Posts Tagged ‘Vanisha 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.
The Vanisha Mittal Divorce
The Vanisha Mittal divorce shocked the world for a number of reasons. Recently there has been a media frenzy over the couple’s parting and both families have been put in the public spotlight. Here we’ll discuss why the divorce is worth so much attention.
In 2004, Vanisha Mittal and Amit Bhatia were happily married. At the time, Vanisha’s father was estimate to be worth 50 billion dollars. He spared no expense on his daughter’s union, spending about $78 million on the wedding alone. The wedding was held in Paris and lasted for several days. It was an extremely extravagant affair, and rated one of the most costly weddings of all time. It was also rated one of the largest parties that Paris had ever seen.
When someone throws a $78 million dollar investment into a simple wedding, you’d expect that the couple would at least never separate. However, Vanisha and Mittal are divorcing, which sees all that money going down the drain. As much as he loves his daughter, he certainly cannot be happy seeing so much money disappear for no reason. Even for someone who is worth billions of dollars, $78 million is still a very large sum.
To make matters worse, the wedding was a very public spectacle that was broadcasted in not only India, but also Europe and the rest of the world. When news of the divorce hit, it became a public embarrassment for the family. Amit is actually working for Vanisha’s father as an investment banker, so the divorce will likely make his workplace quite awkward in the coming months.
The Vanisha Mittal Bhatia divorce comes as a shock for a number of reasons, starting with the sheer amount of money spent on the ceremony. When Amit Bhatia and Vanisha Mittal married in 2004, Vanisha’s father – who was worth around $50 billion at the time – spent about $78 million on the wedding. It was an incredibly extravagant affair, held in Paris, that went on for days. It was labeled as one of the most expensive weddings of all time, as well as one of the largest parties that the city had ever seen.
After that, it seemed that the couple could never get divorced just because of the investment that Vanisha’s father had made. He does not get any of that money back just because of the Vanisha Mittal Bhatia divorce. He cannot be happy about having thrown away such a sum, only to see the union not stand the test of time. Even for someone who is worth so much, 78 million USD is a lot of money. On top of that, the wedding became a public affair, making the whole thing a rather embarrassing spectacle.
Furtherer, Amit works as an investment banker for Vanisha’s father. He has been very successful in his own right, winning awards and being recognized as one of the best in the business. Still, you have to think that the Vanisha Mittal Bhatia divorce will make things very awkward between him and his employer in the future, really straining that working relationship.