Aditya Mittal

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Aditya Mittal
Forum Economico Mundial - 18 01 2016 (31546159464).jpg
Aditya Mittal (L) with Brazil's former Minister of Industry, Foreign Trade and Services Marcos Antônio Pereira in 2017
Born (1976-01-22) 22 January 1976 (age 48)
NationalityIndian
Alma mater Jakarta Intercultural School Wharton School of the University of Pennsylvania
Occupation(s)CEO, ArcelorMittal
Spouse Megha Mittal
Children3
Parent(s) Lakshmi Mittal
Usha Mittal

Aditya Mittal (born 22 January 1976) is an Indian business heir and the CEO of ArcelorMittal [1] [2] which was founded by his father Lakshmi Mittal, who was ranked 21st in the 2012 Forbes list of billionaires. [3]

Contents

Education and career

Born in India and raised in Indonesia, Mittal attended high school at Jakarta International School. He has a bachelor's degree in economics from the Wharton School of the University of Pennsylvania in the US, from which he graduated in 1996. [4]

He worked for a short time in the mergers and acquisitions department at investment bank Credit Suisse First Boston. [5] He joined the family business in 1997 and was appointed Head of Mergers and Acquisitions in 1999, and has been involved in several purchases since then as Mittal Steel has played a major role in the consolidation of the global steel industry. He lives in London. He led Mittal Steel's offer for Arcelor that led to its acquisition and merger with Mittal Steel in 2006. [6] The two companies were merged in 2006, with the merged company being named ArcelorMittal.

In 2009, he was ranked 4th in Fortune Magazine's "40 under 40" [7] list.

In February 2021, he was appointed CEO of ArcelorMittal, succeeding his father. [8] [9]

Appointments

Mittal is a member of the World Economic Forum's Young Global Leaders Forum, the Young President's Organization, a Board Member at the Wharton School, a Board Member at Bennett, Coleman & Co., a Board Member at PPR and a member of Citigroup's International Advisory. [10]

Charitable involvement

Mittal is involved with various charitable organisations, including the NSPCC in the UK. [11]

In 2008, Aditya and Megha Mittal made a donation of £15m to Great Ormond Street Hospital in London, [12] the largest private contribution the hospital had ever received. The donation was used to help fund their new facility, the Mittal Children's Medical Centre. [13] On 17 January 2018, the Duchess of Cambridge officially opened the Mittal Children's Medical Centre at the Great Ormond Street Hospital. [14]

Personal life

Aditya Mittal is married to Megha Mittal, former owner of German fashion company Escada. [15] The pre-wedding event was held at Victoria Memorial, Kolkata, with entertainment from Mallika Sarabhai and Shah Rukh Khan. [16]

He has one sister, Vanisha, who is also a board member of ArcelorMittal.[ citation needed ] He has a son and two daughters.[ citation needed ]

Related Research Articles

Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004. The company was created in 2002 by a merger of the former companies Aceralia (Spain), Usinor (France) and Arbed (Luxembourg). Arcelor is now part of ArcelorMittal after a takeover by Mittal Steel in 2006.

<span class="mw-page-title-main">Dofasco</span> Canadian steel company and subsidiary of ArcelorMittal

ArcelorMittal Dofasco is a steel company based in Hamilton, Ontario, Canada. Dofasco is a standalone subsidiary of ArcelorMittal, the world's largest integrated steel producer.

<span class="mw-page-title-main">Lakshmi Mittal</span> Indian steel magnate

Lakshmi Niwas Mittal is Indian steel magnate, based in the United Kingdom. He is the executive chairman of ArcelorMittal, the world's second largest steelmaking company, as well as chairman of stainless steel manufacturer Aperam. Mittal owns 38% of ArcelorMittal and holds a 3% stake in EFL Championship side Queens Park Rangers.

Mittal Steel Company N.V. was an Indian company and one of the world's largest steel producers by volume and turnover. After a merger in 2005, it is now part of ArcelorMittal.

<span class="mw-page-title-main">Sunil Mittal</span> Indian businessperson

Sunil Bharti Mittal is an Indian billionaire businessman and philanthropist. He is the founder and chairman of Bharti Enterprises, which has diversified interests in telecom, insurance, real estate, education, malls, hospitality, Agri and food besides other ventures. Bharti Airtel, the group's flagship company is one of the world's largest and India's largest telecom company with operations in 18 countries across Asia and Africa with a customer base of over 399 million. Bharti Airtel clocked revenues of over US$18 billion in FY2023. In 2023 he was ranked the 10th richest person in India by Forbes, with an estimated net worth of US$14.8 billion.

<span class="mw-page-title-main">ArcelorMittal Kryvyi Rih</span> Ukraines largest steel company, located in Kryvyi Rih

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<span class="mw-page-title-main">Escada</span> German luxury fashion house

Escada SE is a luxury women's designer clothing company headquartered in Aschheim, Germany. The company is owned by Regent, L.P., an international private equity firm led by investor Michael Reinstein.

<span class="mw-page-title-main">Aceralia</span>

Aceralia was a large Spanish steel producer formed in 1997 by restructuring of a group formed from earlier mergers of the steel producers ENSIDESA and Altos Hornos de Vizcaya. The company merged into Arcelor in 2001, and became part of ArcelorMittal in 2006.

Guy Dollé is a French businessman. He was the CEO of the European steel manufacturer Arcelor until 2006. He was ousted as CEO following Arcelor's merger with Mittal Steel at the end of a protracted takeover contest.

