Lakshmi Mittal
- Net worth $23.5 billion
- Birthday June 15, 1950
- Status -
- Country India
- Source(-s) of wealth Businessman, Investor
How much is Lakshmi Mittal Worth? Lakshmi Mittal Net Worth in 2026
Lakshmi Mittal’s net worth is estimated at about $23.5 billion as of November 2026. Each $1 move in ArcelorMittal’s share price changes it by about $340 million, because a 2026 filing shows him and his wife tied to 340.2 million shares. The rest of the fortune now includes something no steel mill could offer: an agreed deal for about 75 percent of a cricket team.
| Net worth | About $23.5 billion (estimate, range $17 billion to $26 billion) |
|---|---|
| Estimated annual income | About $204 million in ArcelorMittal dividends to the family trust, at the proposed $0.60 a share |
| Born | June 15, 1950, in Sadulpur, Rajasthan, India, age 76 |
| Country | India |
| Known for | ArcelorMittal, the 2006 Arcelor takeover, Aperam |
| Main income sources | ArcelorMittal shares and dividends, Aperam, Rajasthan Royals |
How much is Lakshmi Mittal worth in 2026?
We put Lakshmi Mittal at $23.5 billion, within a range of $17 billion to $26 billion. About 88 percent of that is one holding, priced at $61.20 a share at the November 2, 2026 close. It is a marked-to-market figure before any tax on a sale, and it treats the couple as one unit, since a Schedule 13D names Lakshmi and Usha Mittal as the settlors and reports them sharing the trust’s shares. The filing doesn’t name the trust’s beneficiaries, and their two children hold small lines of their own, which we leave out.
Public estimates disagree for a dull reason: old stakes linger. His Wikipedia entry still says about 38 percent. The filing shows 44.6 percent, and that gap of 6.6 points is worth about $3.1 billion on a $46.87 billion market value. Others leave out the May 2026 cricket deal or value properties differently.
How Lakshmi Mittal built it
- Started young and far from home. He opened his first steel plant in East Java in 1976, at about 26.
- Bid big for Arcelor. He raised his offer for Arcelor to 25.8 billion euros in May 2006 and won.
- Kept control through a trust. A trust with him and his wife as settlors held 44.6 percent of ArcelorMittal in 2026.
Learn the wealth mindset behind Lakshmi Mittal’s career in the Alux app.
Get the Alux appHow we got to $23.5 billion
| Source | Our estimate | What it rests on |
|---|---|---|
| ArcelorMittal shares | $20.8 billion | 340,178,063 shares at $61.20. The March 2026 Schedule 13D/A shows 339,498,943 in the Platinum Trust, 653,620 held by him and 25,500 by Usha Mittal. |
| Aperam shares | $1.17 billion | 29,513,459 family shares, per MarketScreener, at the €35.36 close before November 3, 2026 and $1.117 to the euro, the early November average on X-Rates. He chairs the company. |
| Rajasthan Royals | $1.24 billion | 75 percent of the $1.65 billion price Reuters reported, at cost. The buyer’s law firm calls the buyer the Mittal family and names him and his son. No split is published. We credit it all here because Reuters says he heads the bid. |
| Homes | $320 million | At past prices, our assumption: £67 million for 18-19 Kensington Palace Gardens in 2004 (about $90 million at $1.339 to the pound), $30 million for a New Delhi bungalow in 2005, and about $200 million for a Dubai mansion that The Sunday Times reported in 2025. |
| Total | $23.5 billion | $20.82 billion + $1.17 billion + $1.24 billion + $0.32 billion, which is $23.55 billion. We round to $23.5 billion. |
The trust that sells when the company buys
On March 5, 2026, ArcelorMittal and Lumen Investments, one of the vehicles holding the family’s shares, signed an agreement that turns buybacks into cash while keeping the family’s percentage level. Each day the steelmaker buys back shares, Lumen sells it enough to match 44.6 percent of the purchases, at the same average price. Settlement is postponed if the trustee would fall below a third of the votes. When the filing was made, no sale had taken place.
The company’s share count has gone from 761.25 million in February to 754.04 million now. If that whole drop came through this programme, our calculation is 7.21 million times 44.6 percent, or about 3.2 million shares, or about $197 million in cash at today’s price. That swaps stock for money without moving the total much, so we left the share count as filed.
Six years of dividends for one cricket team
The company proposed $0.60 a share for 2026, with a first $0.15 paid in March. Our calculation: 339,498,943 trust shares times $0.60 is about $204 million a year. The family’s share of the Royals deal, 75 percent of $1.65 billion, is $1.24 billion, or about six years of that dividend.
That is why the ledger has no cash row. We don’t know how the Royals or the Dubai house were paid for, and giving credit for years of past dividends as well would count the same money twice. We found no public number for debt at the family level.
A $33 billion bid, 20 years later
Mittal opened his first steel plant, in East Java, in 1976, at about 26. Thirty years later he raised his bid for Arcelor to €25.8 billion, or $33 billion, in a hostile takeover that created the company carrying his name. Today the whole of ArcelorMittal trades at $46.87 billion, on first-half 2026 sales of $32.2 billion. That is about 1.4 times what he offered for Arcelor alone in 2006.
What would move the figure
Share price comes first, and the next dated event is the November 13, 2026 ex-dividend date. The Royals deal was expected to close in the third quarter of 2026, and we could not confirm that it has. The ownership fine print matters too. The 13D/A says the trustee holds 70 percent of the Class A voting shares in Grandel, a Singapore company above the holding vehicles, and we read that as control, because the filing still reports all 339.5 million shares as beneficially owned by the couple and the trustee. It doesn’t say who holds the other 30 percent. If the couple’s economic share were only 70 percent, the figure would fall by about $6.2 billion, which is why our range reaches down to $17 billion.
Lakshmi Mittal net worth FAQ
What is Lakshmi Mittal’s net worth?
Our estimate is $23.5 billion as of November 2026, with about 88 percent of it in ArcelorMittal shares.
How much of ArcelorMittal does Lakshmi Mittal own?
A March 2026 filing shows 44.7 percent beneficially owned, nearly all of it through the Platinum Trust, on 761.25 million shares outstanding.
How much did Lakshmi Mittal pay for the Rajasthan Royals?
Reuters reported a $1.65 billion deal in May 2026 with the Mittal family taking about 75 percent, which is about $1.24 billion.
How much does Lakshmi Mittal make in dividends?
At the proposed $0.60 a share, the trust’s 339.5 million shares would earn about $204 million a year.
Where does Lakshmi Mittal live?
The Sunday Times reported in November 2025 that he had left the UK, is tax resident in Switzerland and plans to spend much of his time in Dubai.
Related profiles
How we estimate net worth
Our estimates are based on public reporting, company valuations, and deal and earnings figures all compiled in an internal valuation model. They are approximate, and figures change over time as new information emerges.
Last updated: November 2026.