Former Indian Premier League commissioner Lalit Modi has revealed that he gifts his son a Ferrari every year on his birthday, starting from the age of 21. What sounds like an exaggeration is actually true — and over time, it has turned into a collection that reflects just how much wealth the businessman commands. Speaking in a recent interaction with former England cricketer Michael Vaughan, Modi explained the reason behind this unusual tradition. Growing up, he was never allowed to own a Ferrari, something he always wanted. That changed later in life when he received one as a gift on his 40th birthday. Since then, he has made sure his son never misses out. Today, that decision has resulted in a remarkable collection. Modi said the family owns
around 32 Ferraris, with a significant number belonging to his son alone. The obvious question that follows is: how can someone afford to do this year after year? According to recent estimates, Lalit Modi’s net worth is believed to be in the range of USD 500 million to USD 600 million, which roughly translates to Rs 4,000-5,000 crore. Most of his money comes from his family’s business ventures, smart investments, and, of course, his huge role in creating the Indian Premier League. The Modi family has deep roots in industries like tobacco and entertainment, but Lalit really made his name when he launched the IPL back in 2008. That move turned the league into a global sports powerhouse almost overnight. His journey hasn’t been smooth, though. In 2013, the Board of Control for Cricket in India suspended him and later imposed a lifetime ban over allegations of financial irregularities, something he has always denied. Even with that backdrop, his lifestyle continues to grab attention. Whether it’s his homes in London or a garage packed with high-end cars, Modi has stayed very much in the public eye. And the Ferrari tradition? It’s perhaps the most striking example of that lifestyle — a mix of personal history, wealth and a level of extravagance that’s hard to ignore.
