lakshmi mittal new yacht

The steel billionaire who bought one of the most expensive homes in London and built it with stone from the same quarry as the Taj Mahal has put his 262-foot superyacht up for sale. The Aalto features a Portuguese-style bridge, a stabilized pool table, and a stellar wellness center.

The amazing Aalto superyacht-

For the 74-year-old chairman of ArcelorMittal—the world’s largest steel and mining company by output—life on land is nothing short of opulent, and it’s only fitting that his presence at sea matches this grandeur.

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Ambani's Jets, Mittal's Yachts: Luxurious Rides Of The Ultra-Rich

Who Owns What

Private yachts and customised planes. Check out the travel modes of the jet set that double up as meeting venues, party hangouts and spots to host special occasions. For those Indians — and those with desi roots — who are counted among the world’s wealthy, island hopping in Europe aboard their customised 200-feet yacht or taking off in their bespoke jet across the continent are but a way of putting a monogram on their commute. Take a look at the rides of the jet set:

Lakshmi Mittal’s Amevi

In 2014, this London-based billionaire was spotted relaxing on the Greek island of Mykonos, dressed casually in a white T-shirt and baggy shorts. A newspaper report speculated that while Mittal lounged on the beach alongside other tourists, his 262-feet-long yacht Amevi was parked in the waters nearby. Some amenities on board: Sun decks, a heated swimming pool, a cinema, a gym, a massage room, a hairdressing salon as well as a unique, stabilised pool table to name a few.

Mukesh Ambani’s Boeing Business Jet

More than a decade ago, it was reported that Ambani gifted his wife, Nita, a private jet on her 44th birthday. It was said at the time that this jet was “custom-fitted with an office and a cabin with game consoles, music systems, satellite television and wireless communication. It also has a master bedroom, a bathroom with a range of showers and a bar with mood lighting”. As his personal ride, Ambani reportedly favours a Boeing Business Jet. “Most often, they want access to the same amenities in the air.” That’s how the airplane maker describes their customer’s requirement, a.k.a, a flying home, as that’s what’s wanted.

Ravi Ruia’s Sunrays

“The ultimate guest and owner’s yacht.” That’s how the captain of Sunrays, delivered in March 2010 describes it. According to a description of the yacht available on the Oceanco’s website, “The upper deck is given over to the owner’s suite and an adjacent VIP suite that can be combined to create one expansive living area. Both suites have fold-down sea balconies. The owner’s exterior foredeck hosts a whirlpool and sunbathing area. The remainder of the yacht’s accommodations for up to 16 guests is on the main deck with one VIP stateroom and four guest cabins.” The large dining room can be converted into a video conference room with the optional use of the adjacent library. Foldable sea balconies provide guests unimpeded views while dining.

Kumar Mangalam Birla’s Cessna Citation

A blog published by an apparel brand, owned by the Aditya Birla Group, documented the private jets of India’s rich and famous. The listicle included the jets owned by Birla, the Group’s chairman. It said, “Few people know that this sharp, business-minded entrepreneur also has a sweet tooth, when it comes to sweet flying machines, with his Gulf Stream (G100) and Cessna Citation...It’s believed that Citations are the world’s most established, well-liked and most trusted fleet of business jets. The jet has high-tech design of pilot-friendly flight decks and luxury cabin interiors. Birla is often spotted taking a ride in his luxurious aircrafts.”

Sunil Vaswani’s Platinum

This Dubai-based billionaire’s yacht is apparently a fixture in the Mediterranean and was even spotted at the French Riviera around the time that the Cannes Film Festival was held this year, with others in the list for company. Vaswani, who is considered to be one of the richest Indians in the Gulf Cooperation Council (GCC) countries, was once described as he “who lives on multiple continents and sails the Mediterranean each summer in an all-purpose luxury yacht”. The logo of the Stallion Group, which he heads, adorns the yacht.

Ratan Tata’s Dassault Falcon 2000

Tata’s love for aviation is an open secret. But he is perhaps one of the handful of billionaires in the world who not only owns a private jet, but even flies one. “A lot of people know that Ratan Tata owns a Dassault Falcon 2000 private jet but, what they do not know is that since Tata is a trained pilot, he even flies his own private jet and other jets owned by the Tata group,” said an earlier report.

Reuben Brothers’ Siren

“While watching the boat slowly taking shape in Rendsburg, we suddenly became aware of how seductive and mysterious she seemed. We just knew then that we had to call her SIREN and we are absolutely delighted with the result.” That’s the quote attributed to the owner of the 241 feet-long Siren, on the website of Nobiskrug, the German company that built the yacht. Presumably the owner quoted in question is either David Reuben or his brother Simon. Commonly referred to as the Reuben Brothers, they trace their roots back to Mumbai, and are counted among the UK’s richest individuals. Theirs is an award-winning superyacht with a foldable helicopter platform, that can double up as “a sundeck, a dance floor or a stage”.

