Lakshmi Mittal's Wealth Rises on Metal Boom, Surpassing IT Sector Decline

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Metal Rally Propels Lakshmi Mittal to Third Richest, IT Tycoons Slip in Rankings

No 7. Lakshmi Mittal | Net worth: $26.7 billion | Lakshmi Mittal is the Executive Chairman of ArcelorMittal, the world’s largest steelmaker. Though based in London, he was born in Rajasthan and has business roots in India, including Maharashtra. His global operations include significant steel interests in the state. (Image: Wikimedia Commons)

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CNBC TV18•10-03-2026, 19:40

Metal Rally Propels Lakshmi Mittal to Third Richest, IT Tycoons Slip in Rankings

•Lakshmi Mittal climbs to 3rd spot among India's richest billionaires, surpassing IT tycoons.
•Metal rally and ArcelorMittal's share surge added over $14 billion to Mittal's wealth, reaching a five-year high.
•IT stocks slump impacts Shiv Nadar, Azim Premji, and Shapoor Mistry, who saw significant wealth declines.
•Nifty IT Index dropped nearly 25% amid concerns about slowing global tech spending and AI disruption.
•Mukesh Ambani's wealth rose by $3.3 billion, while Gautam Adani saw a similar magnitude of decline.

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