Indian billionaire insulted by Rolls Royce Dubai showroom now owns a fleet of luxury cars

Billionaire Joy Alukkas added another Rolls Royce to his fleet of luxury cars earlier this year.

Updated on: Aug 28, 2024, 08:28:05 IST

By Shylaja Varma

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Joy Alukkas, the chairman of jewellery group Joyalukkas, recently recalled the time he bought his first Rolls Royce and the incident that prompted him to acquire the luxury car. Alukkas, 67, is the 50th richest person in India with a net worth of $4.4 billion.

A school dropout, Joy Alukkas went to the Middle East to open the family's first overseas store in 1987 in Abu Dhabi. (File)

It was the year 2000 when the Malayali businessman visited a Rolls Royce showroom in Dubai, UAE. A staff member at the glitzy showroom approached Alukkas and asked him what he wanted.

"I said I want to see the car, a Rolls Royce," Alukkas told CNBC-TV18 in an interview.

He then recalled being told by the showroom staff: "No, no, no. If you want to buy a car, you go to the Mitsubishi showroom, you will get a car there," the staff reportedly told Joy Alukkas whose jewellery chain is headquartered in Thrissur, Kerala.

"Then I thought... I felt ashamed with this type of behaviour I decided to buy a car...the same care. I purchased it," Alukkas said. After buying the Rolls Royce, he felt that he did not need the ultra luxury car and so, decided to gift the car to the winner of an annual raffle draw that his jewellery chain ran in the UAE.

In March this year, Joy Alukkas reportedly bought his latest luxury car, a Rolls-Royce Cullinan, worth ₹6 crore.

(Also Read: Billionaire Nikhil Kamath's dinner at liquor baron's home in Delhi ends with Rolls Royce, Bentley)

Who is Joy Alukkas?

A school dropout, Alukkas went to the Middle East to open his family's first overseas store in 1987 in Abu Dhabi. Later, he broke off from his father's jewellery company to launch his own Joyalukkas brand, which now has 100 outlets spread across India and 60 overseas with over 9000 employees. The group also owns the world's largest gold jewellery retail outlet in Chennai.

His wealth has seen a steady rise in the last decade, shooting up from $2.8 billion in 2023 to $4.4 billion, according to Forbes. He is ranked at the 712th spot on Forbes Billionaires List 2024.

(Also Read: Indian businessman takes Range Rover with Kerala number plate to Dubai, parks it outside Burj Khalifa)

ABOUT THE AUTHOR
Shylaja Varma
Shylaja Varma is the Trending Editor at Hindustan Times. Having worked in some of India’s top newsrooms, she has established herself as a keen observer of internet culture. Her work often bridges the gap between fast-paced digital developments and traditional reportage. From writing about the human toll of disasters and decoding the hottest memes to tracking what Elon Musk, Indian CEOs, billionaires and tech leaders are doing on social media, Shylaja’s editorial lens is defined by accuracy, speed and a deep understanding of the online landscape. She also writes stories about Indians abroad, the NRI life and struggles. She also has a keen eye for stories about Bengaluru and its startup and IT culture, having grown up in the Karnataka capital and seen its evolution. Prior to her current role, Shylaja spent several years at CNN-News18, NDTV and Moneycontrol, where she honed her skills in real-time news reporting and digital storytelling. She started her career in television news, reporting from Bengaluru and New Delhi. Shylaja built Moneycontrol’s Trends vertical and set up the team, turning it into a high-traffic destination. She also did video interviews for events like Startup Conclave and The Creator Economy Summit A microbiology graduate from Mount Carmel College, Bengaluru, she went on to complete a Master’s in Journalism and Audio-Visual Communication from COMMITS, Bengaluru.Read More

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