Ravi Modi Net Worth: Remarkable Rise of His $1.5B Empire

Table of Contents

Quick Facts About Ravi Modi

Detail	Information
Full Name	Ravi Modi
Date of Birth	March 13, 1977
Age	49 years
Nationality	Indian
Profession	Entrepreneur, Fashion Executive
Company	Vedant Fashions Limited
Best-Known Brand	Manyavar
Estimated Net Worth	About $1.5 billion in the supplied estimate; Forbes’ indexed real-time estimate was $1.6 billion on September 10, 2026
Marital Status	Married
Wife	Shilpi Modi
Education	Commerce studies, St. Xavier’s College, Calcutta
Residence	Kolkata, India

Ravi Modi is the entrepreneur behind Manyavar and the founder of Vedant Fashions Limited, the publicly listed company that built a major business around Indian ethnic and celebration wear. His wealth is primarily connected to his long-term ownership interest in the business rather than a conventional executive salary. Forbes’ indexed profile placed his real-time net worth at $1.6 billion as of September 10, 2026, while the commonly cited estimate for this article is $1.5 billion.

The story behind that fortune is particularly notable because Modi began his independent Manyavar venture with approximately ₹10,000 borrowed from his mother. Over the following decades, he turned the idea into Vedant Fashions, whose portfolio includes Manyavar and other ethnic-fashion brands.

Ravi Modi Net Worth

Ravi Modi’s net worth is estimated at around $1.5 billion, although real-time estimates fluctuate with the market value of his business interests. Forbes’ September 2026 indexed profile showed a higher figure of $1.6 billion, demonstrating why billionaire net-worth figures should be treated as estimates rather than fixed bank balances.

The largest factor behind Modi’s wealth is his connection to Vedant Fashions Limited, the company behind Manyavar. The business became publicly listed in February 2022, allowing its market value to be reflected directly in the wealth calculations of its shareholders.

His compensation as chairman and managing director is significant but represents only one part of the overall picture. Vedant Fashions reported that Modi received ₹34.80 million, or ₹3.48 crore, in remuneration during FY2024-25. The company’s stated proposed structure for his remuneration included a fixed annual salary of ₹30 million plus variable compensation of ₹6 million.

How Ravi Modi Built His Wealth

His wealth can broadly be understood through several components:

Equity ownership and promoter interests in Vedant Fashions
Executive remuneration
Potential dividend income
Long-term appreciation in the value of his business interests
Other investments and personal assets

The distinction is important: Ravi Modi’s billionaire status is primarily an ownership story, not simply a salary story.

Vedant Fashions reported operating revenue of approximately ₹1,435.5 crore in FY2025-26, compared with about ₹1,386.5 crore in FY2024-25. The company’s FY2025-26 results also reported total income of approximately ₹1,529 crore.

Ravi Modi Income Sources

Vedant Fashions and Manyavar

The central source of Ravi Modi’s wealth is his association with Vedant Fashions, the company that operates brands including Manyavar and Mohey.

Manyavar focuses primarily on men’s celebration and wedding wear, while Mohey serves the women’s ethnic-fashion market. Vedant Fashions has expanded its portfolio over time, giving the company exposure to multiple segments of India’s branded ethnic-apparel market.

Salary

Ravi Modi’s official executive compensation provides a measurable income source.

Vedant Fashions disclosed remuneration of ₹3.48 crore for FY2024-25. The proposed remuneration structure subsequently described a ₹3 crore fixed salary and ₹60 lakh variable component per year.

Dividends

As a shareholder and promoter, Ravi Modi can also benefit from dividends when declared and paid by Vedant Fashions, subject to his applicable shareholding and the company’s dividend decisions.

For FY2025-26, the company’s board recommended a final dividend of ₹7.75 per equity share, subject to shareholder approval.

Equity Appreciation

For a founder-shareholder of a listed company, changes in the company’s market capitalization can have a substantial effect on estimated net worth.

