Lakshmi Mittal Net Worth: Seventy-five-year-old Indian-origin billionaire Lakshmi Niwas Mittal has stirred headlines after reports emerged of him preparing to leave the United Kingdom. The Rajasthan-born steel tycoon, founder of ArcelorMittal may choose Dubai as his new home, The Sunday Times reported. The report adds that Mittal, who currently resides in Switzerland for tax purposes is planning to leave the UK after three decades.
Globally known as the “King of Steel,” he has amassed great wealth through ArcelorMittal. With an estimated net worth of £15.4 billion (around Rs 1.90 lakh crore), Mittal ranked as UK’s eighth-richest person in this year’s Sunday Times Rich List. He has become the latest billionaire to consider relocating ahead of Chancellor Rachel Reeves’ upcoming budget in which she is expected to announce more tax increases.
Here’s a look at his net worth:
Lakshmi Mittal Net Worth: As of November 24, 2025, Lakshmi Mittal has a real-time net worth of $21.4 billion (Rs 1,77,620 crore), making him the 105th richest person in the world, according to Forbes. As of 2025, Mittal is ranked 12 among India’s richest billionaires. His primary source of wealth is steel. He serves as chairman of ArcelorMittal, the world’s largest steel and mining company by output, which has revenue of $62.4 billion. ArcelorMittal reported net income of $1.3 billion in 2024, recording more than a 40% jump from $919 million in 2023, according to Forbes. Mittal ceded the CEO’s position to his son, Aditya Mittal in 2021.
Mittal had moved to London in 1995 and quickly became one of the most prominent Indian businessmen there. His properties on Kensington Palace Gardens, often called “Billionaires’ Row”, are among the most expensive homes in the UK. His main mansion, known as “Taj Mittal,” was purchased for £57 million in 2004. The home covers 55,000 sq ft and is designed with marble sourced from the same quarry as the Taj Mahal. It includes a ballroom, a jewellery-covered swimming pool, Turkish baths, and parking space for 20 cars.
What Luxuries does Billionaire Lakshmi Mittal own?
Moving further, Mittal’s taste in automobiles is just as extravagant as his real estate. The Billionaire owns a Gulfstream 550 private jet and a 267.5-foot luxury yacht, Amevi, which was built in 2007 for roughly $150 million. His car collection, reportedly features Porsche Boxster, several Rolls-Royces, multiple Mercedes-Benz models, and a range of high-end recreational vehicles. He also owns a lavish vanity van fitted with a kitchen, bedroom, and lounge.
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