|
Education: St Xavier's College Calcutta,
Bachelor of Arts / Science
Indian immigrant heads world's largest steel
company; ArcelorMittal was formed via hostile
takeover 3 years ago. Stock in company makes up
bulk of his fortune; shares at a 4-year low with
steel prices down 75% since last summer. Company
forced to pay heavy fines after a French
antitrust investigation found 10 companies
guilty of price-fixing in European steel
markets. Arcelor posted $2.6 billion loss in
most recent quarter; announced plans to slow
acquisitions, cut capital expenditures, pay down
debt. Started in family steel business in the
1970s, branched out on his own in 1994.
Initially bought up steel mills on the cheap in
Eastern Europe. Company bought 19.9% stake in
Australia's Macarthur Coal last year. Also owns
pieces of Mumbai's Indiabulls Group, London's
RAB Capital; owns stake in, sits on board of
Goldman Sachs. Holds substantial cash; owns
12-bedroom mansion in London's posh Kensington
neighborhood.
|
