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I bought my first steel mill at 26 in Indonesia. Everyone said I was too young. The mill did not care how old I was.
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The hostile takeover of Arcelor was a 33 billion dollar bet that European steelmakers needed an Indian to show them how to compete.
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Steel is a commodity. In commodities the lowest-cost producer always wins. That is why scale matters more than anything.
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My net worth dropped 25 billion dollars in 2008. I did not sell a single share. You cannot panic in a cyclical business.
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I own the house. I own the steel. I own the land. Physical assets are the only real assets.
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Europe called me a barbarian at the gate. I called them inefficient. History shows who was right.