Who Owns ArcelorMittal Company?

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Who Owns ArcelorMittal?

Understanding ArcelorMittal's ownership is key to its global influence. The 2006 merger of Mittal Steel and Arcelor created a steel and mining powerhouse. Founded by Lakshmi N. Mittal, the company operates in 60 countries.

ArcelorMittal, headquartered in Luxembourg, is a leading integrated steel and mining entity. In 2024, it reported $62.4 billion in revenue and produced 57.9 million metric tonnes of crude steel.

The ownership structure features a substantial founding family stake alongside public shareholders, influencing its strategic direction.

Exploring ArcelorMittal's ownership reveals its historical evolution and the distribution of voting power. Recent trends continue to shape its path in the global market, impacting sectors like automotive and construction, and influencing analyses such as the ArcelorMittal PESTEL Analysis.

The origins of ArcelorMittal trace back to the entrepreneurial vision of Lakshmi N. Mittal, who established Ispat International in Indonesia in 1976. His strategic approach involved revitalizing underperforming steel facilities worldwide. This foundation was built through significant early acquisitions, including Siderurgica del Balsas in Mexico in 1992, Sidbec-Dosco in Canada in 1994, and Karmet Works in Kazakhstan in 1995.

Lakshmi N. Mittal's Vision

Lakshmi N. Mittal, an Indian steel magnate, founded Ispat International in 1976. His strategy focused on acquiring and improving struggling steel plants globally.

Formation of Mittal Steel

In 2004, Ispat International and LNM Holdings merged to form Mittal Steel Company NV. This entity rapidly ascended to become the world's largest steel producer.

Arcelor's European Roots

Arcelor was established in February 2002 through the consolidation of three major European steel companies: Arbed (Luxembourg, founded 1911), Aceralia (Spain), and Usinor (France).

Pre-Merger Standing

Prior to its merger with Mittal Steel, Arcelor held the position of the world's second-largest steel producer.

Concentrated Early Ownership

The ownership of Mittal Steel was largely concentrated with Lakshmi Mittal and his family during its formative years.

The Landmark Merger

The significant $33 billion acquisition of Arcelor by Mittal Steel in 2006-2007 was a complex transaction. It involved an increased bid and a strategic adjustment of the Mittal family's direct control in the combined entity.

The substantial merger between Mittal Steel and Arcelor, finalized in 2007, created the global steel and mining giant. This pivotal event reshaped the landscape of the industry and established the foundation for the current ownership structure. The Mittal family continues to hold a significant controlling interest in the company, influencing its strategic direction and corporate governance.

ArcelorMittal Ownership Dynamics

The ownership of ArcelorMittal is characterized by a substantial controlling stake held by the Mittal family, stemming from the strategic merger of Mittal Steel and Arcelor. This family's influence is a key aspect of the company's corporate governance and strategic decision-making.

• Lakshmi N. Mittal is the driving force behind the company's formation and growth.
• The Mittal family maintains a significant controlling interest in ArcelorMittal.
• The 2007 merger with Arcelor was a transformative event for ownership structure.
• Understanding the Marketing Strategy of ArcelorMittal provides context for its market position and growth.

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The ownership structure of ArcelorMittal has seen significant shifts since its inception in 2006-2007 through the merger of Mittal Steel and Arcelor. A key aspect of its ownership is the substantial influence wielded by the Mittal family.

Note: Voting rights percentages for some institutional investors may not be separately disclosed or may be aggregated.

The Mittal family, through a trust benefiting Mr. Lakshmi N. Mittal and Mrs. Usha Mittal, holds a commanding 39.81% of ArcelorMittal's issued shares as of July 31, 2025. This stake translates into a significant 44.64% of the total voting rights, underscoring their substantial control over the company's strategic direction and governance. This concentrated ownership allows the Mittal family to exert considerable influence, even as the company actively engages in share buyback programs that can impact the publicly traded float. The family's commitment to their stake has been evident, with reports in May 2024 indicating an increase in their shareholding from 41.5% at the close of 2023 to 44.25% of outstanding shares and voting rights. This demonstrates a consistent reinforcement of their position as the largest shareholder of ArcelorMittal.

Key ArcelorMittal Shareholders

ArcelorMittal's ownership is characterized by a dual structure, featuring significant family control alongside a broad base of public and institutional investors.

• The Mittal family is the largest shareholder, holding a substantial percentage of shares and voting rights.
• ArcelorMittal is publicly traded on major global stock exchanges, making it accessible to a wide range of investors.
• Major institutional investors, such as BlackRock Inc. and The Vanguard Group, Inc., are among the significant public shareholders.
• This ownership structure impacts ArcelorMittal company management and its corporate governance framework.
• Understanding ArcelorMittal stock ownership breakdown is crucial for assessing its financial ownership and who controls ArcelorMittal.

