Mittal vs Alekperov

ArcelorMittal and Lukoil.

The differences

Forbes puts Lakshmi Mittal about $1.2B ahead of Vagit Alekperov.Forbes figures from 9 Oct 2026 and 9 Oct 2026.
Lakshmi Mittal: inherited and grew it. Vagit Alekperov: founded it.
Lakshmi Mittal is from India; Vagit Alekperov is from Russia.

Put someone else on either side

Mittal

Alekperov

Net worth, Forbes: $30.7BForbes, 9 Oct 2026; $29.5BForbes, 9 Oct 2026
Net worth, Bloomberg: $38.4BBloomberg, 17 Oct 2026; $25.5BBloomberg, 8 Oct 2025
Forbes rank: No. 72Real-Time list, 9 Oct 2026; No. 78Real-Time list, 9 Oct 2026
Billionaire since: Not stated; Not stated

How it started: Inherited and grew itStarted in his family's steel business in India, set up Ispat Indo in Indonesia in 1976 and founded Mittal Steel (formerly the LNM Group) in 1989, which merged with Arcelor in 2006. Forbes' 2006 list described his fortune as 'inherited and growing'; Founded itIn 1991 he took three large ministry-controlled oil fields and set up Lukoil
Main source: ArcelorMittal stock, held through a family trustBloomberg: 'The majority of Lakshmi Mittal's fortune is derived from a 44% stake in ArcelorMittal'; Lukoil stock and dividendsBloomberg: most of his fortune is a 28.3% Lukoil stake; he has collected more than $13 billion in dividends
Companies: ArcelorMittal, AperamArcelorMittal: Executive chairman; Aperam: Chairman of the board; LukoilLukoil: Founder; no executive or board role
Biggest stake: ArcelorMittal43.15% owned; Lukoil8.6% owned

Born: 15 Jun 1950Sadulpur, Rajasthan, India; 1950Baku, Azerbaijan
Country: India; RussiaLives in Moscow, Russia
Education: Bachelor's degreeBachelor of commerce, St Xavier's College, Kolkata; Graduate degreeMaster of science in engineering, Azerbaijan Institute of Oil and Chemistry (1974)
Parents: His family moved to Calcutta (Kolkata) in the 1960s, where his father ran a steel mill; he began in the family steel business; Youngest of five children; his father, an oil worker, died when he was 3

Giving Pledge: Not a signer; Not a signer
Foundation: The Lakshmi N Mittal Family FoundationRegistered charity in England and Wales (No. 1146604); Our Future FoundationSet up and financed by him; makes interest-free loans to social enterprises
Lifetime giving: Not stated; Not stated

Role now: Runs the companyExecutive chairman of ArcelorMittal; chairman of Aperam; Founder, no executive roleLukoil shareholder; left the presidency and board in April 2022
Successor: His son Aditya Mittal became ArcelorMittal CEO in 2021; his daughter Vanisha Mittal Bhatia sits on the board; Vadim Vorobyev, first executive vice president, was named temporary president of Lukoil in April 2022
Public office: Member, Prime Minister's Global Advisory Council (India)2009; Soviet deputy minister overseeing the oil industrybefore 1991
Legal record: None found; 2022: UK government; 2025: UK Companies HouseSanctioned by the UK in April 2022; he stepped down as Lukoil president days later. Disqualified from acting as a company director from 9 April 2025 as a person designated under UK sanctions (UK sanctions list reference RUS1334).