Lalit Modi's net worth: The Indian Premier League (IPL) 2025 is set to begin on March 22, with defending champions Kolkata Knight Riders (KKR) facing off against Royal Challengers Bengaluru (RCB) at Eden Gardens. But have you ever wondered who came up with the idea of IPL? The mastermind behind this global cricket sensation is none other than Lalit Modi.
Lalit Modi is the brain behind the creation of the Indian Premier League (IPL). He was the first chairman and commissioner of the league, serving from 2008 to 2010. Under his leadership, IPL revolutionised cricket, turning it into a billion-dollar industry. During his tenure, he also served as the vice-president of the Board of Control for Cricket in India (BCCI), contributing significantly to its financial growth. Between 2005 and 2008, BCCI's revenue increased sevenfold, reaching $1 billion (approximately Rs 7,500 crore).
In 2013,?Lalit Modi was banned by BCCI after being found guilty of financial irregularities following the IPL 2013 final. Following this, he moved to London, United Kingdom, where he continued to live a luxurious lifestyle despite being a fugitive.
Born on 29 November 1963 in Delhi, Lalit Modi hails from one of India's most influential business families. His father, Krishan Kumar Modi (KK Modi), expanded the family's business empire, which was originally established by his grandfather Gujar Mal Modi.
Lalit Modi studied at Bishop Cotton School in Shimla, but due to security concerns, he was later transferred to St. Joseph's College in Nainital. Later, he moved to the United States to study electrical engineering and business administration at Pace University in New York and Duke University in North Carolina, though he did not complete his degree.
As of July 2022, Lalit Modi’s net worth is estimated to be Rs 4,555 crore (approximately $570 million), as reported in TOI. His business empire spans multiple industries, including:
In 1995, he entered the entertainment sector by launching Modi Entertainment Networks, which partnered with Walt Disney to broadcast content in India. He is also the President of Modi Enterprises, which has a diverse portfolio including cigarette manufacturing, agriculture, and education. As per reports, Modi Enterprises' turnover was Rs 1,750 crore in 2021, with a current valuation of over Rs 12,000 crore (approx. $1.5 billion).
Lalit Modi owns multiple luxury properties, including a 5-storey mansion on Sloane Street, London. Spanning 7,000 square feet, the mansion boasts:?14 rooms, two guest rooms, seven bathrooms, four reception areas, two kitchens,?and an inbuilt elevator.
Lalit Modi has a passion for high-end cars. His impressive collection includes:
Source:?financialexpress
As President of the Rajasthan Cricket Association (2005), Lalit Modi spent Rs 200 million on upgrading Jaipur’s Sawai Mansingh Stadium. He also invested Rs 70 million to develop a state-of-the-art cricket academy.
Lalit Modi's personal life has been eventful. He married Minal Sagrani on 17 October 1991 in Mumbai, despite initial opposition from his family due to her being nine years older and a divorcee. The couple had two children:
Lalit Modi also has a stepdaughter, Karima Sagrani, from Minal’s first marriage. Sadly, Minal Modi passed away from cancer on 10 December 2018.
In July 2022, Lalit Modi made headlines when he announced his relationship with former Miss Universe Sushmita Sen. However, they reportedly parted ways on 14 February 2025.
Despite his controversial exit from the cricket administration, Lalit Modi’s net worth, business empire, and lavish lifestyle continue to make headlines. From revolutionising Indian cricket with IPL to owning luxury cars and multi-million-dollar mansions, he remains one of India’s most talked-about businessmen.
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