Lalit Modi

Lalit Modi

Lalit Modi
Quick Facts About Lalit Modi
Celebrated Name Lalit Modi
Age 60 years old
Nick Name Lalit Modi
Birth Name Lalit Modi
Birth Date 1963-11-29
Gender Male
Profession Businessman
Birth Nation India
Place of Birth New Delhi
Nationality Indian
Ethnicity Indian-Asian
Father Krishan Kumar Modi
Mother Binal Modi
Siblings Charu and Samir Modi
School Bishop Cotton School
College St Joseph's College
University Pace University in New York and Duke University in North Carolina
Net Worth $585 Million
Salary Over $20 Million
Source of Wealth Business Career
Marital Status Married
Sexual Orientation Striaght
Wife Mina Aswani (Dies due to cancer)
Girlfriend Sushmita Sen (Rumored)
Children Ruchir and Aliya
Height 5 ft 8 in
Weight 78 KG
Hair Color Salt and Pepper
Eye Color Dark Brown
Body Build/Type Average

Lalit Modi is an Indian businessman and former cricket administrator. He is famous for being the founder, first chairman, and League Commissioner of the Indian Premier League (IPL) until 2010. He also held positions such as Chairman of the Champions League and Vice President of the BCCI from 2005 to 2010. Modi's political influence was significant during his association with BJP leader Vasundhara Raje in Rajasthan, earning him the moniker "Super Chief Minister" during Raje's first term. Despite his controversial exit from cricket administration, Modi, as a scion of a prominent business family, continues to serve as the executive director of Godfrey Phillips India.

Lalit Modi Biography

Lalit Modi, an Indian businessman and former cricket administrator, founded and led the Indian Premier League (IPL) until 2010. He held key roles in cricket administration, including Chairman of the Champions League and Vice President of the BCCI. Modi's political influence in Rajasthan, associated with BJP leader Vasundhara Raje, earned him the title "Super Chief Minister." 

Lalit Modi, born on November 29, 1963, hails from New Delhi, India. He is part of the esteemed Modi family, known for the Modi Group business conglomerate and the town of Modinagar, established by his grandfather Gujar Mal Modi. His father, Krishan Kumar Modi, significantly expanded the family business. Binal Modi is the name of his mother. Lalit has an elder sister, Charu Modi Bhartia, and a younger brother, Samir Modi.

He began his education at Bishop Cotton School in Shimla in 1971 but later moved to St Joseph's College, Nainital, due to a kidnapping threat. In 1980, he was expelled from St. Joseph's for truancy. Lalit pursued studies in electrical engineering and business administration in the United States between 1983 and 1986, attending Pace University in New York for two years and Duke University in North Carolina for one year, although he did not graduate from either institution.

In 1985, while a sophomore in the United States, Lalit Modi and three others attempted to purchase half a kilogram of cocaine but were robbed at gunpoint by the supposed seller. In retaliation, Modi and his friends assaulted a student they believed had set them up. Subsequently, he was arrested on charges of conspiracy to traffic cocaine, assault, and second-degree kidnapping.

After pleading guilty and entering a plea bargain in a North Carolina court, Modi received a suspended two-year prison sentence, five years of probation, and 100 hours of community service. In 1986, he returned to India with court permission, facilitated by his father's connections. Lalit Modi then joined the family business, serving as the President of International Tobacco Company Limited from 1987 to 1991 and holding various roles at Godfrey Phillips India, a major tobacco company, until 2010.

Indian Businessman, Lalit Modi

Lalit Modi Career

In 1993, Lalit Modi founded Modi Entertainment Networks (MEN) with funds from a family trust. Initially partnering with Walt Disney Pictures, MEN broadcasted Disney content in India, including Fashion TV. In 1994, MEN secured a $975 million, ten-year contract to distribute ESPN across India, collecting fees from cable companies. However, ESPN did not renew the contract, citing revenue underreporting by Modi. Additionally, MEN lost its Fashion TV contract due to a dispute with founder Michel Adam Lisowski. Modi's Mumbai businesses were largely unprofitable, and he relied on a maintenance allowance from his father's company. Later, Lalit Modi assumed the role of President and managing director of Modi Enterprises. In 2002, he ventured into the online lottery business with Sixo in Kerala.

