Everything About Lalit Modi & This Is How He Makes His Money Nowadays

Netizens are going crazy over the news about how 1994 Miss Universe and sensational Bollywood actress Sushmita Sen is dating a man who is 10 years older than her, Lalit Modi. On Thursday, 14th July 2022, Modi buzzed us all when he broke the internet with the news of him dating Sushmita Sen. We are all pretty aware of the beautiful actress but very little do we know about who exactly Lalit Modi is.

The man had a great association with the cricket administration. Now, if you are curious to know everything about Lalit Modi then you are at the right place.

Lalit Modi was born with a silver spoon into a rich family in Delhi

Born on 29 November 1963, Lalit Modi was born into one of India’s leading business families.

Lalit Modi’s family and family business

Krishan Kumar Modi and Bina Modi are his father and mother respectively. He has two siblings an elder sister, Charu Modi Bhartia, and a younger brother, Samir Modi. Gujar Mal Modi was his grandfather who had established the town of Modinagar and the Modi Group business conglomerate. His family business was expanded by Lalit’s father KK Modi.

Currently, Lalit Modi serves as the President and Managing Director of a company that was established by his grandfather Gujarmal Modi, named Modi Enterprises. Modi enterprises offer consumer products, cigarettes, food and beverages, fashion, and many other things.

Lalit Modi’s education

Modi started his schooling at Bishop Cotton School in Shimla, in 1971 but because of a kidnapping threat had to move to St Joseph’s College, Nainital. He was expelled from St. Joseph’s for leaving the school to watch a movie in 1980.

Then he moved to the United States between 1983 and 1986, where he studied electrical engineering and business administration. For 2 years, he attended Pace University in New York, and then Duke University in North Carolina for one year. The surprising fact is that he did not graduate from any of these institutions.

Lalit Modi’s career – how he makes money nowadays

• He is the President and Managing Director of his family business which is reportedly a $5-billion business empire, Modi Enterprises. The company is into education, personal care, tea and beverages, cigarette manufacturing, entertainment, consumer products and more. The company achieved a turnover of ₹1,750 crores in FY21.
• Modi was the Director of Godfrey Phillips India Ltd. (GPIL) till 27 May 2015 which is a part of K K Modi Group.
• He also expanded his business in tea and confectionery besides tobacco, GPIL with Bollywood superstar Shah Rukh Khan serving as its brand ambassador.
• Lalit Modi established Modi Entertainment Networks (MEN) in 1993, he joined a 10-year joint venture with Walt Disney Pictures to showcase Disney’s content (including Fashion TV) in India.
• Modi bagged a 10-year contract worth $975 million for the pan-India distributorship of ESPN in 1994.

Lalit Modi net worth

According to reports his net worth is around ₹4,555 crores. He also owns a five-story, 7000 square feet mansion at London’s iconic 117, Sloane Street.

Lalit Modi is the founder of the Indian Premier League and has had links with BCCI and other cricket associations

Born on 29 November 1963, Lalit Modi is a business tycoon who currently is also a fugitive. He is a well-established Indian businessman who founded Indian Premier League (IPL). He was also the chairperson of the professional men’s Twenty20 cricket league and ran the tournament for about 3 years up till 2010.

He was not just the founder of IPL but he had also links with BCCI as he served and played the role of Vice President of the Board of Control for Cricket in India back in 2005 up till 2010. From 2005-2009 and from 2014-15, he was the of President for RCA, the Rajasthan Cricket Association. It is a governing body of Cricket in the state of Rajasthan.

He was also the of Vice President for PCA, the Punjab Cricket Association, a governing body of Cricket for Punjab and Chandigarh. He also served as the Chairperson of the Champions League during 2008-10.

Lalit Modi’s IPL scam and his suspension from BCCI

Soon after the 2010 IPL ended, former IPL commissioner Lalit Modi was banned for life by the country’s board of cricket association. This decision was taken in an important meeting of BCCI that took place in Chennai in the year 2013.

It took three years because of the investigations that were going on against him and finally he was banned for life on accounts of misconduct, indiscipline, and financial irregularities.

Lalit Modi was a pivotal factor and played an instrumental role in finding a multi-billion-dollar industry, IPL. But since he has been banned from cricket associations for the life he has been living in London.

BCCI lifted Rajasthan Cricket Association’s suspension after the state body informed the Board that it has become compliant with Lodha Committee guidelines.

The RCA was banned in 2014 after it elected former IPL chief Lalit Modi as its president.#CricketWithWCW pic.twitter.com/n8Ey23nlXg

— World Class Willow India (@WCW_India) September 9, 2019

Lalit Modi was arrested for trafficking cocaine and kidnapping

Modi tried to buy half a kilogram of cocaine with three other students for $10,000 at a motel when he was studying at Duke University in North Carolina. Lalit Modi was arrested for allegedly assisting in cocaine trafficking and second-degree kidnapping to which pleaded guilty.

LaMo aka Lalit Modi’s political connections

• In a firm owned by Rajasthan CM Vasundhara Raje’s son, Dushyant Singh the ex-IPL Chief had reportedly invested Rs. 11.63 crores.
• To set up an advanced cancer institute in Jaipur, the Rajasthan government signed an MoU with a Portuguese hospital. Lalit Modi’s wife Minal was treated at the same Lisbon-based hospital two months later.

Lalit Modi’s wife and children

Modi started dating the daughter of Nigeria-based Sindhi Hindu businessman, Pesu Aswani, Minal Sagrani in Delhi. Minal was nine years older than him and was a recently divorced mother. They finally got married on 17 October 1991 in Mumbai. Minal died in the year 2018 due to cancer.

He has two children, a son Ruchir Modi and a daughter Aliya and his son is a part of Modi enterprises.

Lalit Modi and Sushmita Sen

Lalit and Sushmita are dating and he recently made a clarification on the internet that he is not married to Sushmita Sen but believes that will happen soon.

Just for clarity. Not married – just dating each other. That too it will happen one day. 🙏🏾🙏🏾🙏🏾🙏🏾 pic.twitter.com/Rx6ze6lrhE

— Lalit Kumar Modi (@LalitKModi) July 14, 2022

Lalit Modi awards and recognitions

• Honored for ‘Excellence in Innovation’ at the Frost & Sullivan Growth Excellence Awards in 2008 and was named ‘The Most Innovative Business Leader in India’ by NDTV Profit.
• Time magazine rated him as the 16th best sports executive in the world in July 2008. A couple of months later Business Week ranked him 19th in a list of 25 most powerful global sports figures in October.
• He was also presented with ‘The Consumer Award for Transforming Cricket in India’ by CNBC Awaaz in the same year.

Hopefully, now you know everything about Lalit Modi, the controversy’s child!