That is one reason Ravi Modi’s published net-worth figures can change even when his annual salary does not. Forbes explicitly identifies his source of wealth as readymade garments and describes him as self-made.

Investments

Publicly available information does not provide a complete breakdown of all of Ravi Modi’s personal investments. Therefore, it would be misleading to assign a specific percentage of his net worth to private investments without reliable documentation.

Early Life and Education

Ravi Modi was born on March 13, 1977, and grew up in Kolkata, West Bengal. Vedant Fashions’ corporate records confirm his date of birth and identify his commerce education at St. Xavier’s College, Calcutta University.

His interest in ethnic apparel developed early. While spending time around his father’s clothing business, Modi noticed that traditional Indian clothing was not adequately represented in the store.

Forbes reported that, in 1996, when he was 19, Modi sourced around 100 kurta-pajama sets and sold 80 within a week. That experiment became an early indication of the business opportunity he saw in organized ethnic fashion.

Ravi Modi Career Journey

1996: Early Retail Experiment

At 19, Modi experimented with selling traditional men’s clothing after observing an unmet demand in his father’s clothing business.

1999: Manyavar Begins

Modi launched Manyavar independently, starting with approximately ₹10,000 borrowed from his mother and selling ready-to-wear kurta-pajamas to retailers. Forbes reported that the business initially operated with only one employee.

2002: Vedant Fashions

Vedant Fashions was incorporated in 2002. The company was named after Modi’s son, Vedant. Modi subsequently developed Manyavar into the company’s flagship brand.

2008: First Manyavar Store

The first Manyavar store opened in Bhubaneswar in 2008, marking an important transition from a primarily wholesale-oriented operation toward branded retail.

2011: International Expansion

Manyavar opened its first international store in Dubai in 2011, extending the brand beyond India’s domestic market.

2015: Mohey

Vedant Fashions entered women’s ethnic wear with Mohey, creating another major growth avenue beyond men’s celebration clothing.

2016: Franchise-Led Expansion

The company increasingly adopted a franchise model. Forbes reported that this approach allowed Vedant Fashions to expand its retail network without taking on the same level of store-level capital requirements associated with owning every location.

2017: Mebaz Acquisition

Vedant Fashions acquired Mebaz, a heritage apparel brand with a presence in southern India, broadening its regional and brand portfolio.

2022: Stock Market Listing

Vedant Fashions was listed on India’s stock exchanges in February 2022. The public listing created a market-based reference for the value of the company and became an important milestone in Modi’s wealth story.

2023: Stake Sale

Forbes reported that Modi sold 10% of his stake in 2023 as part of efforts to increase public shareholding to the regulatory requirement.

2026: Continued Expansion

Vedant Fashions continued operating as a listed branded-fashion company. Its FY2025-26 results showed operating revenue of roughly ₹1,435 crore, while its latest investor materials and corporate filings continue to provide updated financial and governance information.

Major Achievements

Ravi Modi’s major career achievements include:

Building Manyavar into a major Indian ethnic-wear brand.
Founding and leading Vedant Fashions.
Expanding from wholesale distribution into branded retail.
Building a franchise-led retail network.
Expanding into women’s ethnic wear through Mohey.
Taking Vedant Fashions public in 2022.
Establishing an international presence for Manyavar.
Building a business around India’s wedding and celebration-wear market.

Forbes currently describes Vedant Fashions as having more than 670 stores across 245 cities and 14 international stores in its indexed profile.

Assets and Lifestyle

Despite his billionaire status, Ravi Modi has generally maintained a relatively private public profile.

Forbes’ reporting has described him as a low-profile entrepreneur who spends considerable time outside the conventional corporate spotlight. The same profile reported that he lives in a large bungalow outside Kolkata and grows fruits and vegetables there.

Modi has also spoken about balancing business with personal time. Forbes reported his concept of “ROTI,” or return on time invested, reflecting his view that financial success should not be measured only through conventional return on investment.

