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Who is the owner of Rajasthan Royals?: Amidst the IPL 2026 season, sensational news has emerged from the cricketing world. The Rajasthan Royals (RR), the team that won the inaugural IPL title in 2008, is now changing hands. The family of Indian-origin billionaire and the world's 'Steel King,' Lakshmi Mittal, has acquired the team.
Rajasthan Royals' New Ownership (Ownership Breakdown)
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Following this mega-deal, the team's shareholding structure has undergone a complete transformation
- Lakshmi Mittal Family: 75% (Majority Owners)
- Adar Poonawalla: 18%
- Manoj Badale and Others: 7%
- Total Valuation: Approximately ₹15,660 Crore ($1.65 Billion)
Who is Lakshmi Mittal? (The Steel King)
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Lakshmi Mittal serves as the Executive Chairman of 'ArcelorMittal,' the world's largest steel-producing company.
- Birthplace: He was born in Sadulpur, Rajasthan, a fact that gives him a deep emotional connection to this team.
- Net Worth: According to Forbes, his total net worth stands at approximately $28.4 billion, placing him among India's wealthiest individuals.
- Board Members: Joining Lakshmi Mittal on the Rajasthan Royals' Board will be his son, Aditya Mittal, and his daughter, Vanisha Mittal-Bhatia.
The 'Emotional' Connection of the Steel King to Rajasthan
Lakshmi Mittal was born in Sadulpur, Rajasthan. Commenting on this deal, he stated, "I love cricket, and my family hails from Rajasthan; therefore, I would not wish to be associated with any IPL team other than the Rajasthan Royals." He stated that he has a personal connection to this investment.
Lakshmi Mittal: Net Worth and Stature
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According to Forbes, Lakshmi Mittal holds a prominent position on the list of India's wealthiest individuals. His net worth stands at approximately $28.4 billion. Having previously ranked among Britain's richest people, he is now embarking on a new innings in the Indian sports arena through the IPL.
Who is Adar Poonawalla? (The Vaccine King)
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Adar Poonawalla is the CEO of the 'Serum Institute of India' (SII), the world's largest vaccine manufacturing company.
- He is known in India as the 'Vaccine King'.
- In collaboration with the Mittal family, he has acquired an 18% stake in the Rajasthan Royals.
- Poonawalla believes that the Rajasthan Royals is a franchise with a strong legacy, and he is extremely pleased with this investment.
BCCI Approval and Future Plans
Following the green signal from the Board of Control for Cricket in India (BCCI) and other regulatory bodies, the completion of this process is expected by the third quarter (Q3) of 2026. Adar Poonawalla has also expressed his delight regarding this partnership. This deal will not only provide financial stability to the team but will also further strengthen the Rajasthan Royals brand on a global stage.
Also Read: BCCI to Ban Girlfriend Culture in IPL?, New Rules for Cricketers
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