Joy Alukkas, president of the Joyalukkas jewellery group (File photo)
Photo: Twitter
Joy Alukkasthe president of the Joyalukkas Jewellery group Alukkas recently shared the story behind his first Rolls Royce purchase and the incident that led him to buy the luxury car. At 67, Alukkas is the 50th richest person in India, with a net worth of $4.4 billion, according to Forbes.
The story goes back to 2000, when Alukkas, a Malaysian businessman, visited a Rolls Royce showroom in Dubai. When a staff member approached him and asked what he was looking for, Alukkas replied, “I told him I wanted to see the car, a Rolls Royce,” he told CNBC-TV18 in an interview.
However, Alukkas received a dismissive response from the staff: “No, no, no. If you want to buy a car, go to the Mitsubishi dealership, they will give it to you there.” Feeling insulted, Alukkas decided to buy a Rolls Royce in response to the snub. After purchasing the car, he realised that he did not need such an extravagant vehicle, so he decided to give it away as a prize in an annual raffle organised by his jewellery chain in the UAE.
In March this year, Joy Alukkas added another luxury car to her collection, purchasing a Rolls-Royce Cullinan worth Rs 60 crore.
Alukkas dropped out of school and in 1987 moved to the Middle East to open his family’s first store abroad in Abu Dhabi. Later, he ventured out on his own to create the Joyalukkas brand. Today, Joyalukkas has 100 outlets in India and 60 in other countries, and employs over 9,000 people. The group also owns the world’s largest gold jewellery retail store in Chennai.
Alukkas’ wealth has grown significantly over the past decade, rising from $2.8 billion in 2023 to $4.4 billion, according to Forbes. He is currently ranked 712 on Forbes’ list of billionaires for 2024.
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