As a publicly traded entity, ArcelorMittal's shares are available on prominent stock exchanges including New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT), and various Spanish exchanges. This public listing means that a considerable portion, 49.37% of issued shares and 55.36% of voting rights as of July 31, 2025, is held by other public shareholders. Among these, institutional investors play a vital role. As of July 31, 2025, BlackRock Inc. stands out as a major institutional holder with 42,609,612 shares, representing 4.99% of issued shares and 5.60% of voting rights. Other key institutional investors with notable stakes around late June or July 2025 include The Vanguard Group, Inc. (2.39%), Pzena Investment Management, Inc. (1.14%), Geode Capital Management, LLC (0.60%), and Charles Schwab Investment Management, Inc. (0.41%). These ArcelorMittal key investors contribute to the diverse ArcelorMittal financial ownership landscape. The company's commitment to its long-term vision is reflected in its Mission, Vision & Core Values of ArcelorMittal, which guides its executive leadership team and overall strategy.

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ArcelorMittal's Board of Directors is structured to ensure robust corporate governance, featuring 10 members with a significant majority of seven independent directors. This composition aims to bring diverse perspectives to the company's strategic direction and oversight.

The voting power within ArcelorMittal is largely influenced by the Mittal family's substantial shareholding. As of July 31, 2025, the family, through a trust, holds 39.81% of the issued shares, translating to 44.64% of the voting rights. This concentration of voting power means that key decisions, including the election of directors and major strategic approvals, are significantly steered by the family's influence, adhering to a general one-share-one-vote principle.

Board Oversight and Shareholder Influence

ArcelorMittal's corporate governance has been a focal point, especially regarding environmental commitments. Shareholder votes at the May 6, 2025, Annual General Meeting approved the re-election of directors, including family representatives. However, activist investors have voiced concerns, urging votes against resolutions related to executive remuneration and board discharge due to the company's climate strategies.

• The Mittal family, through a trust, holds 39.81% of ArcelorMittal's issued shares.
• This stake grants them control over 44.64% of the company's voting rights as of July 31, 2025.
• Lakshmi N. Mittal serves as Executive Chairman, with Aditya Mittal as CEO.
• Vanisha Mittal Bhatia also sits on the board as a Director.
• Shareholder activism highlights ongoing pressure on ArcelorMittal's board regarding ESG matters.

Understanding the Competitors Landscape of ArcelorMittal also involves recognizing the impact of its ownership structure on strategic decisions. The significant voting power held by the Mittal family, as one of the largest ArcelorMittal shareholders, positions them as central figures in the company's management and future direction. This concentrated ownership is a key factor in ArcelorMittal's financial ownership and overall corporate governance, influencing who controls ArcelorMittal and its strategic path forward.

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What Recent Changes Have Shaped ArcelorMittal’s Ownership Landscape?

Recent years have seen ArcelorMittal actively manage its ownership structure through significant share buyback programs, aiming to enhance shareholder value. These actions, alongside leadership transitions, reflect a dynamic approach to capital allocation and corporate governance.

Development	Date/Period	Details
Share Buyback Program Completion	April 1, 2025	Completion of an 85 million share buyback program authorized in May 2023 and continued under April 2024 authorization.
New Share Buyback Program Initiation	April 2, 2025	First tranche of up to 10 million shares, running until May 2030.
Leadership Transition	2021	Lakshmi Mittal transitioned from CEO to Executive Chairman; Aditya Mittal became CEO.
Dividend Recommendation	2025	Board recommended an increase in base annual dividend to $0.55 per share.

ArcelorMittal's financial performance in 2024 included revenues of $62.4 billion, with crude steel production at 57.9 million metric tonnes and iron ore production at 42.4 million tonnes. The company's commitment to returning value to shareholders is evident in its policy to allocate at least 50% of its post-dividend free cash flow towards share repurchases. This strategy, coupled with a recommended dividend increase to $0.55 per share for 2025, underscores a focus on optimizing shareholder returns.

Shareholder Engagement on ESG

Activist investor scrutiny on ESG issues is a growing trend. Shareholder groups have engaged with the company regarding its climate action and decarbonization efforts, influencing discussions at annual general meetings.

Capital Allocation Strategy

The company's ongoing share buyback programs demonstrate a strategy to reduce share capital and return value. This approach aims to optimize capital structure and enhance ArcelorMittal ownership value.

Leadership Succession

The transition of leadership from Lakshmi Mittal to Aditya Mittal signifies a planned succession within the company's management. This ensures continuity in leadership and strategic direction.

Dividend Policy and Growth

The recommended increase in the base annual dividend for 2025 reflects confidence in the company's financial health. This move is intended to reward ArcelorMittal shareholders and attract further investment.

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