Lakshmi Mittal, chairman and chief executive of ArcellorMittal, the world's largest steel producing company, has reportedly listed his mansion in the Kensington area of London for a whopping $166 million. However, the listed price is almost $11 million lesser than what Mittal purchased it for.
According to Forbes, Mittal purchased the huge manse in 2008 for $177 million. It was then declared the most expensive home of Britain. He apparently purchased the residence from Noam Gottesman, an Israeli-American financier for his son, Aditya Mittal, who is the chief financial officer at ArcellorMittal.
However, Aditya never lived in the mansion.
The manor is a huge 14,736 square feet property comprising of twelve bedrooms and a large living areas. There is a separate wing in the house that is referred to as "Mrs. Mittal's Dressing Room". The whole upper floor of the house is dedicated to the master-suite. Other amenities include a flower room, a tutorial and homework room, a silver room and an art room. The home also comes with a lot of basement space and has significant expansion permissions too, reports Indian Express.
While Mittal is selling his Kensington mansion, he lives just a few blocks away at "Billionaire's Row" in an $86 million home. He also owns a $106 million building, which served as the former Philippine Embassy in London. It is intended to be a home for his daughter, Vanisha.
Mittal must be in a haste to sell off unused property now as his finances have taken a hit. In 2012, the low demand for steel and the credit crunch had resulted in a $4.09 billion loss for ArcellorMittal.
He also recently shut down two steel blast furnaces in the northeastern town of Florange, France, which even led to the invention of a new shooting game titled "Kill Mittal". The preface of the game reads:
"2030, Mittal has taken hold of, and closed, the majority of steel factories worldwide, tossing out thousands of steelworkers. For these men tired of unfulfilled promises and repeated closures, when all mediation has failed, there is just one solution: Kill Mittal."
Read more on the story, here.
