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Aditya Mittal

Aditya Mittal is an serving as the of , the world's second-largest producer and a major mining company by production volume, a position he has held since February 2021. As the son of , the company's founder and executive chairman, Aditya has played a pivotal role in its expansion over nearly three decades, including leading major that solidified its global dominance. Mittal graduated magna cum laude with a in economics from the of the in 1996, concentrating in and . He joined the family business, then known as Mittal Steel, in 1997, initially managing the of Ispat International NV, which raised $775 million and was named "Equity Deal of the Year." By 1999, he was promoted to head of , overseeing approximately 50 deals that transformed the company into a major global player. In 2006, at the age of 30, Mittal became and spearheaded the $34 billion of SA, creating and establishing it as the industry leader with about 10% of global production. Prior to his CEO appointment, he served as President and oversaw the flat operations in the and . His leadership has been recognized with awards such as Europe's "European Business Leader of the Future" in 2008 and fourth place on Fortune's "" list in 2011. Additionally, Mittal supports philanthropic initiatives, including funding the Mittal Children’s Medical Centre at and UNICEF's first nationwide child nutrition survey in .

Early Life and Education

Family and Upbringing

Aditya Mittal was born on 22 January 1976 in , , to , a prominent , and his wife Usha Mittal. As the son of a burgeoning entrepreneur, Mittal's early years were shaped by his father's expanding ventures in the global steel sector. Shortly after his birth, the family relocated to , where Lakshmi Mittal had established his first international steel operations in 1976, and Aditya was primarily raised there, primarily in and . This move immersed him in a multicultural from infancy, with the family adapting to dynamics amid his father's postings. Mittal's childhood included frequent visits to his father's steel plant in , which he later described as "fascinating," providing early exposure to industrial processes and the steel industry's operations. These experiences, combined with family discussions on global business strategies, fostered his initial understanding of the sector's challenges and opportunities. He has one , a younger sister named Vanisha Mittal, who would later serve on the board of .

Formal Education

Aditya Mittal completed his secondary education at the Jakarta International School in , an institution known for its international curriculum catering to expatriate students. This experience, shaped by his family's global relocations, provided early exposure to a multicultural environment that would later influence his perspective. Mittal pursued at the of the , where he earned a in Economics in 1996, graduating magna cum laude. His undergraduate studies focused on concentrations in and , areas that emphasized analytical frameworks for business decision-making and financial structuring. Wharton's rigorous curriculum in these disciplines laid a foundational understanding of corporate , valuation, and deal-making, directly aligning with Mittal's subsequent professional emphasis on mergers, acquisitions, and financial oversight in the steel industry. This academic preparation enabled him to apply sophisticated economic principles to complex global transactions early in his career.

Professional Career

Entry into Family Business

Aditya Mittal entered the family business in January 1997, shortly after completing his undergraduate degree in economics from the Wharton School of the University of Pennsylvania and a brief stint in investment banking at Credit Suisse First Boston. He joined Mittal Steel, the core entity of his father Lakshmi Mittal's steel operations, and took on initial roles in finance and management, where he conducted operational and financial analysis within the steel industry. These positions provided him with foundational experience in evaluating the company's production processes, cost structures, and market dynamics in a competitive global sector. One of his earliest significant responsibilities was overseeing the (IPO) of Ispat International, a key subsidiary, on the in the same year, which raised approximately $775 million and enhanced the group's visibility and funding for growth. This hands-on involvement marked his introduction to capital markets and strategic financing in the steel business. In 1999, Mittal was promoted to Head of Mergers and Acquisitions, a role in which he began overseeing early deal evaluations to identify potential opportunities for expansion. During the late 1990s, he contributed directly to international expansion strategies, applying his financial expertise to support the company's moves into emerging markets and optimize cross-border operations.