In 1995, Lalit Modi, inspired by the success of American sports leagues, proposed a new 50-over cricket tournament to the BCCI but faced initial rejection. To influence cricket administration, he joined the Himachal Pradesh Cricket Association in 1999 but failed to gain control. In 2004, he became the vice-president of the Punjab Cricket Association. Modi then targeted the Rajasthan Cricket Association (RCA), and with political connections to Chief Minister Vasundhara Raje, he secured the presidency in 2005. Modi implemented changes in the RCA and significantly upgraded Jaipur's Sawai Mansingh Stadium.

As the vice president of the BCCI, he played a role in the board's financial success, with revenues soaring to $1 billion between 2005 and 2008. In 2008, Modi spearheaded the launch of the Indian Premier League (IPL), transforming it into a global sports giant worth over $4 billion. However, controversies arose regarding his associates' financial interests in IPL franchises, raising questions about insider information sharing.

Lalit Modi, a close ally of Chief Minister Vasundhara Raje in Rajasthan, earned the moniker "super chief minister" for his influence. Operating from Mumbai, he expanded his network to include industrialists and Bollywood figures. Modi ventured into real estate with Amer Heritage City Construction, flouting rules to control havelis near Amer Fort. He faced legal opposition from the titleholder of Choor Singh ki Haveli. Modi was accused of influencing land reclassification rules benefiting builders during Raje's tenure.

Known for confrontations, he barred officials from cricket matches and even tore tickets, leading to protests. Modi's political sway became contentious in the 2008 elections, contributing to Raje's loss. Accused of acting beyond his role, his influence diminished after Raje's defeat, marked by legal troubles and losing the RCA election in 2009.

In 2009, Lalit Modi's rivalry with N. Srinivasan emerged, and during the 2009–10 period, he faced controversy over IPL bidding processes. Modi's involvement in awarding the Kochi Tuskers Kerala franchise led to a public spat with Shashi Tharoor and Tharoor's subsequent resignation. Following accusations of misconduct, Modi was suspended by BCCI in 2010, prompting his move to London. He faced legal troubles, including charges related to FEMA violations and match-fixing allegations against cricketer Chris Cairns.

In 2013, BCCI expelled Modi, and in 2014, he was re-elected as the president of the Rajasthan Cricket Association, leading to a conflict with the BCCI. The "Modigate" controversy in 2015 revealed Modi's connections with political figures and accusations of financial irregularities. Despite Interpol issuing a notice for his arrest, Modi continued to evade legal consequences, and in 2017, Interpol rejected India's request for a global warrant against him.

Awards and Achievements

  • On 9 April 2006, Mike Atherton described Lalit Modi as arguably ‘the most important cricket administrator in the world today’ 
  • In March 2008, Lalit Modi was listed among India's 30 most powerful people by India Today magazine 
  • In July 2008 he was featured on the cover of Sports Pro and was hailed as the Best Rain Maker (money maker) for any sports body in the history of sports globally 
  • In July 2008, Time magazine ranked Lalit Modi 16th in a list of the world's best sports executives 
  • On 25 September 2008, Lalit Modi was named ‘Brand Builder of the Year’ by Asia Brand Conference 
  • On 26 September 2008, Lalit Modi was presented with ‘The Consumer Award for Transforming Cricket in India’ by CNBC Awaaz 
  • On 6 October 2008, Lalit Modi was named ‘The Most Innovative Business Leader in India’ by NDTV Profit 
  • On 24 October 2008, Lalit Modi was awarded for ‘Excellence in Innovation’ at the Frost & Sullivan Growth Excellence Awards 
  • In October 2008, Business Week ranked Lalit Modi 19th in a list of 25 most powerful global sports figures 
  • In August 2009, Forbes magazine described the IPL as ‘the world's hottest sports league’ – a remarkable accolade from a US magazine less than a year after the IPL's launch 
  • On 28 December 2009, Business Standard named Lalit Modi as one of the ‘Game Changers of the Decade’ 
  • In February 2010, Sports Illustrated named Lalit Modi as the 2nd Most Powerful Person in Indian Sports

