Lalit Modi's Ferrari-a-year tradition for son's birthday stems from childhood regret

Former Indian Premier League commissioner Lalit Modi has revealed that he gifts his son a Ferrari every year on his birthday, a lavish tradition inspired by a childhood disappointment he never quite got over. Modi said his son now owns 12 Ferraris, receiving one annually since turning 21, because he wanted to give his children what he himself had long wished for but never received from his father.The businessman made the remarks in an explosive interview with ANI, where he reflected on his upbringing, parenting philosophy and views on wealth. Modi said he did not own a Ferrari until his 40th birthday, when one was gifted to him by his brother-in-law, a memory that shaped the way he chose to raise his children."I gift my son every year from his 21st birthday. He has 12 Ferraris now.

I gift him one every year because my father never gifted me one," Modi said.Recalling his own childhood, Modi said he had to wait until his 40th birthday to own a Ferrari, which was gifted by his brother-in-law, as his father never bought him one. The experience, he said, influenced his parenting philosophy of giving his children what they wanted rather than making them yearn for it.“If I can afford it, if I didn't want my son ever to want,” he added.The businessman, who currently resides in London following his departure from India in 2010 amidst financial and administrative investigations, said growing up with unfulfilled desires had a lasting impact on him and influenced the way he chose to raise his children."I went through a life where I always wanted and I found a way to get it. I was always trying to find ways to get what I wanted," Modi said, adding, "I decided that I'm going to give my children what they want."Defending the practice when asked whether it amounted to good parenting, Modi argued that providing abundance had the opposite effect of what many might expect. He claimed that because his children grew up with access to luxury, they developed a more measured attitude towards money and possessions.Modi said his 31-year-old son is now financially responsible and often advises him to curb his own spending.

"Today that boy comes to me and says, 'Dad, your credit card bills are too high. You need to calm down'," he said.Modi also reflected on his family's contrasting influences, describing his grandparents as deeply traditional while portraying his father and uncles as larger-than-life socialites known for hosting some of Delhi’s biggest parties.“My father was the playboy of the world, without doubt,” Modi said, adding with a laugh that he may have inherited some of those traits and “taken it to another level altogether.”- EndsPublished By: Shipra ParasharPublished On: Jun 4, 2026 18:52 IST