Yusuf Ali Net Worth 2024: Want to know how Yusuff Ali, the man behind the massive LuLu Group, went from humble beginnings to a net worth of billions in 2024? Buckle up for a ride through his incredible journey!
This blog peels back the layers of Ali’s success story, revealing the key milestones, daring moves, and sheer entrepreneurial spirit that made him a retail giant. We’ll explore:
- From Kerala to Abu Dhabi: How a small-town boy turned a tiny family business into a global empire.
- Building the LuLu magic: Witnessing the strategies and decisions that transformed LuLu from a store to a household name.
- Beyond groceries: Discovering the diverse ventures and investments that fuel Ali’s net worth.
- Lessons from a billionaire: What we can learn from Ali’s journey about resilience, vision, and building a successful business.
This blog isn’t just about numbers; it’s about the human story behind them. Get ready to be inspired, surprised, and maybe even find a sneaky shopping tip or two!
Who is Yusuf Ali MA?
Yusuff Ali, full name Yusuff Ali Musaliam Veettil Abdul Kader, is an Indian businessman and billionaire. Born on November 15, 1955, he is widely known as M. A. Yusuff Ali. He serves as the chairman and managing director of LuLu Group International, a conglomerate that operates the global LuLu Hypermarket chain and LuLu International Shopping Mall. The LuLu Group is recognized for its significant presence in the retail industry, with an annual turnover of US$8.4 billion.
|Yusuff Ali Musaliam Veettil Abdul Kader
|Date of Birth
|15 November 1955 (age 68)
|Place of Birth
|Nattika, Thrissur, Kerala, India
|Chairman and managing director of
– Lulu Group International
– Y International
– LuLu International Shopping Mall
|Y Tower, Abu Dhabi
|Shabira Yusuff Ali
|Shamsheer Vayalil (son in-law),
Adeeb Ahamed (son in-law)
Yusuf Ali Early Life
Born on November 15, 1955, in Nattika, Thrissur, into a Muslim family, Yusuff Ali commenced his educational journey at St. Xavier’s High School in Karanchira, Kerala. Armed with a diploma in Business Management and Administration, he relocated to Abu Dhabi in 1973, joining his uncle M K Abdullah’s LuLu Group of Companies.
Pioneering the import, wholesale distribution, and subsequently launching the first Lulu Hypermarket in the 1990s, Yusuff Ali navigated the changing landscape of the UAE’s retail sector, establishing LuLu Hypermarket as a prominent player in Abu Dhabi’s retail industry.
Yusuf Ali Career Milestones
From humble family beginnings, Yusuff Ali transformed LuLu Group into a retail powerhouse spanning three continents. Here’s the story:
Early Growth: Starting with import and distribution of frozen goods, Yusuff Ali quickly diversified into food and non-food categories. Soon, cold storages, processing plants, and large-scale distribution expanded their reach, earning them a significant share of the UAE’s food market by the 1980s.
Retail Giant: LuLu Hypermarkets, now a major player in the Middle East, currently boast over 100 stores across the Gulf states. The Group’s portfolio extends beyond hypermarkets, encompassing shopping malls like Khalidiyah Mall and Al Raha Mall, solidifying their presence in the region.
Indian Expansion: Entering India in 2013, LuLu International Shopping Mall in Kochi became the country’s largest mall, followed by another mall in Thiruvananthapuram in 2021. With over 65,000 employees from 42 nations, including 30,000 Indians, the Group’s reach is truly global.
Beyond Retail: Retail remains the company’s backbone, operating in major Middle Eastern and African countries. They also have sourcing and manufacturing bases in the Far East, India, and Africa, with food processing and export operations in India. Recognized as one of the fastest-growing retailers by Deloitte, LuLu Group continues its remarkable journey.
This rephrased version condenses the original text while retaining key information about LuLu Group’s growth, diversification, and global reach. It also highlights the group’s significant presence in India and its recognition as a fast-growing retail giant.
Yusuf Ali Personal Life – Family, Wife & Child
Residing in Abu Dhabi, UAE, M. A. Yusuff Ali is a family man, blessed with three children. His elder daughter, Sabeena, is wed to billionaire Shamsheer Vayalil, while the second daughter, Shafeena, is married to Adeeb Ahamed, overseeing Lulu International Exchange and Twenty14 Holdings.
The youngest daughter, Shifa, is married to Sharoon Shamsudheen, engaged in successful IT ventures. On April 11, 2021, Yusuff Ali, his wife, and three others experienced a helicopter crash near Kochi. Fortunately, both Ali and his wife emerged unharmed, receiving prompt medical attention for the incident caused by adverse weather conditions.
Yusuf Ali Social Presence
While Yusuff Ali isn’t a household name on mainstream social media like Facebook or Twitter, he does maintain a presence in specific online spaces relevant to his interests and business areas.
Instagram: @yusuffali.ma is his official account with 861k followers. He mainly posts business-related content, including store openings, corporate events, and promotional campaigns for LuLu Group International. There are also glimpses into his philanthropic activities and personal life.
Business Websites: LuLu Group websites often feature Yusuff Ali in CEO messages, press releases, and corporate stories. These provide insights into his business vision, leadership style, and contributions to the retail industry.
