LN Mittal's 93% Jump: How Steel Made the Biggest Gain on India's Rich List

The ArcelorMittal chairman climbed eight places to No. 3, adding ₹1.64 lakh crore in a year.

LN Mittal's 93% Jump: How Steel Made the Biggest Gain on India's Rich List

LN Mittal and family are the biggest movers at the top of the M3M Hurun India Rich List 2026. Their wealth rose 93% to ₹3,39,300 crore, lifting them eight places to third.

The ₹1.64 lakh crore they added is the largest absolute gain on the entire list.

Why steel had a strong year

Hurun's coverage points to two drivers: Europe's steel trade protection and firmer regional steel prices. ArcelorMittal, one of the world's largest steelmakers, has a major European footprint, so both changes worked in its favour.

Metals and mining was one of the list's standout sectors, with wealth up 30% overall.

Policy can move fortunes

Mittal's jump is a reminder that global businesses live with policy risk and policy opportunity. A change in trade rules on another continent can reshape a company's outlook within months.

Leaders who understand policy, and help shape the conversation around it, are better placed to benefit when it shifts.

What business leaders can learn

  • Track policy as closely as markets. Trade rules can matter as much as demand.
  • Stay built for the long cycle. Commodity businesses reward those who survive the downturns.
  • Be visible in policy debates. Industry leaders who speak clearly on trade and regulation become trusted voices.

A single year took Mittal from outside the top 10 to third. For industrial founders, it shows how quickly the tide can turn.

Kayvue helps founders and business leaders build credibility through earned media in India's leading business publications.

Written by

  • Hurun India Rich List
  • LN Mittal
  • ArcelorMittal
  • Steel Industry
  • Global Trade

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