Posts Tagged ‘Lakshmi Mittal’
Vanisha Mittal is the daughter of the fifth richest man on the planet, Lakshmi N. Mittal. In 2007, proud father Mittal sent out 20-page invites in a silver box for Vanisha’s wedding to financier Amit Bhatia. The groom too, was nothing to sneeze at with a personal fortune running into millions. At the time, the shindig was considered the most expensive wedding in the world with a current price tag of $78 million. Guests came from all over the world to enjoy the luxurious food, glamorous location, and extravagance. The wedding was spread out over almost a week and it was beautiful.
Unfortunately, it’s hardly been ten years and the marriage seems to be on the rocks. With three children in the marriage, Vanisha seems to be tired of the long hours being put in by her financier husband. In 2014, Vanisha filed for divorce. According to sources in London, Mittal has clamped down on all publicity surrounding the divorce proceedings and very little has managed to percolate down to the masses. In London’s social circles, the Vanisha Mittal Bhatia divorce is the current buzz but even locals seem to know very little about what precipitated the divorce. Nothing is even known about whether the divorce is in process or whether it has concluded. Friends in the know state that custody and care of the children could also be one of the reasons why the divorce is so hush-hush and lengthy.
Another factor to be considered is the personal income of each of the divorcing parties. Considering the personal income of each group in the divorce its simple to say that the financial proceedings alone could several years to complete. This is because Vanisha Mittal has been ranked as the number one billionaire heiress in the world. Amit too, is nowhere near the poverty line with a personal fortune ranging in the high millions. With a marriage that cost 55 million euros ($60 million at the time), it’s only simple to say that this could be the most expensive and furiously fought divorces in the world.
The Chairman of the biggest steel maker in the world, Lakshmi Mittal, took a pay cut last year due to declining profit in his company, Arcelor Mittal. One of the richest men in Indian, Mittal is known for his famous daughter in addition to being the CEO or ArcelorMittal. He and his wife, Usha, own almost 40% of the stock in the company.
He had his salary and perks decline 38% year over year. In 2013 he made $2.29 million, not a bad amount but a significant cut from the $3.71 million he earned the year before.
All other board members of the company had their pay increase during the year, even though the company posted a loss of $2.5 billion for the year. This was quite a disappointing report from the steel giant and the second consecutive year of loses. Mittal is the highest paid member of the board and the only one that also holds an executive position in the operation. His daughter Vanisha Mittal Bhatia, whose marriage has been rumored to be on the rocks, got a pay increase for her time on the board.
Weddings are expensive, there’s no doubt about it. From booking the venue right through to buying party favours, you can be certain of one thing… that you’re going to spend money – and lots of it!
For us humble mere mortals, we want to spend a modest penny that affords us the perfect day without sending us spiralling into debt. But what if you had the budget of let’s say, a celebrity? How lavish would you go? Here we take a look at some of the most incredible weddings only a superstar budget could afford…
Amit Bhatia and Vanisha Mittal
Amit – an investor banker from London – married Vanisha, daughter of Lakshmi Mittal (the owner of the largest steel company in the world), on June 22, 2004. One thousand guests received a 20 page silver book inviting them to the wedding which would be catered for by 45 chefs preparing 100 different dishes.
And the cost of such an A-star celebration? A cool £49 million!
Prince William and Catherine Middleton
The Royal Wedding was televised around the globe and was one of the most celebrated events of this century. On April 29th 2011, the world watched as Prince William married Kate Middleton in Westminster Abbey.
The wedding is rumored to have cost £20 million – including security. The bride’s dress was designed by British designer Sarah Burton of the House of Alexander McQueen, and reportedly cost £250,000! A princely sum that could quite easily buy you a very nice property in many areas of England.
Luckily, the couple saved money on the reception venue and opted to party the night away in one of Grandma’s reception rooms… and when Grandma is the Queen and her reception room is in Buckingham Palace, that’s quite a magnificent deal.
Andrei Melnichenko and Aleksandra Kokotovich
When the billionaire founder of MDM Bank married Serbian model Aleksandra Kokotovich on September 3rd 2005, guests were in for a surprise when they were serenaded by Whitney Houston and Christina Aguilera. Both singers received an estimated $3.6 million to perform and were flown in on private jets. When your budget is $30 million, only the best will do.
Al-Muhtadee Billah and Sarah Salleh
Al-Muhtadee Billah – the heir to the sultan of Brunei married Sarah Salleh on September 9th 2004. Truly extravagant, the wedding was attended by over 2000 guests including dignitaries such as foreign royal families and heads of governments, and was classed as the ‘Asian wedding of the year’. The bride wore a solid gold crown and the couple travelled in a gold open-topped Rolls-Royce.
Compared to the previous weddings mentioned, the cost seems modest at $5.7 million.
When Hollywood royalty – Liza Minnelli – married American concert promoter David Gest on March 16th 2002, it was always going to be an elaborate, over-the-top affair. With the Jackson Five as Groomsmen, Michael Jackson walking the blushing bride down the aisle, Elizabeth Taylor as Matron of Honour and Tony Bennett providing the entertainment, the wedding was set to be one of the glitziest, star-studded ceremonies the world of showbiz had ever seen. More than 1,000 guests were invited and each received a large box filled with gifts from the happy couple.
The wedding cost $4.2 million. The couple separated in 2003 and divorced in 2007.
You may not have the money available to afford a celebrity style celebration, but with careful budgeting, it is possible to still have a fairytale wedding.
Make sure you only spend what you can realistically afford and always shop around for the best deal. It really isn’t about extravagance – it’s about making sure you can start your happily-ever-after without debt. After all, who still wants to be paying for their ‘big day’ years after the event?
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