Adar Poonawalla’s Gulfstream G550

Earlier this year, this scion became the first Indian to take delivery of a fully customised, ACH145 helicopter by Airbus. While his new ride, with a seating capacity of eight is great for covering relatively shorter distances, his Gulfstream G550 aircraft is reportedly his transportation of choice for long-haul journeys. In an earlier interview, Poonawalla had said, “With a 13-hour range, it (his jet) can take me to anywhere in the world with a single halt.” The report further added, “The plane can also come in handy when he (Poonawalla) craves continental food and in case he wants to fly in Michelin star chefs to cook for his friends and him.”

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The Maldives Is Seeing a Surge in Superyachts. Here’s Why.

Eighteen superyachts linked to ultra-wealthy individuals have been spotted in the island chain since the start of the new year., dana givens, dana givens's most recent stories.

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The Maldives has become a superyacht magnet in the last few weeks. 

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Among the titans spotted in the island paradise, the largest include the 364-foot Alaiya , reportedly owned by Indian steel magnate Lakshmi Mittal; the 295-foot Lauren L belonging to Igor Kolomoisky, one of Ukraine’s wealthiest men; and the 279-foot Bold , owned by German business tycoon Guido Krass.

While the Maldives is a favorite vacation spot of the elite, it has also become a safe haven for superyacht owners  fleeing sanctions  from the ongoing war in Ukraine. After Russia invaded its neighbor, several countries, including the United States, placed sanctions on oligarchs with political ties, causing the wealthy businessmen to move their vessels to neutral territories, where there is little chance of confiscation.

To escape the authorities, many oligarchs have fled to the Maldives and more cosmopolitan, Russian-friendly spots such as Dubai to protect their assets. Russian billionaire Alexey Mordashov’s  vessel Nord   was spotted in the archipelago last November after departing from Hong Kong. 

It’s still too early to say how long the vessels will remain in the area, but as long as the war continues, the country continues to be a refuge for the oligarchs’ superyachts. 

Dana Givens is a former digital staff writer for Robb Report. Before joining the team, she was a seasoned freelancer covering travel and lifestyle topics for outlets such as Business Insider, Fodor's…

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Happy birthday Lakshmi Mittal: A look at how the steel baron's net worth changed between 55 and 72 years of age

In 2005, at age 55, mittal was named the world's third-richest person by forbes. and last month, he clocked in as the sixth wealthiest person in britain in the sunday times uk rich. here's a look at the steel baron's fluctuating fortunes..

Steel baron Lakshmi Niwas Mittal was named the sixth wealthiest person in Britain in the Sunday Times UK Rich list last month.

In 2021, he had bagged the fifth spot on the list. The steel tycoon is said to have added around 2.3 billion pounds to his fortunes in the past year through ArcelorMittal steelworks, PTI reported.

According to Bloomberg Billionaire Index, Mittal’s current net worth is estimated to be $17.8 billion.

As the steel tycoon turns 72 today, June 15, here’s a look at the ups and downs in his fortunes over the past years.

Starting an empire

A majority of Mittal's fortune comes from his 36 percent stake in ArcelorMittal, which was the world's second-biggest steel producer by tonnage in 2020, according to Bloomberg. Mittal serves as the Luxembourg-based company's executive chairman and is its largest shareholder.

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The billionaire was born into an Indian steel family from Rajasthan on June 15, 1950.

Mittal opened his first steel factory in Indonesia at the age of 26 in 1976. In 2004, he created Mittal Steel by combining his publicly-owned Ispat International and closely-held LNM Holdings. The following year, Mittal paid $4.7 billion to buy billionaire Wilbur Ross's International Steel Group.

In 2006, Mittal Steel acquired Luxembourg-based Arcelor to create the world's largest steelmaker.

Wealth growth

In 2005, at the age of 55 years, Mittal was named the world's third-richest person by Forbes. Between 2005 and 2011, Mittal’s wealth grew from $25 billion to $31.1 billion. However, in the next 10 years, he lost half his wealth.

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What led to the fall?

Mittal is famous for his luxurious lifestyle. Mittal has been living in London since 1995 and owns mansions worth at least $350 million in the UK, Bloomberg reported citing purchase records from the UK Land Registry.

In 2004, he spent a whopping 34 million pounds to host his daughter Vanisha’s wedding to Amit Bhatia, a Delhi-born investment banker. Kylie Minogue, Shah Rukh Khan, Juhi Chawla and Saif Ali Khan performed at the extravagant wedding. Javed Akhtar had written a play enacted by the Mittal family on how the couple met.

Mittal also owns a private jet, a couple of yachts and a chauffeur-driven 200,000-pound Daimler Maybach.

Back in business

After suffering a net loss of $733 million in 2020, Arcelor Mittal posted a net income of $15 billion in 2021, buoyed by higher steel prices, Forbes reported.

In January 2021, Mittal ceded the CEO's position in ArcelorMittal to his son, Aditya Mittal. However, he continues to remain its executive chairman.