Nawaz Modi Singhania, estranged from Gautam Singhania, has asked for 75% of his $1.4 billion net worth in a divorce settlement. Singhania proposed a family trust, which Nawaz rejects..
Nawaz Modi Singhania, the ex-wife of Gautam Singhania, wants 75% of his $1.4 billion net worth for herself and their two daughters.
Singhania wants to create a family trust with him as the sole trustee to manage and transfer family assets. His relatives would inherit the money. Meanwhile, Nawaz rejects this deal.
The trust fund has three stakeholders: the settler (who provides the funds), the trustee (who administers them), and the beneficiary.
Gautam Singhania, billionaire, divorced Nawaz Modi, daughter of solicitor Nadar Modi. This pair married in 1999 and has been together for 32 years.
Singhania, chairman and managing director of textiles-to-real estate Raymond Ltd., wrote on social media, “This Diwali will be different. I think Nawaz and I will go our separate ways.”
Conclusion
Nawaz Modi Singhania, Gautam Singhania’s ex-wife, wants 75% of his $1.4 billion net worth for herself and their two daughters. Singhania suggested creating a family trust with him as the only trustee to manage and transfer family assets. Trust fund stakeholders include the settler, trustee, and beneficiary. The 1999 bride and groom have been together for 32 years. Singhania wrote on social media that Diwali will be different this year and that Nawaz and he will take different roads.
