Raymond's group, Gautam Singhania's estranged wife, Nawaz Modi, demanded 75 percent of his fortune, after separation. Read on to know more!
Raymond Group's chairman, Gautam Singhania, has been going through a difficult phase as he parted ways with his wife, Nawaz Modi Singhania. The couple have been together for 32 years, but they are no longer cordial with each other. According to the latest reports, Nawaz Modi demanded 75 percent of Gautam Singhania's fortune after their divorce.
The divorce will be hard on Gautam Singhania, as his wife, Nawaz, has demanded 75 percent of his net worth as a part of her divorce settlement. According to a report by the Economic Times, Gautam Singhania has tentatively agreed to the demand but also proposed creating a family trust where he would be the sole managing trustee, a term which Nawaz didn't accept.
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According to a report by the Economic Times, Singhania suggested setting up a family trust, and his assets and wealth would be transferred to the trust, meaning that after his death, his family members would inherit his wealth.
For those who don't know, Gautam Singhania is known for his larger-than-life way of living. He is a billionaire businessman who holds the position of chairman and managing director of the Raymond Group, and it is the world's largest producer of suiting garments. According to a report in Forbes, Gautam Singhania has a net worth of USD 1.4 billion, which comes out to be Rs. 11,658 crores.
A video of Nawaz had gone viral, wherein she videographed the moment when she was stopped from attending her husband, Gautam's Diwali party despite getting an invitation. The video had gone viral, wherein Nawaz expressed her disbelief. However, within few hours, Gautam Singhania took to his social media, X, and posted a note that he had parted ways from his partner of 32 years. He wrote:
"This Diwali is not going to be the same as many in the past. Thirty-two years of being together as a couple, growing as parents and always being a source of strength to each other… we traversed with commitment, resolve, and faith as along came the two most beautiful additions of our lives."
Gautam Singhania further revealed that there have been a lot of rumours and gossip surrounding his relationship. He added that he is parting ways with his wife, Nawaz, with whom he tied the knot in 1999, but they will continue to do the best for their two precious diamonds, Niharika and Nisa.
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