Kerala’s Richest Man: The Story of M A Yusuff Ali
Meet Kerala’s Wealthiest – M A Yusuff Ali
In the bustling landscape of India’s business elite, where titans like Mukesh Ambani and Gautam Adani reign supreme, there’s a name that’s been carving its own empire: M A Yusuff Ali. Hailing from the vibrant state of Kerala, known for its rich cultural heritage and academic prominence, Yusuff Ali stands tall as one of the most prosperous Indians. Last year, Forbes India ranked him as the 35th richest Indian on their illustrious Rich List of 2022.
The Man Behind the Name
But who exactly is M A Yusuff Ali? At his core, he is an Indian retail magnate with a compelling story. Born in Thrissur, Kerala, Yusuff Ali is better known as Yusuff Ali Musaliam Veettil Abdul Kader. He is the driving force behind the Lulu Group, where he serves as the Chairman and Managing Director. The Lulu Group is a global behemoth with a footprint in 23 countries spanning the Middle East, Asia, the United States, and Europe. With a workforce of over 65,000 and an astonishing annual revenue of approximately $8 billion or Rs 66,000 crore, the Lulu Group is a force to be reckoned with.
The Wealth Accumulated
According to the Forbes India Rich List, M A Yusuff Ali, helming the Lulu Group, has claimed the top spot among Kerala’s wealthiest and secured the 35th position nationally. His net worth in 2022 was a staggering Rs 43,612.56 crore, which translates to a whopping $5.4 billion. However, Yusuff’s fortune has only grown since then, and it currently stands at an astonishing $7.1 billion, equivalent to a mind-boggling Rs 5,91,18,15,00,000.
The Journey to Success
Yusuff Ali’s journey to the pinnacle of wealth and success is a testament to hard work and determination. Armed with a diploma in business management and administration, he embarked on his career in 1973 when he left his hometown to join his uncle’s small distribution company in Abu Dhabi. The 1990s witnessed the birth of the first LuLu superstore, marking a pivotal moment in his entrepreneurial journey.
LuLu Group: A Global Giant
The LuLu Group, headquartered in the capital of the United Arab Emirates, Abu Dhabi, is most renowned for its expansive network of beloved shopping centers and hypermarkets that cater to a diverse clientele. It’s in the Gulf region where the LuLu brand shines the brightest, providing a wide array of products and services to a multi-ethnic community, earning the loyalty and trust of countless customers.
A Man of Many Facets
Beyond his commercial endeavors, M A Yusuff Ali actively engages with several organizations and plays a vital role in community development. His personal life is equally inspiring; he is married to Shabira Yusuff Ali, and the couple is blessed with three children. Their eldest daughter, Sabeena, is married to healthcare entrepreneur and multibillionaire Shamsheer Vayalil.
In a world where business magnates often emerge from metropolitan cities, M A Yusuff Ali’s journey from Kerala to becoming one of India’s wealthiest individuals is a remarkable tale of vision, hard work, and a commitment to both business and society. As he continues to lead the Lulu Group to new heights, his story serves as an inspiration to aspiring entrepreneurs everywhere.