Lakshmi Mittal

Lakshmi Mittal, who has a net worth of $17.9 billion, is ranked sixth on the list of the richest people in India in 2022. Arcelor and Nippon Steel bought Essar Steel in 2019, which was formerly owned by billionaires Ravi Ruia and Shashi. Lakshmi Niwas Mittal is an Indian steel magnate who now resides in London, England. He is the Executive Chairman of ArcelorMittal, the world's largest steelmaker, and the Chairman of Aperam, a $53.3 billion stainless steel manufacturer.

He came from a steel family and broke from his siblings to start Mittal Steel, which he eventually merged with Arcelor of France in 2006. In 2020, steel shipments plummeted by about a fifth, resulting in a $700 million loss for the company. In January 2021, Lakshmi Mittal passed over the CEO position to his son, Aditya Mittal, but remained executive chairman.

Net worth: $17.9 Billion

Source of wealth: Steel

City: Solapur