2012 Mining Billionaires: #3 Lakshmi Mittal
#3 Lakshmi Mittal
Last year was not kind Lakshmi Mittal (pictured) and the Indian steel tycoon entered 2012 a full $10 billion poorer.
He is now worth $17.5 billion a according to Bloomberg calculations making him the 21st richest person in the world and the 2nd richest in India, behind Mukesh Ambani, an oil and gas operator.
In 2008 Mittal stood $45 billion strong, when shares in his firm ArcelorMittal, the world's largest public steelmaker with coking coal and iron ore mines around the globe, were hitting highs.
Mittal,61, lives in London and his mansion in Kensington Palace Gardens was bought in 2004 for over $120 million, at the time the most expensive home in the world. He is married with a son and a daughter who are both active in the company children.
Forbes reports that in 2004, Mittal threw his daughter "what is believed to be the most expensive wedding in history, a $60 million, week-long extravaganza for some 1,000 guests in Paris."