Five things you didn’t know about Lakshmi Mittal, Britain's wealthiest citizen

The steel king had a recent spat with François Hollande.

A recent spat with François Hollande has revealed just how much clout is carried by Britain’s wealthiest individual. After Arnaud Montebourg, French Minister for Industrial Recovery, threatened nationalising ArcelorMittal’s French steel furnaces, its owner Lakshmi Mittal went straight to the Elysée Palace to call a meeting with Hollande. The entrepreneur and politician battled out a deal that, by Monday afternoon, revealed Mittal as the winner: his steel plants will not be nationalised. However, this is not the first time Mittal has thrown his industrial might against politics. Here are five other things you may not have known about Lakshmi Mittal:

  1. The Indian born magnate has clashed once before with a French president. During Jacque Chirac’s tenure, Mittal went through with a hostile takeover of the French company, Arcelor, against the President’s wishes. Allegations of xenophobia caused Chirac to later comment: "In principle, we have absolutely nothing against a non-European taking over a European company."    
  2. Hostility with French politicians is balanced with warm relations to the British. A major Labour Party donor, Mittal was accused in 2002 of buying political power. When a Romanian state steel company was being auctioned off, Tony Blair wrote a letter to the Romanian Government in favour of Mittal’s LNM. The letter, when revealed, caused uproar, especially since LNM was not registered in Britain, but in the Dutch Antilles, exempting it from hefty tax.     
  3. Although he only moved to Britain in the 1990s, Mittal is now our wealthiest citizen. His personal $20.7 billion is larger than the GDP of Equatorial Guinea.
  4. The ArcelorMittal Orbit is named after him. The red tower, designed by Anish Kapoor and dubbed the Hubble Bubble by Boris Johnson, was built with his own steel.
  5. After long negotiations, Mittal was the first person granted a private party in the Palace of Versailles. The occasion: the engagement of his daughter, Vanisha, who then moved in next door at 9A Palace Greens, Kensington Garden.
Lakshmi Mittal. Photograph: Getty Images

Oliver Williams is an analyst at WealthInsight and writes for VRL Financial News

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The Daily Mail attacks its own campaign over Guantanamo Bay story

“Utter hypocrisy.”

Fresh from planning the metropolitan liberal revolution, in which he called on Britain to “rise up” against Brexit, everyone’s favourite former Labour Prime Minister Tony Blair has waded into public discourse again. This time, to attack the Daily Mail.

The Mail’s front page story today – headlined “I.S. Suicide Bomber You Paid £1million” – condemns “intense lobbying from Tony Blair’s government” for the release of a British-born Guantanamo detainee called Jamal al-Harith (or Ronald Fiddler, the name he was given at birth) in 2004, who has committed a suicide attack on behalf of Islamic State.

Blair is enraged by the “utter hypocrisy” of the paper – it was the Mail that led a campaign for al-Harith’s release at the time, running an article headlined “Freedom At Last For Guantanamo Britons” when he was freed.

“I would not normally respond to daily stories about events which happened during my time in office but on this occasion I will do so, given the utter hypocrisy with which this story is being covered,” Blair comments in a post on his website.

“It is correct that Jamal al-Harith was released from Guantanamo Bay at the request of the British Government in 2004. This followed a Parliamentary and massive media campaign, led by the Daily Mail, the very paper that is now supposedly so outraged at his release and strongly supported by the then Conservative Opposition.”

He also points out that the Jihadi, who blew himself up in Iraq this week, was paid compensation under the Tory government in 2010.

 

Your mole realises that this story will cause much heartache for its leftier readers – so do address your dilemma by telling us who you side with in this Alien vs. Predator setup:

 

I'm a mole, innit.