Lalit Modi, the former commissioner of the Indian Premier League (IPL), has created a unique tradition of gifting his son a Ferrari every year since his 21st birthday, resulting in a staggering collection of 32 Ferraris. This unusual practice stems from Modi's own childhood desire to own a Ferrari, which he finally received as a gift on his 40th birthday. Currently, his estimated net worth ranges from $500 million to $600 million (approximately ₹4,000-5,000 crore), primarily derived from his family's business interests, strategic investments, and his significant role in establishing the IPL in 2008. Despite facing a lifetime ban from cricket in 2013 due to allegations of financial misconduct, which he denies, Modi continues to live a lavish lifestyle. His opulent homes and extensive collection of luxury cars keep him in the public eye, with the Ferrari tradition serving as a prominent symbol of his wealth and extravagance.