Inside Lalit Modi’s luxurious lifestyle: A 5-storey mansion in London, a fleet of uber-expensive cars, a group of businesses worth Rs 12,000 Crore and more

Lalit Modi, the man who conceived the Indian Premier League (IPL), is all over the news after announcing that he is dating former Miss Universe, Sushmita Sen. The cricket administrator and business tycoon posted pictures of his holiday to the Maldives with the Aarya actor, and also clarified that the two are yet to exchange vows.

Modi is best known for conceptualizing the IPL, which is now one of the richest sports leagues in the world. To pursue a degree in engineering, Modi moved to the USA, where he was inspired by how the sports business was carried out. Upon his return to India, he pitched the idea of a domestic ODI league to the BCCI, which was rejected. But later in 2007, after India won the inaugural edition of the T20 World Cup, Modi pitched yet another idea to the Indian Cricket Board. This time, the idea was to start a T20 league and that is how the IPL was born in 2008. Lalit Modi became the first chairman of the league, but his association with the cash-rich tournament was short-lived. A day after the IPL 2010 final, Modi was suspended by the BCCI after he was faced with a total of 22 charges, including a charge of financial irregularities. Three years later in 2013, Modi was banned for life by BCCI after being found guilty of the charges. He then moved to London and started a new life there with his family comprising wife Minal Modi, who died of cancer in 2018, and children Aliya and Ruchir Modi.

Inside Lalit Modi’s luxurious lifestyle: A 5-storey mansion in London, a fleet of uber-expensive cars, a group of businesses worth Rs 12,000 Crore and more

As per a report in NDTV, Lalit Modi lives in a five storey mansion in London which is spread across 7000 square feet. The home has 14 rooms and an inbuilt elevator. As per news18, the house also has seven bathrooms, two guest rooms, four reception rooms and two kitchens.

“Staying true to his personal style, Modi's 7000 sqft 5-storey mansion comes with eight double bedrooms, seven bathrooms, two guest rooms, four reception rooms, two kitchens and a dedicated lift. The unfurnished mansion, which had been on the market for an affordable rent of £11,500 (approximately Rs 12 lakh per month) till Modi moved in, has been taken on a long lease with a provision for extensions,” news18 quoted from a report by luxury lifestyle website luxpresso.

The first thing you will notice if you scroll through Lalit Modi’s Instagram account is that he is a gearhead. Modi owns some of the most expensive cars in the world, a couple of which he bought as a gift for his wife and son.

The businessman had gifted his late wife Minal the now-discontinued Aston Martin Rapide as per Cardekho, the price of which went up to Rs. 4.4 crore. In return, his wife had gifted him a Ferrari California, which is not produced anymore. When in production, the car cost around 3.30 crore. Last year, Modi gifted a Ferrari 812 GTS to his son Ruchir, the ex-showroom price which in India as per Cardekho is 5.75 crore. Earlier in 2016, Ruchir had gifted his father a Ferrari F12 Berlinetta, the last recorded price of which in India, as per carwale, was Rs 5.60 crore.

 As per cartoq, Modi also drives a Ferrari 488 Pista Spider, which, as per Cardekho, costs Rs 4.81 crore. The other uber-expensive vehicles parked in Modi’s garage are a BMW 7-Series 760 Li (Rs 1.95 crore, per Cardekho), McLaren 720S (Rs 5.04 crore, per carwale) and a Bentley Mulsanne Speed (Rs 4.81 crore, per Cardekho)

Modi was born to a wealthy business family in Delhi. The 57-year-old is currently the president and managing director of Modi Enterprises, which was established by his grandfather, Gujar Mal Modi in 1933. What started as a small family business of sugar mills was expanded by Gujar Mal Modi’s son and Lalit Modi’s father, KK Modi, who took over the reins in 1976. Currently, Lalit Modi is the president and managing director of the Modi Group, and also the head of the Modi Group's flagship business Godfrey Phillips India.

Presently, the Modi Group has businesses in fashion, chemicals, healthcare, retail, salon, travel, personal care, entertainment and FMCG. The list of brands owned by the company includes Godfrey Phillips, Modicare, Colorbar, Beacon Travels, Pan Vilas Pan Masala, KK Modi educational institute and Ego Italian restaurant.

The entertainment network of the Modi Group, Modi Entertainment Networks, was established by Lalit Modi in 1993.  The company partnered with Walt Disney to telecast Disney content in India. Next year in 1994, Modi also became the pan-India distributor of ESPN. As per Aaj Tak, the current valuation of Modi Enterprises is over $1.5 billion (approx 12,000 crore).

With the huge amount of money, Lalit Modi earned as a cricket administrator, and continues to make as a businessman, his current net worth as per Aaj Tak is a whopping $570 million (Rs 4,555 crore).