A window into markets in Asia

LAKSHMI MITTAL SUCCESS STORY: The yacht, house and wedding

0

On a quiet August morning in the sun-drenched port of Monaco, Indian steel tycoon Lakshmi Mittal is arriving for lunch.

The diamond-studded populace of the tiny, yet enormously wealthy country is accustomed to wild displays of opulence, but even they stop to watch as the billionaire’s $125M super yacht is graciously reversed into the docks – its dozen or so crew members being ever so careful to prevent any scarring of the vessel’s immaculate exterior.

Onlookers can achieve no such glimpse inside the boat, but if Lakshmi Mittal’s taste in houses, cars and weddings are anything to go by, they can be assured no expense has been spared.

Lakshmi Mittal
Lakshmi Mittal arriving in Monaco in August 2021. (Source: AsiaMarkets.com)

Lakshmi Mittal Net Worth

Lakshmi Mittal’s net worth is estimated at US$19.2 billion, making him one of the world’s richest men.

The 71 year old studied at St Xavier’s College in Kolkata before amassing his fortune by founding steel company ArcelorMittal, of which he remains Executive Chairman and owns a 38% stake.

According to Bloomberg, the Luxembourg-based company has mining, energy and refining operations in 60 different countries and in 2020 had revenue of $53.3 billion.

In 2005, Forbes listed Mittal as the third richest-person in the world, while in 2015, The Sunday Times named him Business Person of the Year and Time Magazine included him in their Time 100 list.

Lakshmi Mittal’s Houses

Lakshmi Mittal’s house in London’s Kensington Gardens was purchased from Formula One boss Bernie Ecclestone in 2004 for £67 million and is regarded as one of the world’s most expensive homes.

Lakshmi Mittal’s residence 18-19 Kensington Palace Gardens, London. (Source: Wikipedia.com)

The home is said to have 12 bedrooms, Turkish baths and enough space for 20 cars. The building is famous for containing marble from the same quarry as the Taj Mahal.

Mittal also owns a bungalow in one of the most exclusive streets in New Delhi, India, which he purchased for US$30 million.

Lakshmi Mittal’s Daughter’s Wedding

Guinness World Records lists the wedding of Lakshmi Mittal’s daughter Vanisha Mittal and investment banker Amit Bhatia as the most expensive of all time.

The US$55 million forked out for the six-day extravaganza in 2004 is nearly double what was spent on Prince William and wife Catherine’s wedding ($34 million) in 2011.

The guests at the event in Versailles were entertained by world famous performers including Shah Rukh Khan and Kylie Minogue, who was reportedly paid $330,000 to perform for 30 minutes.

The accommodation and travel expenses of all of the 1,000 guests were covered by the Mittal family.

The married couple went on to have three children, but after nearly a decade in wedlock, Amit and Vanisha reportedly divorced, although details were kept private.

Vanisha Mittal and Amit Bhatia lakshmi mittal

Lakshmi Mittal’s Yacht

Lakshmi Mittal’s superyacht ‘Amevi’ was built at the Oceano shipyards in the Netherlands in 2007 and at 80 metres long is one of the largest in the world.

It is said to be worth around $125 million and costs a further $10-$12 million a year to run.

The interior features eight separate sleeping cabins, marble-lined bathrooms and a jacuzzi.

In the northern hemisphere summer of 2021, Mittal was seen holidaying in the yacht in Monaco with his partner and another couple, with the boat staffed by more than a dozen crew members.

Lakshmi Mittal on his ‘Amevi’ Yacht

Philanthropy

Lakshmi Mittal donated $9 million to India’s Olympic efforts after the country won only one medal in both the 2000 and 2004 Olympic Games.

Through the “Mittal Champions Trust,” he supported ten of the most promising Indian athletes and in 2008 was recognised for getting India its first individual Olympic gold medal.

Lakshmi Mittal Quotes

Here are some of inspirational quotes attributed to Lakshmi Mittal:

“Always think outside the box and embrace opportunities that appear, wherever they might be.”

“Everyone experiences tough times, it is a measure of your determination and dedication how you deal with them and how you can come through them.”

“Hard work certainly goes a long way. These days a lot of people work hard, so you have to make sure you work even harder and really dedicate yourself to what you are doing and setting out to achieve.”

Leave A Reply

Your email address will not be published.