Lalit Modi Net Worth In 2023

Lalit Modi, a prominent businessman and former cricket administrator, has gained both acclaim and notoriety. As of 2023, he has a substantial net worth of $585 million, earning an estimated annual salary exceeding $20 million. Hailing from one of India's distinguished business families, Modi has leveraged his family's legacy, inheriting his father's business and venturing into additional enterprises. Despite facing financial fraud allegations and being a fugitive, Modi continues to lead a lavish lifestyle, supported by his significant wealth accumulated through his successful business career. 

He is reportedly leading a lavish life in London in a 7000 sq ft mansion on Sloane Street. His luxurious 5-storey house comes with eight double bedrooms, seven bathrooms, four reception rooms, two guest rooms, and kitchens. The mansion, with a rent of approximately Rs. 12 lakh per month, is taken on lease by Lalit. 

Who is Lalit Modi Wife?

Lalit Modi, once married to Minal Aswani, raised eyebrows when rumors surfaced about his romantic involvement with Indian actress Sushmita Sen in 2022. Adding fuel to the speculation, Modi included a declaration of their relationship in his Instagram bio, stating, "finally starting a new life with my partner in crime. My love @sushmitasen47." However, in September 2022, he removed the statement from his bio, triggering rumors of a possible separation.

Lalit Modi and his rumored girlfriend, Sushmita Sen spending time together

Everything To Know About Sushmita Sen

Before his rumored relationship with Sen, Lalit Modi was previously married to Minal Aswani, who was nine years his senior, in 1991. The couple had two children together, a son named Ruchir Modi and a daughter named Aliya Modi. Lalit also became a stepfather to Minal's daughter Karima Sagrani from her previous marriage. Their marriage endured until Minal's unfortunate death from cancer on December 10, 2018. 

Lalit Modi and his ex-wife, Mina Aswani

How tall is Lalit Modi?

Lalit Modi, at the age of 59, maintains an average build with a height of 5 feet 8 inches and a weight of 78 kilograms. He has a dark brown eyes color and his hair color is black. However, his hair has turned salt-and-pepper with his advancing age. Notably, he speaks with a lisp, adding a unique characteristic to his appearance. He has got a healthy body as of now. 

Facts About Lalit Modi

Lalit Modi was born into a wealthy business family

Lalit Modi, born into a wealthy business family, is the son of Bina Modi and Krishan Kumar Modi, a prominent business tycoon and Chairman of Modi Enterprises. His family lineage includes his grandfather, Gujar Mal Modi, who founded the Modi Group business conglomerate and established the town of Modinagar. Lalit has siblings, an elder sister named Charu Modi Bhartia and a younger brother named Samir Modi. His background places him with a notable business legacy.

Modi was arrested for assaulting a student 

During his academic years at Duke University in North Carolina from 1983 to 1986, Lalit Modi faced legal trouble when he was arrested for assaulting a fellow student. Admitting guilt, Modi entered a plea bargain that resulted in a suspended two-year prison sentence. This incident marked a challenging period in his life.

He collaborated with Walt Disney Pictures in 1993

In 1993, Lalit Modi forged a collaboration with Walt Disney Pictures, marking the establishment of Modi Entertainment Networks (MEN). This joint venture facilitated the introduction of Disney's content to the Indian audience. Additionally, MEN played a role in bringing Fashion TV to India, expanding its content offerings in the entertainment industry.

He had close ties with politician Vasundhara Raje

Lalit Modi maintained close ties with politician Vasundhara Raje, who served as the Chief Minister of Rajasthan from 2013 to 2018. Their association underscored Modi's significant connections in the political landscape, particularly within the state of Rajasthan.