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Lakshmi Mittal

According to reports in Gulf News (24 November 2025), Lakshmi Mittal is reported to have moved to Switzerland.

Last updated: .

What was reported

Gulf News, citing The Sunday Times, reported on 24 November 2025 that Lakshmi Mittal was a Swiss tax resident who would spend most of his time in Dubai. The linked coverage runs from 24 November 2025 to 7 October 2026, with the record marked reported.

Background

Lakshmi Mittal is the executive chairman of steel and mining company ArcelorMittal. ArcelorMittal, accessed 25 October 2026. He set up a steel company in Indonesia in 1976 that grew into the group. ArcelorMittal, accessed 25 October 2026. He previously served as chief executive and became executive chairman in February 2021. ArcelorMittal, accessed 25 October 2026.

Timeline

Report dates show when a source published its account. Event dates keep the precision given by that source.

  1. (Report): Gulf News, citing The Sunday Times, reported plans for Mittal to leave the UK and spend most of his time in Dubai. Gulf News, 24 November 2025.

Type
Person
Known for
Steel magnate, executive chairman of ArcelorMittal
Destination
Switzerland
Switzerland (tax residence); reportedly spends much of his time in Dubai
Status
Reported
Basis
Read the source account above
First reported
24 November 2025
Sector
Industry and energy (Steel and mining)
Last checked
25 October 2026

Recorded statement

No direct statement of a reason is recorded.

Wealth estimate

About $40.8 billion

Source: Fortune, 7 Oct 2026 (the article does not name the index), 2026. An estimate is not a tax payment.

Limits and uncertainty

Reports differ: Gulf News (citing The Sunday Times) says he is a Swiss tax resident who will spend most of his time in Dubai.

Sources

Mentioned in

Related

More records linked to Switzerland

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