and a distinct operating path of his own. [1][3]
He expanded by acquiring and restructuring steel assets across multiple countries, eventually separating his interests from those of his siblings. ArcelorMittal credits Mittal with driving industry consolidation and building Ispat International and LNM Holdings into a much larger multinational group. [1][3]
Creating ArcelorMittal
In 2004 Mittal combined Ispat International and LNM Holdings to form Mittal Steel and paired that combination with the acquisition of International Steel Group. Two years later Mittal Steel merged with Arcelor, creating ArcelorMittal and the global platform that became the principal source of the family's steel fortune. [1][2]
Mittal's wealth therefore cannot be reduced either to inheritance or to the headline value of the steel companies he assembled. The starting advantage came from an established family steel operation, while the much larger later fortune was tied to the ownership retained through cross-border acquisitions, restructurings and the creation of ArcelorMittal. [1][3][2]
Sources for background
Sources reviewed Sep 15, 2026.
- Lakshmi N Mittal · ArcelorMittal
- Lakshmi N. Mittal to become Executive Chairman; Aditya Mittal appointed Chief Executive Officer · ArcelorMittal · Feb 11, 2021
- Mittal family · Forbes · Nov 14, 2017
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