Key Contributions and Mergers

Aditya Mittal played a pivotal role in the merger between and Mittal , leading the negotiations as and of Mittal Steel that resulted in the creation of , the world's largest producer by volume at the time. He became of in 2006 following the merger and was appointed in 2018. The $33 billion deal combined Mittal Steel's cost-efficient operations with Arcelor's advanced technology and market presence, establishing a global footprint across 60 countries and enabling annual crude production exceeding 100 million tonnes. Mittal oversaw the company's global financial operations amid the global economic downturn triggered by the . Under his leadership, implemented aggressive measures, including a 35% reduction in production output to align with plummeting demand and preserve liquidity, while securing over $11 billion through debt, equity, and asset sales to strengthen the balance sheet. These actions helped the company navigate operating losses of $3.5 billion in the final quarter of 2008 and emerge with a more resilient financial structure. From 2006 to 2020, Mittal directed the oversight of key acquisitions and expansions that bolstered ArcelorMittal's presence in , , and the . Notable deals included the 2007 acquisition of Sicartsa in to enhance North American flat capacity, the 2017 purchase of Ilva in to consolidate European long production, and the 2019 acquisition of in , which expanded Asian operations and added 10 million tonnes of annual capacity. These strategic moves, part of over 50 under his M&A since 1999, diversified supply chains and integrated upstream assets, contributing to revenue from $105.2 billion in 2007 to $70.6 billion in 2019. Mittal's strategic focus on and cost-cutting further positioned for recovery following the . He championed decarbonization initiatives, viewing as the company's top priority, which led to a $10 billion investment plan for green steel technologies and participation in programs like Breakthrough Energy Catalyst to advance low-carbon production. Concurrently, cost-reduction efforts, including a $4 billion " Gains" program targeting operational efficiencies, helped mitigate pandemic impacts by reducing cash costs by 10-15% per and supporting a return to profitability with $14.4 billion in in 2021. These decisions enhanced the company's agility, enabling it to capitalize on post-pandemic demand surges in and automotive sectors.

Leadership as CEO

Aditya Mittal was appointed of in February 2021, succeeding his father , who became Executive Chairman, in a planned generational transition to ensure continuity while infusing fresh strategic vision. This move positioned Mittal, who had previously served as President and , to lead the company through evolving global challenges in the steel industry. Under Mittal's leadership, has emphasized operational efficiency to bolster resilience amid volatile markets, achieving positive price-cost effects that contributed to a 17.7% EBITDA increase to $1.9 billion in the second quarter of 2025 compared to the prior quarter. In the third quarter of 2025, EBITDA was $1.5 billion. He has advanced efforts, including a 2021 strategic collaboration with to optimize IT landscapes and establish a in , enhancing and global synergies. On sustainability, Mittal has driven green steel initiatives through the XCarb® program, which encompasses low- and zero-carbon products, innovation funds for breakthrough technologies, and certificates for Scope 3 emissions reporting, aligning with goals of 35% CO2 reduction in by 2030 and net-zero by 2050. These priorities address global disruptions, including volatility and tensions. Mittal has navigated the post-COVID recovery by focusing on financial strengthening and strategic growth, with gross reduced from $12.3 billion at the end of to $11.4 billion by mid-2021 as the company emerged leaner from the . By 2025, despite a net rise to $8.3 billion due to acquisitions, remained robust at $11 billion, supporting expansions such as full ownership of the AM/NS Calvert facility in and control of Brazilian pipe producer Tuper to target high-value automotive and infrastructure markets. These moves, including a 1.5 million electric commissioning at Calvert, have added potential for $2.1 billion in incremental EBITDA while advancing low-carbon production. Mittal's leadership trajectory was foreshadowed by early recognition, including his sixth-place ranking on Fortune's "" list in 2010 for driving innovation and expansion at , a distinction that highlights his enduring impact on the company's global stature.

Appointments and Affiliations

Corporate Board Roles

Aditya Mittal serves as and a member of the of , the world's second-largest producer, a position he has held since his appointment as CEO in February 2021. In this dual role, he contributes to strategic oversight and governance of the company's global operations across production and related industries. Since December 2010, following 's spin-off from , Mittal has been a on the , providing guidance on the stainless and manufacturer's financial and operational strategies. He also chairs the of , a formed in 2019, where he has led governance efforts to integrate and expand steel production capacity in since December 2019. In the energy sector, Mittal holds the position of Chairman and non-executive director at HPCL-Mittal Energy Limited (HMEL), a joint venture refinery, a role he has occupied since July 2016 to direct its expansion into petrochemicals and refining operations. During the formative years of the family business, he was involved in board governance at LNM Holdings, serving as a board member, President, and Chief Financial Officer of the resulting Mittal Steel Company after its 2004 merger with Ispat International.