Specific valuations for private homes, vehicles, jewelry or other personal assets are not consistently disclosed in authoritative sources, so estimates for these items should be treated cautiously.

Personal Life

Ravi Modi is married to Shilpi Modi, who is associated with Vedant Fashions’ leadership and board structure. Their son, Vedant Modi, is also involved with the company. Forbes identifies Vedant as the company’s chief revenue officer, while Shilpi Modi holds a board position.

The company’s corporate records identify Shilpi Modi as Ravi Modi’s spouse and confirm his family connection with the company’s leadership.

The company itself was named after their son, making the family connection part of the history behind the Vedant Fashions name.

Net Worth Growth Timeline

Year	Career / Wealth Milestone
1996	Begins experimenting with traditional men’s ethnic wear
1999	Launches Manyavar with approximately ₹10,000
2002	Vedant Fashions established
2008	First Manyavar store opens
2011	International expansion begins with Dubai
2015	Mohey launched
2017	Mebaz acquired
2022	Vedant Fashions listed on Indian stock exchanges
2023	Reported 10% stake sale
2025	FY2024-25 remuneration reported at ₹3.48 crore
2026	Forbes indexed real-time net worth at $1.6B; FY2025-26 operating revenue reached about ₹1,435 crore

The figures above should not be interpreted as a precise year-by-year personal net-worth series. Publicly reported billionaire wealth changes with stock prices and ownership calculations, while company milestones and disclosed compensation are independently verifiable.

Interesting Facts About Ravi Modi

Ravi Modi started his independent Manyavar venture with approximately ₹10,000 borrowed from his mother.
He began exploring ethnic apparel commercially at age 19.
Vedant Fashions was named after his son, Vedant.
Manyavar means a respected or honorable person in Hindi.
Modi opened Manyavar’s first international store in Dubai in 2011.
He expanded into women’s ethnic fashion through Mohey.
Vedant Fashions became publicly listed in 2022.
Modi is known for maintaining a relatively low public profile.
His wealth is closely linked to his ownership interest in the fashion business.
His FY2024-25 executive remuneration was ₹3.48 crore.
Vedant Fashions reported approximately ₹1,435 crore in operating revenue for FY2025-26.
Forbes’ indexed September 2026 profile estimated his real-time net worth at $1.6 billion.

FAQs About Ravi Modi

1. What is Ravi Modi’s net worth in 2026?

Ravi Modi’s net worth is commonly estimated around $1.5 billion, while Forbes’ indexed real-time profile showed approximately $1.6 billion on September 10, 2026. The figure can fluctuate with the market value of his business interests.

2. How did Ravi Modi become a billionaire?

He built his fortune through Manyavar and Vedant Fashions, transforming a small ethnic-wear business into a large branded-fashion company. His long-term equity ownership is a major component of his wealth.

3. Is Ravi Modi the owner of Manyavar?

Ravi Modi founded Manyavar and remains the key promoter behind its parent company, Vedant Fashions. Manyavar is now operated within the publicly listed Vedant Fashions business.

4. Who owns Vedant Fashions?

Vedant Fashions is a publicly listed company with promoter holdings associated with the Ravi Modi family. Its shareholding structure includes the Ravi Modi Family Trust, Ravi Modi HUF and other promoter holdings.

5. How much salary does Ravi Modi receive?

Vedant Fashions reported Ravi Modi’s remuneration at ₹3.48 crore for FY2024-25. The subsequent remuneration proposal described ₹3 crore fixed annual salary plus ₹60 lakh variable compensation.

6. What is Ravi Modi’s age?

Ravi Modi was born on March 13, 1977. He is 49 years old in September 2026.

7. Who is Ravi Modi’s wife?

Ravi Modi’s wife is Shilpi Modi. She is associated with Vedant Fashions’ board and leadership structure.

8. How did Ravi Modi start Manyavar?

Modi started his independent Manyavar venture in 1999 with approximately ₹10,000 borrowed from his mother. He initially sold ready-to-wear kurta-pajamas through retailers before developing the brand’s own store network.

