New York: Lakshmi Mittal, the London-based NRI steel tycoon, is being conferred the Forbes Lifetime Achievement Award, the highest recognition of global business success bestowed by the US business magazine for what it calls "a hero of entrepreneurial capitalism".
Mittal is set to get the award on Monday night at Forbes Global CEO Conference 2008, being held in Singapore and expected to be attended by over 400 business leaders. Speakers at the three-day conference include quite a few Indians and NRIs.
Chairman and CEO of ArcelorMittal, Mittal, earlier named by Forbes as the fourth richest man in the world with a net worth of $45 billion, will receive the third Malcolm S Forbes Lifetime Achievement Award from Steve Forbes, chairman-CEO and editor-in-chief of the magazine, known for billionaire lists, the magazine's statement said.
The award is named after Steve Forbes's father, who was the magazine's publisher.
Born in Churu district of Rajasthan, Mittal, who turned 58 on September 2, entered the steel business in 1976.
He later acquired numerous steel companies around the world. Mittal Steel was merged with Arcelor in 2006 to form ArcelorMittal, which became the largest steel company in the world.
Li Ka-shing, the Hong Kong-based Chairman of Cheung Kong Holdings and Hutchison Whampoa, a diversified group, was the winner of the inaugural Forbes Lifetime Achievement Award in 2006.
The Forbes CEO conference this year has the theme: "The Winning Hand". It is scheduled to discuss strategies in dealing with global uncertainties and issues such as the rise of India and China, US presidential polls, real estate, innovation and entrepreneurship.
Billed Indian speakers at the conference include S Gopalakrishnan, CEO and managing director of Infosys Technologies, TCS CEO and managing director S Ramadorai, and Suzlon Energy chairman and managing director Tulsi Tanti.
Singapore's Prime Minister Lee Hsien Loong will deliver the keynote address.
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