Advisory and Trustee Positions

Aditya Mittal holds several influential advisory and trustee roles in global organizations focused on , international leadership, and strategic innovation, leveraging his expertise in the to inform broader discussions on and global markets. These positions underscore his commitment to shaping policy dialogues beyond corporate operations. As a trustee of the , a prominent dedicated to independent research on , , and , Mittal contributes to strategic oversight and discussions on global economic challenges, including and . His involvement supports the institution's efforts to address pressing issues like sustainable growth in emerging markets. Mittal is an alumnus of the World Economic Forum's community, a selective program that identifies and nurtures future leaders to drive positive change in and . Selected in 2005, he participated in initiatives fostering cross-sector collaboration on topics such as and economic . He is also a member of the CEO Council, an invitation-only network of chief executives that convenes to discuss pivotal issues in global , policy, and innovation. Through this forum, Mittal engages with peers on topics like geopolitical risks and technological disruption in industrial sectors. Additionally, Mittal serves on Harvard University's Global Advisory Council, providing guidance on international strategy and fostering connections between and global industry leaders to advance research in and . In his role on the board of , a leading investment firm specializing in and growth-stage companies, Mittal advises on strategic investments that promote innovation in sectors like software and , drawing from his experience in scaling global enterprises.

Investments and Ventures

Business Acquisitions and Deals

Aditya Mittal played a pivotal role in 's acquisition strategies, beginning with his leadership in the transformative 2006 merger between and . As of Mittal Steel, he identified the strategic opportunity and spearheaded the bid, which culminated in a €26.9 billion ($33.6 billion) all-share deal that created the world's largest producer, , with an annual capacity exceeding 100 million tonnes. The negotiations were contentious, involving resistance from Arcelor's management and regulatory hurdles across , but Mittal's persistence secured approval in June 2006, enhancing 's global footprint through integrated operations in , , and emerging markets. Under Mittal's oversight as President and CFO, pursued aggressive expansion in high-growth regions, notably the 2018 acquisition of Limited through 's Insolvency and Bankruptcy Code process. The joint bid with , valued at approximately $5.7 billion upfront plus additional commitments, resolved Essar's debts and granted a 60% stake in the new entity, AM/NS , with a 10 million tonne capacity plant in , . Negotiations spanned over a year amid legal challenges from other bidders and creditors, but approval in November 2019 enabled completion in December, marking 's major entry into and boosting its Asian market share to serve infrastructure demands. Following the deal, Mittal was appointed Chairman of AM/NS , guiding its integration and value creation. Mittal's leadership extended to key joint ventures, particularly the post-2021 expansions of AM/NS , which solidified ArcelorMittal's position in the world's fastest-growing steel market. In October 2022, AM/NS launched a Rs 60,000 ($7.2 billion) greenfield expansion at , aiming to increase capacity from 9 million tonnes to 15 million tonnes per annum, with further phases targeting up to 40 million tonnes by 2035 through advanced low-carbon technologies. As Chairman, Mittal oversaw negotiations with government stakeholders for land and incentives, resulting in phased investments including a new pellet plant and downstream facilities. As of July 2025, AM/NS commissioned a new continuous galvanising line as part of the expansion, progressing towards the 15 million tonnes capacity target and increasing production efficiency. As CEO since 2021, Mittal has emphasized deals that enhance and market dominance, exemplified by the June 2025 acquisition of Nippon Steel's 50% stake in AM/NS Calvert (now Calvert) for approximately $1.3 billion in added net debt. This full-ownership transaction, agreed in October 2024, integrates a 5.3 million U.S. facility focused on electrical steels and low-CO₂ production, including a $1.2 billion NOES plant slated for 2027 operations, strengthening North American competitiveness amid trade tensions. Earlier, in 2024, under Mittal's strategy acquired a 27.5% stake in , a tubular solutions provider, for strategic synergies in sectors, further diversifying streams and supporting long-term global expansion goals as of late 2025.

Personal Investment Portfolio

Aditya Mittal has diversified his personal investments beyond the steel industry, focusing on high-profile assets in , , and to build a balanced . In May 2025, he committed $1 billion to a led by William Chisholm that acquired the NBA franchise for $6.1 billion, securing a significant minority stake and positioning him as vice chairman, co-owner, and alternate governor of the team. This investment marked one of the largest personal commitments by a non-U.S. investor in North American , reflecting Mittal's interest in entertainment and global brand assets. Through the Mittal family office, Mittal holds stakes in various technology and ventures, emphasizing long-term growth in emerging sectors. The has invested in edtech platforms like upGrad, supporting digital education initiatives in and beyond, as part of a broader to back innovative startups. In , these investments include commercial and residential developments, often channeled through structures to capitalize on urban expansion in and . This approach underscores a preference for assets that combine tangible value with scalability. Mittal's board role at further extends his exposure to high-growth areas such as and , where the firm manages investments in portfolio companies like AI-driven software providers and clean energy innovators. His involvement helps guide strategic decisions in these sectors, aligning personal interests with opportunities that prioritize technological disruption and environmental impact. In managing his personal wealth, estimated in the billions as of late 2025 primarily from equity and these diversified holdings, Mittal employs a conservative yet opportunistic , leveraging expertise to mitigate risks while pursuing global opportunities. This portfolio diversification supports his role as an advisor at Iconiq, where he draws on insights from these investments.

