Lakshmi Mittal Net Worth

Lakshmi Mittal has an estimated net worth of $30.4 billion, according to Forbes Real-Time Billionaires, Lakshmi Mittal profile (figures as of October 20, 2026). That is up from $13.6 billion in 2019.

Lakshmi Mittal is an Indian business leader best known as executive chairman of ArcelorMittal, a major steel and mining company. He also serves as chairman of Aperam. His career in steel began after he split from his siblings and built his own business, Mittal Steel. That set up the deal that made him globally prominent: the 2006 merger of Mittal Steel with France's Arcelor. He has also held a board seat at Goldman Sachs since 2008.

His wealth is tied mainly to steel. Mittal owns 38 per cent of ArcelorMittal, and the company is central to how he made his fortune. Earlier in his career, he opened a steel factory in Indonesia in 1976 and later bought steel assets in several countries. Another important step came in 2019, when Arcelor and Nippon Steel completed the $5.9 billion acquisition of Essar Steel. In 2026, he also joined the deal to buy Rajasthan Royals for $1.65 billion.

How Lakshmi Mittal built his fortune

Mittal's money comes mostly from his long stake in steel companies. He opened his first steel factory in Indonesia in 1976, then expanded by buying and improving steel assets in other markets. Over time, he built Mittal Steel into a global business. The turning point came in 2006, when he merged it with Arcelor of France. That created ArcelorMittal, where he is executive chairman and a major shareholder.

ArcelorMittal remains the core of his wealth. Forbes notes that the company brought in $61.3 billion in revenue, and it is one of the world's largest steel and mining companies by output. Mittal owns 38 per cent of the business, which links his fortune closely to its results and market value. In 2025, ArcelorMittal reported net income of $3.15 billion, up 142% from $1.3 billion in 2024. He also added a sports asset in 2026 with Rajasthan Royals.

What moved the Forbes estimate

Forbes has tracked big swings in Mittal's fortune in recent years. It put his net worth at $13.6 billion in 2019, then $7.4 billion in 2020. The estimate later climbed to $17.9 billion in 2022 before easing to $16.4 billion in 2024. Those changes line up with the fact that his wealth is heavily tied to ArcelorMittal, so company performance and the steel market can have a large effect on the number.

The latest figures are much higher. Forbes valued him at $31 billion on its 2026 World's Billionaires List, and the real-time tracker showed $30.4 billion as of October 20, 2026. A stronger profit picture helps explain that jump. Forbes says ArcelorMittal earned $3.15 billion in 2025, after $1.3 billion in 2024. His business interests also widened in 2026, when he agreed to buy Rajasthan Royals with Adar Poonawalla.