Nirav Modi (Businessman) Biography, Personal Life, Physical Statistics, Education, Luxuries, Income & More
Nirav Modi is a businessman, who is the founder of Nirav Modi global diamond jewellery house established in 2010. When the CBI started investigating a $2 billion fraud case involving him, he escaped in early 2018. Interpol issued a diffusion notice against Nirav Modi in February 2018. Nirav Modi was the first Indian jeweller to have been featured on the covers of Christie’s and Sotheby’s Catalogues. His company has its headquarters in Mumbai, India.
Name: Nirav Deepak Modi
Nickname: Not Known
Birth Place: Jamnagar, Gujarat
Home Town: Antwerp, Belgium
Home Address: Not Known
Best Friends: Not Known
Hobbies: Art and design, reading, painting and travelling
- Visiting various museums in Europe at an early age
- In 1989, moving to India and training in the diamond trading business
- In 1999, founding Firestar (Previously known as Firestone), which is a diamond sourcing and trading company that is the exclusive distributor of Rio Tinto’s Argyle pink diamonds in the country
- In 2002, manufacturing jewellery on a contract basis
- In 2005, acquiring Frederick Goldman
- In 2007, acquiring Sandberg & Sikorski and A.Jaffe in USA
- In 2010, starting designer diamond stores with his name in New Delhi (Defence Colony), and Mumbai (Kala Ghoda) followed by 17 stores across the world in major sites. He had a vision of having 200 stores by 2025. He was planning to sell some of his business to a well-known foreign brand and was also planning to raise funds through an IPO.
- In February 2018, the CBI launched an investigation into Modi, acting on a complaint from the Punjab National Bank, alleging Modi and his partners defrauded the bank for ₹280 Crore by conspiring with bank officials to fraudulently obtain Letters of Undertaking for making payments to overseas suppliers
- Although the case is still under investigation, Nirav Modi’s stores will remain open and business is as usual at his stores.
- On 7th March 2018, Bloomberg News reported that Modi’s firm Firestar Diamond Inc. had applied for bankruptcy protection at a Manhattan bankruptcy court, in order to protect its assets in the United States and their credit facility with Israel Discount Bank.
Height: 168 centimetres
Weight: 65 kilograms
Body: Not Known
Hair Color: Black (semi-bald)
Marital Status: Married
Wife: Ami Modi
GF: Not Known
Kids: Rohin Modi, Apasha Modi and Ananya Modi
Father: Deepak Modi
Mother: Not Known
Brother/ Sister: Neeshal Modi
School: Not Known
College (Graduation): Not Known
College (Post-Graduation): Wharton School at the University of Pennsylvania
Educational Qualification: College Drop-out (was pursuing MBA)
Cars: Rolls Royce Ghost, Mercedes Benz GL class, Porsche Panamera, 3 Honda cars, Toyota Fortuner, Bentley
Bikes: Not Known
House: Various properties all over the world, including a recently bought sea facing one in Mumbai
Net Income: $1.73 billion (estimate)
Film: Not Known
Actor: Shah Rukh Khan and Akshay Kumar
Actress: Priyanka Chopra, Kate Winslet, Dakota Johnson, Jacqueline Fernandez, Sonam Kapoor, Amy Adams
Song: Not Known
More Information and Facts about Nirav Modi
- In 2008, a close friend asked Nirav to make a pair of earrings, after which he created the brand.
- He became famous in 2010 after designing his “Golconda Lotus Necklace” with an old, 12-carat, pear-shaped diamond as a centrepiece. The diamond was polished and featured a lattice of white and pink diamonds. It was featured on the cover of Christie’s catalogue in Hong Kong, and was auctioned for $3.6 million in 2010.
Many of his designs use pink diamonds.
- He developed new diamond cuts: Ainra cut, Endless Cut and the Moghul Cut.
- He is often compared with Laurence Graff who also created a brand name in the high end diamond market.
Nirav Modi bought a Rs 900 Crore sea-facing property in Mumbai’s Samudra Mahal properties with his wife.
The official website of Nirav Modi became inaccessible after the fraud.
- In 2010, Nirav Modi was the first Indian jeweller to have been featured on the covers of Christie’s and Sotheby’s Catalogues.
- In 2012, The Riviere of Perfection, with 36 flawless white diamonds weighing a total of 88.88 carats, was sold at Sotheby’s Hong Kong auction.
- In 2013, Nirav Modi was featured on the Forbes list of Indian billionaires and has been featured on the list ever since. He is ranked 1,234 in Forbes’s world’s billionaires list for 2017, and 85 in India.