Indian billionaire, insulted by Rolls-Royce Dubai showroom, expands collection with fleet of luxury cars
PTC News Desk: Joy Alukkas, the chairman of the renowned jewellery group Joyalukkas, recently shared a memorable story about his first Rolls-Royce purchase and the incident that spurred his interest in luxury cars. Alukkas, 67, who is the 50th richest person in India with a net worth of $4.4 billion, detailed the experience in an interview with CNBC-TV18.
The incident occurred in 2000 when Alukkas visited a Rolls-Royce showroom in Dubai. During his visit, a staff member approached him and asked what he was looking for. Alukkas expressed his interest in viewing a Rolls-Royce. However, he was met with a dismissive response from the staff, who suggested he visit a Mitsubishi showroom instead if he was serious about buying a car.
Feeling slighted by the staff's attitude, Alukkas decided to make a statement by purchasing a Rolls-Royce. Despite his initial decision, he later felt the luxury car was not necessary and chose to give it away as part of a raffle draw conducted by his jewellery chain in the UAE.
This year, in March, Joy Alukkas added to his collection with the acquisition of a Rolls-Royce Cullinan, valued at ₹6 crore.
Joy Alukkas, who left school early, ventured to the Middle East in 1987 to open his family's first overseas jewellery store in Abu Dhabi. He later separated from his father's jewellery business to establish his own brand, Joyalukkas. Today, Joyalukkas boasts 100 outlets in India and 60 international locations, employing over 9,000 staff. The group also operates the world's largest gold jewellery retail outlet in Chennai.
Alukkas's wealth has significantly increased over the past decade, rising from $2.8 billion in 2023 to $4.4 billion, according to Forbes. He is currently ranked 712th on Forbes' Billionaires List for 2024.
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- With inputs from agencies
