Nusli was born into a Parsi family in Mumbai, Maharashtra, India. He is the son of businessman Neville Wadia and Dina Wadia. His maternal grandfather Muhammad Ali Jinnah was the founder of Pakistan, while, his maternal grandmother, Rattanbai Petit was born into two of the elite Parsi families of India, the Petit—Tata family. Nusli is the direct and only descendent of Jinnah and his family. His grandaunt, Fatima Jinnah, was an important figure in the independent Pakistan movement. Though he was born in India, Nusli's Father obtained a British passport for him for the convenience of travel.