M. A. Yusuff Ali Net Worth: Founder of LuLu Group International

M. A. Yusuff Ali is a well-known businessman who has created one of the biggest retail empires in the Middle East and India, do you know what we are talking about? Yes, we are pointing out the presence of the LuLu Group International brand, and He is the Founder and Managing Director at the moment. For those who don’t know, he’s particularly the one to rule the hypermarkets and shopping malls niche in many countries across the world. As a result, he is now among the richest people in the world, with a net worth of $7.37 billion in 2024, qualifying him as one of the richest Indians on the continent and placing him at No. 415 on the list of Forbes billionaires.

Early Life and Background

Yusuff Ali, born on November 15, 1955, in Nattika, Thrissur in Kerala, grew up in a Muslim family and went to St. Xavier’s High School in Karanchira seeking education, you know? Later on, though, he always felt keen on business which initially led him to study a diploma course in Business Management and Administration. And just like that, In 1973, he made a life-changing decision to move to Abu Dhabi where he was lucky to get a job with his uncle, M. K. Abdullah, in a fairly small hardware business, the branching of Meyer and Fjal, and this proved to be the very best thing that could happen to him as it really opened the door of knowledge and experience in the business world.

The Founding and Growth of LuLu Group International

Just so you know, the initial stages of LuLu Group International were small family businesses Importing frozen products, and over the years it developed into one of the largest retail companies in the world by Yusuff Ali’s smart growth strategy. The super important decade for the company was the 1990s because it was then that the very first LuLu Hypermarket was launched which was able to ride the trend of larger-scale integration of goods and services that the UAE market was currently keen on, you know?

All in all, the LuLu Group under him went from a small starter to a big success that has grown to 259 outlets in different parts of the world and has over 65,000 people from many nations working with it.

Net Worth and Financial Success

To be honest, a very clear example of Yusuff Ali’s ability and intelligence in the business space was his transformation of a family business into something very big. Like, he started a little business in Abu Dhabi with the family and now he has enlarged it into a very big retail group with a presence on all continents of the world’s retail sector.

Today his wealth has risen to $7.37 billion in the year 2024, a sharp rise from $5.30 billion in the year 2023 which signifies the good work done by the LuLu Group and the financial success of that firm. And if he keeps on going like this, he’ll surely make it past the $10 billion mark as well, we certainly hope for that because of all the hard work he has put in.

Philanthropy and Social Contributions

He has also shown a strong inclination towards philanthropic activities besides his business activities, did you know that? Like what actually? You see, he has made it possible for a great number of charitable programs in India and the Gulf to thrive through funding and public services. His work includes making schools in Gaza and Nepal with Dubai Cares, building a multi-faith funeral center in the area of Sharjah, and creating jobs at the youth center of Abu Dhabi city. Not just that though, during the floods of Kerala in 2018, Yusuff Ali gave ₹9.5 crores for the relief operations which is an indication of his eagerness to assist in providing help to people who are in need in India and beyond.