W Power 2024

From Forbes World's Billionaires 2024 list debutant to the secret behind Rajasthan Royals' IPL success, here are our top stories of the week

Joy Alukkas' journey to becoming India's richest jeweller, looking at sustainability as a leadership challenge, Srikanth Bolla's extraordinary life story are some of the stories that piqued the interest of our readers this week

Published: May 4, 2024 10:00:00 AM IST
Updated: May 3, 2024 09:14:30 PM IST

Image: ShutterstockImage: Shutterstock

1) India's richest jeweller

Joy Alukkas was born to Kerala-based businessman Alukka Joseph Varghese and was 11th among 15 siblings. He runs the Joyalukkas Group, a jewellery retailer with over 100 outlets across India and 60 overseas. He is listed as the 712th richest man in the world, according to the Forbes World’s Billionaires List 2024. Alukkas is India’s richest jeweller, with a net worth of $4.4 billion, up from $2.8 billion in 2023. Here's a look at Alukkas' story, which has been a massive beneficiary of India's love affair with gold.

2) Accountant at heart

Ravi Pandit is a chartered accountant. In the 1970s, he returned to India after completing his master's programme in management at the MIT Sloan School of Management, specialising in finance and controls. He aimed to expand Kirtane & Pandit, his father's accounting firm, into a global institution. Deloitte and KPMG were the gold standards. While working on the accounting side of the business, he chose to trade a tested path and started building the IT practice. That evolution began with Kirtane & Pandit Information Technology and has become KPIT Technologies, headquartered in Pune. Check out the story of Forbes World's Billionaires 2024 list debutant.

3) Hunting opportunities

Is there something familiar between the Los Angeles Dodgers, Chelsea FC, and the Golden Globe Awards, besides their turbulent times in the recent past? The answer would be Todd Boehly. He is a 50-year-old co-founder and CEO of $70 billion worth Eldridge Industries. All Eldridge's entertainment and sports endeavours are backed by Boehly's rather 'boring but main' business of annuities under Security Benefit Life. The cash from this insurance business has allowed Boehly to acquire more than 100 companies worth almost $10 billion. His playbook matches that of Warren Buffett. Here's how the billionaire does it all.

Discover


1) Inside the Rajasthan Royals high-performance centre

The latest edition of the Indian Premier League (IPL) is becoming even more exciting as the Playoff deadline approaches. This season has been exciting because the dominance of solid teams like Chennai Super Kings and Mumbai Indians has been challenged by Kolkata Knight Riders and Rajasthan Royals (RR). The winners of the first edition of IPL look unstoppable and sit atop the points table. Performances of Sanju Samson, Yashasvi Jaiswal, and Dhruv Jurel are being discussed everywhere, from TV debates to water-cooler conversations. What's the secret behind these flawless performances? It’s the Rajasthan Royals high-performance centre. Find out more about the facility and the programme in the latest episode of Sports UnLtd.

2) Here’s to writing your destiny

Srikanth Bolla was born in July 1991. It took his parents some days after his birth to realise that their son could not see. Everyone insisted they abandon the child, but Bolla's parents refused to entertain the thought and accepted him, thinking he'd sit at home, hear the street dogs entering the house and protect it. “It shows that every creature that comes into this world has some meaningful purpose,” says Bolla. That is the origin story of the founder and CEO of Bollant Industries, who wrote his own destiny. Here, the Forbes Asia 30 Under 30 alumnus gives rare insights into his journey of fighting economic and sociological barriers and talks about his biopic, Srikanth, starring actor Rajkummar Rao.

3) Sustainability: A leadership challenge

In a world where ESG (environment, social, governance) is often reduced to box-ticking and greenwashing by businesses, Rajeev Peshawaria believes that sustainability is a leadership challenge, and entrepreneurs and CEOs should instil a culture of accountability top-down. Discussing his new book on From the Bookshelves of Fores India, Sustainable Sustainability: Why ESG is Not Enough, Peshawaria, the CEO of the Temasek-backed non-profit Stewardship Asia Centre in Singapore, talks about the shifts he sees in global business behaviour with respect to addressing climate and sustainability concerns, and what more needs to be done.

4) Who will the markets favour?

Taher Badshah, CIO of Invesco MF, is wary of market turbulence in the coming months. Having managed stock portfolios across market cycles, he believes risks may outweigh rewards in the second half of the year. “The market may not find it very easy to climb unless earnings growth and corporate profitability surprise materially compared to what current expectations are,” he tells Forbes India in an interview. Check out Market Maven's investment strategy for navigating key downward risks in the second half of the year and his outlook for earnings growth.