The World’s Richest CEOs

CNBC
7. Lakshmi Mittal, 61 Company: Arcelor-Mittal  Net worth: $19.1 billion  2011 compensation: $1,739,000   Lakshmi Mittal is the founder and CEO of ArcelorMittal — the world’s largest steelmaker.   The 61-year old steel tycoon founded the company in 1976 as LNM Group, parting ways from his India-based family steel business, which he helped run to venture out on his own. The firm went on to merge with Arcelor in 2006 to form ArcelorMittal.   Mittal is also chairman of the group and his stake in the company is valued at $13.2 billion, according to Wealth-X. His other large assets include homes in London, U.K. valued at about $500 million, while his yacht named “Amevi” is worth $200 million. An avid soccer fan, Mittal also owns a 33 percent stake in English Premier League football club Queen’s Park Rangers.   Other family members involved in ArcelorMittal include his son and heir apparent Aditya (pictured), who is the CFO, while daughter Vanisha is one of 10 board members. Vanisha’s 2004 wedding to Amit Bhatia made headlines for its extravagance and is considered the third most expensive wedding in modern times, costing more than $55 million . The wedding took place at France’s Versailles Palace and the senior Mittal reportedly paid for 1,000 guests to stay one week at five-star hotels in Paris.   Euro zone woes and falling steel demand have hit Mittal and his company hard. The steelmaker made headlines last October when it backed out of a deal with U.S. coal giant Peabody to buy a nearly 60 percent stake in Macarthur Coal for $5 billion. Mittal, in turn, has seen his wealth shrink from $28 billion in 2011 to 19.1 billion, according to Wealth-X.  Photo: Eric Piermont | AFP | Getty Images

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