The New, New Buffett: Aditya Mittal

One year ago dealmakers could do no wrong. Private Equity kingpins and M&A bankers were on top of the world, with Andrew Ross Sorkin and others chronicling their every move. Incessant media fawning often marks an end to the cycle, and this time was no different. But the journalists have also missed the big story.

It ain't about wounded airlines engage in a mating dances, or a few old guys futzing around with candy and auto companies. A 32-year who lives on an airplane and has lorded over 50 cross border deals is the real story:

Aditya Mittal smiles. He is a billionaire’s boy with serious ambition. Charming, articulate and handsome, with round brown eyes that mask a degree of calculation, he is already seen as likely successor to his father Lakshmi at the steel giant they created two years ago by merging their family-controlled firm with European rival Arcelor.

That combined entity, Arcelor Mittal, in which the Mittal family owns a 45% stake, is now the biggest steel group in the world. And Aditya, trained at Wharton Business School and Credit Suisse First Boston in New York, sits as finance director, head of mergers and acquisitions (M&A), and management-board member responsible for flat-steel products, Americas. He is only 32. Times of London

Still, Mittal does not deliver the type of ratings Buffett is capable of. The Mars deal today involving Bershire is just the start; the media will be tripping over themselves to cover all things Buffett this week:

Warren Buffett will be speaking at the Berkshire Hathaway shareholders’ meeting next Saturday. It’s a Saturday so I wouldn’t expect any immediate coverage of the event from either CNBC US or FBN even though both fall over themselves trying to out worship each other at the altar of Buffett (though maybe one or both will throw a curve ball and do some live coverage Saturday). But barring a surprise Saturday special, which network will be milking this event the most, both in the run up to Saturday and then following up on Monday? Inside Cable News 2.0

Becky Quick and Liz Claman might want to diversify their coverage of Billionaires given Buffett’s age; the Mittal’s hold Indian passports but are considered the wealthiest family in the U.K, and got there in the same manner as Buffett, snatching up out of favor assets while seeing things that others investors failed to. And young Aditya is garnering praise from the likes of Wilbur Ross and others:

“Aditya’s a first-class strategist and financier, able to master the big picture and the technical details,” says Yoel Zaoui, Goldman Sachs’ head of European investment banking.

With Arcelor Mittal three times as large as their nearest rival, and a global boom set to resume after the credit crisis is mopped up, Aditya Mittal is the heir apparent to Buffett, and will likely be making headlines long after Omaha is turned into a gaudier version of Graceland.

Aditya Mittal: billionaire’s boy with ambition
Times of London

Who gets Buffett first? Or the most?
ICN 2.0

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Update:

Aditya was featured on CNBC today, May 19th:

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