The Mittal family, originally of Indian descent, has not only taken over the British steel industry, but they’ve done it in a style that rivaled the most legendary European royalty.
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The Indian Family That Owns Britain: The Hindujas: https://www.youtube.com/watch?v=S_W_ZM9pyGw
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The $370 Billion Family That Can’t Stay Out of Jail: The Lees of Samsung: https://www.youtube.com/watch?v=-mwlDnikFYs
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TIMESTAMPS:
0:00 Introduction
2:36 Chapter 1: The Money Mittals
6:08 Chapter 2: Making The Mittals
9:22 Chapter 3: Laksmi Leads The Charge
11:36 Chapter 4: From Rich To Wealthy
15:12 Chapter 5: The Future of The Mittal Dynasty
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The Mittal family’s fortune is nothing short of monumental, akin to a modern financial epic.
Their net worth stands at an impressive £14 billion (around $18 billion USD), anchored by ArcelorMittal, the world’s second-largest steel producer and the largest in Europe.
Valued at £72 billion (approximately $94 billion USD), ArcelorMittal represents a significant slice of the global steel market outside China.
Additionally, the Mittals hold a 41% stake in Aperam, another industrial powerhouse.
Lakshmi Mittal, the family patriarch, boasts a property portfolio valued at over £400 million.
His Kensington residence in London is a paragon of luxury, featuring twelve bedrooms,
Turkish baths, an indoor pool, and marble from the same quarry as the Taj Mahal. Aditya Mittal, the heir apparent, resides in an 11-bedroom mansion on London’s Billionaires’ Row, purchased for £117 million in 2008.
The Mittals’ real estate extends globally, including a £20 million colonial bungalow in New Delhi.
Lakshmi Mittal’s car collection, with nearly twenty vehicles, is a testament to his success, including a Porsche Boxster and a Mercedes-Benz C-Class.
Their RV, the Palace on Wheels, epitomizes mobile luxury with its bedroom, living room, fully functioning bathroom, and even a garage.
Additionally, the Mittal family owns a 360-foot yacht valued at £200 million, with annual running costs of £15 million, and a Gulfstream G550 private jet for seamless global travel.
But how did the Mittal family amass such staggering wealth?
The Mittals are rooted in a tradition of business acumen and entrepreneurial spirit. Lakshmi Mittal, born in Sadulpur on June 15, 1950, emerged during a transformative era for India.
His father, Mohan Lal Mittal, established a steel mill in Kolkata, seizing opportunities in India’s burgeoning economy.
Lakshmi, balancing work at the family mill with his education, graduated with first-class honors from St. Xavier’s College in Kolkata in 1970.
In 1976, he launched Ispat International in Indonesia, navigating restrictive steel quotas in India.
Despite initial challenges, Mittal’s innovative strategies led to profitability.
His focus on acquiring and revamping underperforming plants fueled expansion across multiple countries.
Notable acquisitions included plants in Trinidad and Tobago, Mumbai, Nagpur, Pune, Mexico, Canada, and beyond.
The 2006 acquisition of Arcelor, the world’s largest steel producer, marked a significant milestone, leading to the formation of ArcelorMittal.
Under Mittal’s leadership, the company expanded aggressively, acquiring the Baffinland iron ore mine in Canada, a steel plant in China, and Essar Steel in India.
ArcelorMittal stands as the largest steel producer outside China, producing over 58 million tonnes annually.
However, ethical controversies, including worker safety issues and political scandals, have marred their reputation.
At 74, Lakshmi Mittal is gradually transitioning leadership to his children.
Usha Mittal has championed philanthropic efforts, including establishing the Usha Mittal Institute of Technology in Mumbai.
Aditya Mittal, born on January 22, 1976, has played a crucial role in the family business, leading the transformative merger with Arcelor and engaging in significant philanthropic activities.
His sister, Vanisha Mittal Bhatia, also plays a key role, contributing to Aperam’s growth and strategic decisions.
The Mittal dynasty’s story is a dramatic blend of unparalleled fortune, opulence, and persistent controversy.
Their business prowess and lavish lifestyle shine brightly, yet the family faces ongoing challenges as they navigate the future.
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COMMENT: What is your opinion of the Mittal family’s story?
They are pure evil. They exploit their workers
Next videos on Old Money Indian Families like Tata Family, Wadia Family, Birla Family, Bajaj Family, Ambani Family and political families like Nehru-Gandhi Family.
Investigate and put them on notice get rich get poor
Amazing❤
Sickening …. ostentatious nonsense… andbthe poor get poorer…
These Marwadis do not know what the term philanthropy is… these desert people of Rajasthan are tacky as hell… Louis XV is turning in his grave!
All that money and yet – mind-boggling vulgarity and banality, not to mention the utter lack of any morals or conscience.
Sad, vapid people.
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They built the business off the back of government subsidies, nothing terribly clever about that. The balls to do that is exemplified in their poor corporate standards on health and safety…the core is a germane commodity at the centre of all economies…
He worked hard for his wealth.It didn't land on his plate. Let him enjoy it the way he sees fit !
Great video
Post many videos on Indian riches
Erm hang on ormond st hospital??? What’s the pay 💰 ff here please do tell
Mittal / Metal family 😂
A bit excessive but inspirational nonetheless
The marwadi are known for trading world 🌎 same as gujaratis, eg ambanis and adnai, run business is not easy, if don't move with times then you get left behind, so look at the achievements and think if they didn't buy those business they would have been bankrupt, lot's of good work gone into building the steel business, yes some accidents have taken place, but Kazakhstan accidents was because of the plants was built by the people Kazakhstan 🇰🇿 and didn't have enough time to mordenise the safety aliment of steel plants in Kazakhstan, over British should be proud of clever businessman from India 🇮🇳 are running the business globally and crediting British and Indian names.
Indian's have historical been part of British empire and always running business wherever British or European are ,and being successful apart from few accidents.
Lovely example of Indian success.
Thank you for a diverse coverage of other non-European or American wealthy families. It is nice to mix it up occasionally. Enjoyable content.
Metal of Mittals.
I am afraid ,as india gets richer ,there will be more extravagant wedding in Europe.The British and Europeans generally likes to look down upon others ,especially from third world country.The marwaris are some of the most business minded people in India and recently within the last 59 years globally.
the poetic narration gets me every time
Hi first I am super happy for this man and is family. My opinion is Yahweh-God bless them, maybe they can help me out has will.
Whites cannot accept others prosperity…
Excellent coverage of the dynamic growth of Mittat. Really commendable brilliance ,achievements and strategies 🎉
He don't own nothing in terms of power..click bait..u can't compare a queen to a cockroach 😅
Mittals are great wealth creators and patriotic Indian family with good traditional Hindu values
This Mittals came to Romania in mid 90s and purchased by bribery and corruption the largest steel mill in Eastern Europe from Galați. They briefed all the crooked politicians and decision makers at the time and in the end they purchased a 1.5 billion dollar complex mill , the pride of the steel industry of Romania for merely 50 million dollars.
That’s how they made their fortune.!!!
They purchased in the same way many of the steel mills from Eastern Europe block.
After they signed the agreement of purchase with the Romanian government they depleted the factories forming the mill complex and they did not respected the contract signed to retechnologize the factory and all the pledges they made. There were all broken. They fought the worker sindicate for years. They brought Indian managers and engineers with poor skills and ethics humiliating the locals.
This Mittals are a disgrace to the honest business community.
Nowadays, the factory a shadow of its past and it is barely profitable and the steel derivatives they made are very low quality .
There are just a family of crooks. They have stepped on cadavers !
LM owning a C class. Bro you must be out of your mind. Get your facts right.