9. What is Manyavar famous for?

Manyavar is best known for men’s Indian ethnic and celebration wear, including kurtas, sherwanis and jackets. The brand has built a strong presence around weddings and other major celebrations.

10. How much revenue does Vedant Fashions generate?

Vedant Fashions reported approximately ₹1,435.5 crore in operating revenue for FY2025-26, compared with approximately ₹1,386.5 crore in FY2024-25.

11. When did Vedant Fashions go public?

Vedant Fashions was listed on the Bombay Stock Exchange and National Stock Exchange in February 2022.

Who is Nirav Modi’s wife?

Nirav Modi’s wife is Ami Modi. They met while studying at the Wharton School in the U.S. and have three children.

Is Manyavar an Indian brand?

Yes. Manyavar is an Indian ethnic-wear brand founded by Ravi Modi and operated under Vedant Fashions Limited.

Is Ravi Modi married?

Yes. Ravi Modi is married to Shilpi Modi, who serves as a Whole Time Director of Vedant Fashions.

Who is the CEO of Manyavar?

Ravi Modi is the Chairman and Managing Director of Vedant Fashions, the company behind Manyavar; the company does not list a separate “CEO of Manyavar

How old is Ravi Modi?

Forbes lists Ravi Modi’s age as 49 in its 2026 profile.

Who is Ravi Modi’s wife?

Ravi Modi’s wife is Shilpi Modi, who is also a Whole Time Director of Vedant Fashions.

Who is Ravi Modi’s son?

His son is Vedant Modi, after whom Vedant Fashions was named; Forbes identifies him as the company’s Chief Revenue Officer.

What is the salary of the CEO of Manyavar?

A specific public salary figure for a “CEO of Manyavar” is not available; Ravi Modi is officially Chairman & Managing Director of Vedant Fashions.

What is the net worth of Modi Enterprises?

Modi Enterprises’ own profile previously described the group as having more than US$1.5 billion in value; this should not be confused with Ravi Modi’s personal net worth.

Is there a documentary about Nirav Modi?

Yes. Netflix’s Bad Boy Billionaires: India has an episode titled Diamonds Aren’t Forever about Nirav Modi.

Who is Nirav Modi’s mother?

Nirav Modi has said that his mother was an interior designer and influenced his interest in art and aesthetics

Where is Nirav Modi currently?

As of 2026, Nirav Modi remains in the United Kingdom, where he has been held in custody while extradition proceedings continue.

How did Nirav Modi leave India?

Nirav Modi left India in 2018, before the Punjab National Bank fraud became public.
Reports placed him in Hong Kong and later the UK, where he sought asylum; he was arrested in London in March 2019.

What brand is Nirav Modi Jewellery?

NIRAV MODI was a luxury jewellery brand founded by Nirav Modi in 2010.
The brand became known internationally for high-end diamond jewellery and flagship stores.

12. What is the main source of Ravi Modi’s wealth?

The main source is his long-term ownership and economic interest in Vedant Fashions and its fashion brands. Salary and dividends are additional financial components, but they should not be confused with the market value of his equity holdings.

Final Takeaway

Ravi Modi’s wealth story is fundamentally a business-equity story. He identified an opportunity in India’s traditional clothing market, started Manyavar with a small amount of borrowed capital, developed a branded retail model and eventually built Vedant Fashions into a listed fashion company.

The result is a fortune measured in the billions of dollars, although the exact figure changes with market conditions. Forbes’ latest indexed real-time figure available for September 2026 was $1.6 billion, while the $1.5 billion figure remains the estimate used in this article’s headline.

For readers researching Ravi Modi’s wealth, the most useful distinction is between salary, business revenue, company valuation and personal net worth. Vedant Fashions’ reported FY2025-26 financial results and Ravi Modi’s disclosed executive compensation provide a more transparent picture than simply repeating a billionaire headline.