Lalit Modi gifts son Ferrari yearly, cites strict upbringing

Lalit Modi is a famous businessman who talked about how he was raised and how he raises his own kids.

He says his father was very strict and did not give him the things he wanted, like a Ferrari car.

When he was a child, he really wanted a Ferrari, but his dad said no.

So when he grew up, he decided to be the opposite kind of parent.

Every year, he gives his son a very expensive Ferrari car as a gift.

His son now has twelve Ferraris.

Modi says this way his son does not feel like he is missing out on anything.

A child psychologist says parents should be careful not to go too far the other way.

She says giving kids everything can make them expect it instead of being thankful.

The best thing is to think about what the child really needs.