<span class="mw-page-title-main">ArcelorMittal</span> Luxembourgish steel manufacturing corporation

ArcelorMittal S.A. is a Luxembourg-based multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel. ArcelorMittal is the second largest steel producer in the world, with an annual crude steel production of 78 million metric tonnes as of 2022. It is ranked 197th in the 2022 Fortune Global 500 ranking of the world's largest corporations. It employs around 154,000 people and its market capital is $20 billion. The total value of company assets is estimated to be around $94 billion.

<span class="mw-page-title-main">Cleveland-Cliffs</span> Cleveland-based steelmaking company

Cleveland-Cliffs Inc. is an American steel manufacturer based in Cleveland, Ohio. They specialize in the mining, beneficiation, and pelletizing of iron ore, as well as steelmaking, including stamping and tooling. The company was the world's 25th-largest steel producer and the third-largest in the United States in 2022. It is the largest flat-rolled steel producer in North America.

Amit Bhatia is a British-Indian businessman. He is the founding partner of Swordfish Investments and chairman of Queens Park Rangers football club.

Megha Mittal is an Indian fashion entrepreneur. She is the former Chairperson and Managing Director of the German fashion luxury brand Escada.

Essar Steel was a common name of the steel manufacturing companies of the Essar Group of Companies. Its main subsidiary was Essar Steel India Limited, a fully integrated flat carbon steel manufacturer based in Mumbai, which owned and operated a steel mill in Hazira, Surat district of Gujarat state. In addition, it had also a beneficiation plant at Bailadilla, Chhattisgarh, and pellet plants at Visakhapatnam, Andhra Pradesh, and Paradeep, Odisha.

Dr. Bruno Sälzer was the CEO of Escada, the international luxury fashion group. He was born into a solid farming family. He has always been interested in fashion more than fertiliser, and has been quoted in saying, "I can't explain this. There was no one in my family like this. I have checked back several generations." He is the father of four sons.

<span class="mw-page-title-main">Aperam</span> A company that produces stainless steel

Aperam S.A. is a company listed on the Amsterdam, Brussels, Paris, Madrid and Luxembourg stock exchanges and with facilities in Brazil, Belgium and France, which concentrates on the production of stainless steel and speciality steel. It was spun out of ArcelorMittal at the start of 2011; the facilities that became Aperam had about 27% by turnover of the stainless-steel market as of 2009.

Pramod Mittal is an Indian businessman who was the chairman of Ispat Industries Limited.

<span class="mw-page-title-main">Nippon Steel</span> Japanese steelmaker

Nippon Steel Corporation is Japan's largest steelmaker, headquartered in Chiyoda-ku, Tokyo. The company has four business segments, including steelmaking, engineering, chemicals, and system solutions. It is the largest producer of crude steel in Japan and the third largest in the world. The original cooperation was established in 1970 by the merger of Fuji Iron & Steel and Yawata Iron & Steel. The company is on the Forbes Global 2000 list, ranked 1971 in 2023.

<span class="mw-page-title-main">Ilva (company)</span> Italian steel company

Ilva S.p.A. is an Italian steel company in Taranto that for much of the 20th century was Italy's largest steel producer and one of the largest in Europe. In June 2017, Arcelor Mittal became the chief shareholder. In 2020 the company returned to commissioners' management and ownership of the Italian state. On 23 April 2021, capital was infused by the government of Mario Draghi, which took a 38% share and 50% of the voting rights.

References

  1. ↑ "Executive officers". corporate.arcelormittal.com. Retrieved 24 January 2018.
  2. ↑ Bureau, Our (11 February 2021). "Aditya Mittal takes over as CEO of ArcelorMittal". @businessline.
  3. ↑ Forbes profile: Lakshmi Mittal Retrieved 18 July 2012.
  4. ↑ "Meet the man who heads Rs 73,090 crore company, son of India's second-richest mining billionaire". DNA India. Retrieved 29 April 2024.
  5. ↑ Mazumdar, Rakhi (26 June 2006). "Meet the crown prince, Aditya Mittal". The Economic Times. ISSN   0013-0389 . Retrieved 29 April 2024.
  6. ↑ Kelner, Braden (1 July 2007). "Forging the World's Largest Steel Company: Aditya Mittal". Wharton Magazine. Retrieved 29 April 2024.
  7. ↑ "40 Under 40". CNN. 26 March 2010.
  8. ↑ Steer, George (2 February 2021). "ArcelorMittal appoints Aditya Mittal as chief executive". www.ft.com. Archived from the original on 11 February 2021. Retrieved 23 February 2021.
  9. ↑ "Aditya Mittal, New Chairman And CEO Of ArcelorMittal". NDTV.com. 11 February 2021. Retrieved 11 February 2021.
  10. ↑ "Aditya Mittal, Arcelormittal: Profile and Biography". Bloomberg.com. Retrieved 29 April 2024.
  11. ↑ Michielsen, Tom; Gossink, Wessel (5 March 2018). "Mittal junior krijgt promotie bij staalgigant Arcelor". De Tijd . Retrieved 29 April 2024.{{cite news}}: CS1 maint: url-status (link)
  12. ↑ Goodchild, Sophie (4 September 2008). "Mittals' £15m gift to Great Ormond Street is a record". London Evening Standard . Archived from the original on 5 February 2010. Retrieved 15 April 2010.
  13. ↑ "Search Results - Great Ormond Street Hospital". www.ich.ucl.ac.uk. Archived from the original on 16 June 2008. Retrieved 14 July 2018.
  14. ↑ "Duchess of Cambridge opens GOSH ward that Standard readers helped fund". Evening Standard. Retrieved 24 January 2018.
  15. ↑ "Bloomberg-Megha Mittal, Chairman of Escada". 25 December 2018.
  16. ↑ Ghosh, Soumitra (21 December 1998). "Calcutta continues talking about wedding of steel king Lakshmi Mittal's son". India Today. Retrieved 13 May 2019.
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