India-born Lakshmi Mittal is one of the wealthiest and most powerful men in the United Kingdom. Although he is not a British citizen, he’s been dubbed person of the year by multiple media outlets. Time magazine listed him as one of 2007’s most influential people. Two British publications, The Sunday Times and the Financial Times also named him a person of the year in 2006.
Mittal’s estimated fortune of $16.5 billion comes from being a tycoon of the steel industry. He is the chairman and CEO of ArcelorMittal, the world’s largest steel making company. He is on the executive committee for the World Steel Association. His influence reaches into politics, education and economics. He is a member of the Global Advisory Council for India’s Prime Minister. Mittal is also a member of the World Economic Forum’s International Business Council, the Presidential International Advisory Board of Mozambique, and the Foreign Investment Council in Kazakhstan.
Mittal has been part of the board of directors for Goldman Sachs since 2008. He is also on the board of directors for the European Aeronautic Defense and Space Company. He is on boards for other organizations as well such as Northwestern University’s Kellogg School of Management.
His daughter Vanisha Mittal’s wedding was an extravagant affair. It was the second most expensive wedding in all of history, even more expensive than Prince William and Kate Middleton’s event, but less expensive than Prince Charles and Princess Diana’s. Lakshmi Mittal’s fortune has ebbed and flowed in the since he rose to wealth. In 2008, Mittal was ranked as the third richest person in the world with a net worth of $69.1 billion. In 2011, he was the sixth richest person in the world with a net worth over $26 billion, but the following year he lost $10.4 billion. His wealth and influence was still so vast that Forbes listed him as one of the 70 most powerful individuals in 2012.