Philanthropy

Major Charitable Donations

In 2008, Aditya Mittal, along with his wife , pledged £15 million to (GOSH) in , marking the largest private donation the hospital had received at the time and supporting the redevelopment of pediatric care facilities. This contribution was directed toward enhancing infrastructure for treating children with complex medical conditions, including the construction of specialized wards and treatment areas. The funding from the Mittals played a pivotal role in the establishment of the Mittal Children’s Medical Centre, a state-of-the-art facility at GOSH that officially opened on 17 2018, presided over by the Duchess of Cambridge. The centre, comprising the Clinical Building and the Clinical Building, added 240 beds and expanded the hospital's capacity by nearly 25%, enabling improved care for young patients with rare and severe illnesses. Through this partnership with GOSH, one of Europe's largest pediatric cancer centers treating approximately one in ten children diagnosed with cancer in the UK annually, Mittal's support has extended to programs in and treatment, including advancements in detecting and personalized therapies for and solid tumors. As of 2024, the Mittal Foundation's ongoing commitments to GOSH support the hospital's expanded services, which treat over 270,000 young patients annually, with the new centre facilitating enhanced outcomes for thousands in critical areas like and intensive care. In 2024, the Mittal Foundation continued its support to GOSH, contributing to child health programs.

Involvement in Organizations

Aditya Mittal has been engaged in initiatives since 2008, participating in awareness events and supporting campaigns aimed at safeguarding and well-being. Along with his wife Megha, he has supported efforts, including attending fundraising events such as the 2011 Surrealist Ball. Mittal has collaborated extensively with international non-governmental organizations (NGOs), particularly , to enhance and access in developing regions such as . Their partnership funded the Comprehensive National Nutrition Survey (CNNS), the first nationwide assessment of child nutrition, which provided critical data to inform government policies on child and protection. Mittal has collaborated with on child welfare initiatives.

Personal Life

Marriage and Family

Aditya Mittal is married to , a businesswoman and fashion entrepreneur best known for acquiring and revitalizing the German luxury brand in 2009. The couple met as students at the of the and share a commitment to , particularly in child health initiatives. Mittal and his wife have three children—two daughters born in the late 2000s and a son born in 2018 via . The family resides in and places a strong emphasis on , with few public details available about the children's names, education, or personal activities. Reflecting the Mittals' deep ties to the family steel empire, Aditya's sister, Vanisha Mittal Bhatia, serves as a non-independent director on the ArcelorMittal board, contributing to strategic oversight since 2004.

Lifestyle and Interests

Aditya Mittal maintains his primary residence in London with his family. The Mittal family owns several luxurious properties on Kensington Palace Gardens, known as Billionaires' Row, including one acquired by his father Lakshmi Mittal for £117 million in 2008 (equivalent to about $230 million USD at the time), which featured 12 bedrooms, indoor pools, and Turkish baths, and was one of the world's most expensive private homes at the time. This property, featuring 12 bedrooms, indoor pools, and Turkish baths, underscores his affluent UK-based lifestyle, complemented by additional family holdings on the same prestigious street known as Billionaires' Row. His global lifestyle reflects an international upbringing, beginning with birth in Kolkata, India, in 1976, followed by relocation to Indonesia as an infant, where he attended Surabaya International School until age 13, before moving to the United States for an economics degree at the University of Pennsylvania's Wharton School. This peripatetic early life, involving residences near steel plants in Indonesia, has fostered a worldly perspective, with ongoing transatlantic ties evident in his US business engagements. Mittal's interests include sports, particularly , as demonstrated by his status as an enthusiastic fan and minority owner of the following a $1 billion personal investment in the team's 2025 acquisition. He has also engaged with the arts, attending a 2022 private event at London's Serpentine Gallery to honor artists alongside philanthropists and supporters. These pursuits align with a balanced personal routine that incorporates family time amid his demanding global schedule.

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