Internet News for Lakshmi Narayan Mittal

Lakshmi Narayan Mittal is a billionaire industrialist, born on 15 June 1950 in Sadulpur, in Churu district of Rajasthan, India, and currently residing in Kensington, London, UK. He is currently the 3rd richest man in the world according to Forbes Rich List, with a worth of $25 billion, and is the richest person in Britain. Lakshmi Mittal is also the richest man in the world who does not reside in the U.S. or carry U.S. Citizenship. He is a Citizen of India.

In March 2005, he was reported to be the third wealthiest person in the world by Forbes Magazine (Up from 63nd richest in 2004) and the richest non-American, with estimated wealth of US$25 billion.

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 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. He reportedly paid $54 million to host his daughter's wedding celebration in Versailles in 2004.

He is chairman 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.

He holds steel assets in Romania, Bosnia-Herzegovina, South Africa, Poland, Indonesia, Kazakhstan, the United States and other countries.

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