#82

Lakshmi Mittal

Source of wealth: Steel

75 years Male Metals & Mining 🇮🇳 IN

Net Worth

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Earnings per second

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Biography

Lakshmi Mittal serves as chairman of $61.3 billion (revenue) ArcelorMittal, the world's largest steel and mining company by output.

Hailing from a steel clan, he separated from his siblings to start Mittal Steel then went on to merge the company with France's Arcelor in 2006.

ArcelorMittal reported net income of $3.15 billion in 2025, a 142% rise from $1.3 billion in 2024.

In 2021, Mittal ceded the CEO's position to his son, Aditya Mittal, but retained the title of executive chairman of ArcelorMittal.

A long-time resident of the U.K., Mittal shifted his base to Switzerland following an exodus of the wealthy hit by the U.K.'s new tax regime.

Perspective on their fortune

Gold

Everyday luxury

A Lakshmi Mittal's fortune is equivalent to 200 of gold, but this may be difficult to value, as we don't usually have a handful of gold bars in our piggy bank.

A standard gold ring typically weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18k gold.

Based on today's gold price (not taking into account the jeweler's fee, shipping, or anything else), that gold ring would be worth $556.3

Lakshmi Mittal could buy 53,211,060 gold rings. That's a lot of fingers and a lot of gifts!!

And if the number of rings is difficult to visualize, all these rings would need 10 trucks to transport them, But we can be almost certain that Lakshmi Mittal will have enough left over to pay for the gas for those trucks.

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While billions of people struggle to access basic healthcare, education, and research, a single individual could fund entire national systems for centuries.

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Health

The price of life

Let's compare Lakshmi Mittal's fortune with the healthcare spending of a huge country

Lakshmi Mittal could fund the entire healthcare system of DR Congo with a population of over 105,800,000 of inhabitants for approximately 13.3 years.

But even if we compare their fortune to that of a rich country

At the other extreme, Lakshmi Mittal could cover the health expenditure of Luxembourg, considered the world's most heavily invested health system, for 5.9 years

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Education

Buying the future

Lowest education spending

Lakshmi Mittal could assume the entire cost of the education system of Nigeria, the most populous country in Africa, with more than 243,000,000 inhabitants for 8.7 years.

Highest education spending

But not only could he assume the cost of a poor country, Luxembourg is considered the country with the highest per capita investment in education in the world, Lakshmi Mittal could pay for it in full for 11.8 years.

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Research

The monopoly of progress

Lowest research spending

Lakshmi Mittal could fully fund the state research budget of Pakistan, the fifth most populous country in the world with more than 260,000,000 of inhabitants, for 49.8 years.

Highest research spending

But even if we compare the total wealth of Lakshmi Mittal with Israel, the country that currently invests the most per capita in research in the world, it could assume the total cost of the system for 1.1 years.