News Media: As a prominent businessman, Yusuff Ali frequently appears in news articles and interviews related to LuLu Group, philanthropy, and other relevant topics. You can find mentions of him through news aggregators and specific publication websites.
Local Channels: He might be active on regional social media platforms or community forums within the Indian and Arab communities he engages with. These platforms could offer a more personal and localized perspective on his activities.
Limited Personal Presence: Yusuff Ali primarily utilizes social media for professional purposes and doesn’t engage in extensive personal interaction online. You’re unlikely to find him in casual conversations or sharing personal updates.
Yusuf Ali Net Worth 2024
- Estimated net worth: $7.2 billion (as of Jan, 2024) according to Bloomberg Billionaires Index.
- Rank: 429th richest person in the world according to Bloomberg Billionaires Index.
- Source of wealth: Primarily his ownership of LuLu Group International, a retail conglomerate with over 250 hypermarkets and malls across the Middle East, Asia, and Africa.
LuLu Group International is a major player in the retail industry, generating annual revenue of over $8 billion. The group also has interests in hospitality, real estate, and food trading.
Ali’s net worth has been steadily increasing over the years, thanks to the success of LuLu Group International. He is a prominent businessman in the Middle East and is considered one of the richest Indians in the world.
- His net worth has fluctuated in recent years, but it has generally trended upwards. In 2020, his net worth was estimated to be around $4.5 billion. By 2023, it had increased to $6.12 billion.
- The majority of his wealth is tied to LuLu Group International. The company’s success is therefore directly linked to his net worth.
- He is a philanthropist and has donated millions of dollars to various charities. This has had a slight impact on his net worth, but it has also helped to solidify his reputation as a successful businessman with a giving heart.
Overall, Yusuf Ali is a very wealthy man with a net worth that is likely to continue to grow in the years to come. His success is a testament to his hard work, business acumen, and commitment to philanthropy.
Yusuf Ali Philanthrophy Work
Yusuff Ali’s generosity extends far beyond business, deeply impacting communities around the world. He actively supports social, charitable, and humanitarian causes, leaving a trail of positive change across India and the Arab states.
- Education: Through the LuLu Group’s partnership with Dubai Cares, schools in Gaza and Nepal received vital support.
- Disaster Relief: From earthquakes in Gujarat to tsunamis in Asia, Yusuff Ali has consistently stepped up with aid for those in need.
- Community Support: In his homeland, he spearheaded initiatives like opening a multi-faith funeral center in Sharjah and promoting organic products grown by the special needs community through LuLu Hypermarkets.
- Flood Relief: He promptly responded to the devastating Kerala floods, offering both financial aid and rehabilitation efforts.
- Religious Tolerance: Yusuff Ali played a key role in securing land for Christians to build churches and Hindus to have cremation grounds.
- Empowering Expats: He provided crucial assistance to Indians facing challenges during the Gulf amnesty period and the Calicut market fire.
Yusuff Ali’s commitment to helping others shines through his diverse philanthropic efforts, making him a true champion of social responsibility and a beacon of hope for countless individuals and communities.
Yusuf Ali Awards & Honours
Yusuff Ali’s journey isn’t just about building a retail empire; it’s a tapestry woven with recognition and respect. Here’s a glimpse into the tapestry:
- 2004: Bestowed the “Commander” title and St. Ephraim Medal by the Universal Syriac Orthodox Church.
- 2005: Honored with the Pravasi Bharatiya Samman, the Indian government’s highest award for non-resident Indians.
- 2008: Received the Padma Shri, a prestigious Indian civilian award.
- 2010: Acclaimed as “Business Man of the Year” by the Kerala State Forum of Bankers’ Clubs.
- 2012: Recognized with a Lifetime Achievement Award at the inaugural Indian CEO Awards.
- 2012: Applauded for his contribution to Swiss-UAE relations with the Swiss Ambassador’s Award.
- 2012: Named “Most Influential Asian Business Leader in the MENA region” by Forbes Middle East.
- 2012: Earning the title of “Arab Business Leader of the Year” at the Global Arab Business Meeting.
- 2014: Conferred an Honorary D.Litt. by Aligarh Muslim University.
- 2016: Presented with the Archbishop Mar Gregorios Award for his industrial contributions.
- 2018: Awarded Honorary Doctorates from both Middlesex University and Mahatma Gandhi University, Kerala.
- 2021: Distinguished with Abu Dhabi’s highest civilian honor, the Abu Dhabi Award.
- 2021: Secured a long-term residential visa in Oman.
- 2022: Became the first recipient of Bahrain’s Golden Residency Visa.
This list is a testament to Yusuff Ali’s impact on diverse communities and industries. It’s not just a chronicle of awards; it’s a story of tireless dedication, visionary leadership, and a commitment to excellence.
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Q. What is the net worth of Yusuf Ali?
Yusuf Ali’s net worth is estimated to be around $7.2 billion as of Jan, 2024.
Q. Who is the richest man in Kerala, India?
The richest man in Kerala is Yusuff Ali, chairman and managing director of LuLu Group International.
Q. Where is MA Yusuf Ali Born?
This Indian businessman, founder of the LuLu Group International, was born in Nattika, Thrissur district of Kerala, India on November 15, 1955.