Britain's richest man became the U.K's biggest loser this week as £164bn ($263billion) was wiped off British shares in a single week.
The world's largest steel maker Lakshmi Mittal lost £2.16bn ($3.47billion) following a calamitous six days for stock markets on both sides of the Atlantic sparking fears the meltdown will lead to a double-dip recession. Arcelor Mittal owns the Dofasco plant in Hamilton and there is no word as of yet if operations at the Hamilton plant will be affected in the future.
The steel magnate, born into poverty in India, employs 320,000 people in 60 countries
The share price of Mr Mittal's company Arcelor Mittal, of which he owns 40.83 per cent, plummeted 18.7 per cent this week reducing the value of his fortune to £9.7bn. ($15.6billion)
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