M.A. Yusuff Ali: Entrepreneur /Philanthropist
M.A. Yusuff Ali, born on November 15, 1955, in Nattika, Thrissur, Kerala, is the Chairman and Managing Director of LuLu Group International. A billionaire entrepreneur, he has transformed the retail landscape in the Middle East and India. The LuLu Group, with an annual turnover of $8.4 billion, operates over 100 hypermarkets and malls globally, employing over 65,000 people, including more than 30,000 Indians.
After completing his schooling at St. Xavier's High School, Thrissur, and earning a diploma in Business Management, Yusuff Ali moved to Abu Dhabi in 1973 to join his uncle's business. He diversified the family venture, expanding it into food processing, wholesale distribution, and retail. In the 1990s, he launched the LuLu Hypermarket chain, revolutionizing the retail sector in the UAE.
In India, Yusuff Ali has invested significantly in infrastructure, banking, and retail. His first retail venture, the LuLu International Shopping Mall in Kochi, opened in 2013 and remains one of the largest in the country. Since then, the LuLu Group has established malls in Thiruvananthapuram, Bengaluru, Lucknow, and Hyderabad. He has also acquired stakes in several Indian banks, including the Federal Bank and South Indian Bank.
A committed philanthropist, Yusuff Ali supports numerous charitable initiatives. He contributed ₹9.5 crores for Kerala flood relief in 2018 and pledged ₹50 million during the 2019 floods. His global CSR efforts include adopting schools in Gaza and Nepal and establishing a multi-faith funeral center in Sharjah.
Recognized as one of Forbes’ top Indian business leaders in the Arab world, Yusuff Ali was ranked 39th on Forbes India’s 100 Richest Tycoons list in 2024, with a net worth of $7.4 billion. Beyond his business success, he is deeply involved in social and economic welfare, particularly for the Indian diaspora in the Gulf region, showcasing his enduring commitment to humanity and progress.