Billionaire Gautam Singhania and His Wife Nawaz End 30-Year Marriage
Raymond Group Chairman and billionaire Gautam Singhania, 58, and his wife Nawaz Modi, the daughter of solicitor Nadar Modi, have decided to separate, marking an unexpected end to their 30-year marriage.
“This Diwali is not going to be the same as many in the past,” said in social media posts.
“It is my belief that Nawaz and I will pursue different paths from here on,” he said.
He tied the knot with Nawaz, who was 29 years old in 1999, after eight years of courtship.
— Gautam Singhania (@SinghaniaGautam) November 13, 2023
“32 years of being together as a couple, growing as parents and always being a strength of each other… we traversed with commitment, resolve, faith as along came the two most beautiful additions in our lives,” he said.
“As I reflect over the unfortunate developments in the recent past, there has been a lot of unsubstantiated rumor mongering, and gossip surrounding our lives fanned by “not so well wishers”,” he wrote.
“I am parting ways with her while we continue to do what is the best for our two precious diamonds Niharika and Nisa.” He sought privacy and respect for personal decisions.
“Please respect this personal decision and kindly give us the space to settle all aspects of the relationship. Seeking your best wishes for the entire family during these times,” he added.
Minutes before announcing the separation, Gautam Singhania wrote on X about his group”s real estate arm continuing to expand its presence across Mumbai.
“We have secured 3 new real estate projects in the (Mumbai Metropolitan) Region, with a combined revenue potential of over Rs. 5,000 crore (USD 678 million). Our realty business has seen a strong growth trajectory over the last couple of projects and we are confident of delivering on the highest level of quality and finesse associated with Raymond Group for the upcoming projects,” he said.
However, Singhania has not disclosed more details.
Mr. Singhania was in the news a few years ago over a disagreement with his father, Vijaypat. The Raymond Group, which was founded by Vijaypat Singhania, had become a household name in India. Gautam took over the group, which was producing apparel brands and textiles, and diversified its product portfolio to increase revenue.
Gautam Singhania, like his father, who was an aviator, engages in adventurous activities, including racing fast cars on circuits around the world.
