Meet MA Yusuff Ali, a man whose remarkable journey from Kerala to the UAE has resulted in the creation of a business empire worth Rs 66,000 crore. Here’s his inspiring story:
MA Yusuff Ali, a Kerala native who has risen to become one of the wealthiest Indians residing in the UAE, is the driving force behind the astounding success of the LuLu Group. This retail billionaire presides over a colossal $8 billion (over Rs 66,000 crore) revenue-generating conglomerate, renowned for its expansive shopping malls.
Yusuff Ali’s entrepreneurial prowess was demonstrated in 2015 when his hospitality investment firm, Twenty14 Holdings, executed one of the most significant real estate transformations globally. The company acquired the former headquarters of London’s police force, an iconic property in the UK capital, for a staggering Rs 1,025 crore. Subsequently, this historic edifice underwent a spectacular makeover, evolving into the opulent Great Scotland Yard hotel, featuring seven floors, 153 rooms, and 15 suites. The transformation required an additional investment of Rs 512 crore, culminating in the hotel’s grand opening in 2019.
Hailing from Kerala’s Thrissur district, Yusuff Ali embarked on his journey to Abu Dhabi in 1973. He initially joined a small distribution business managed by his uncle, eventually branching out to establish his independent ventures. The inauguration of the first LuLu hypermarket in the 1990s marked the inception of his retail empire, which rapidly gained widespread popularity.
The Astounding Journey of MA Yusuff Ali: From Kerala to Building a Rs 66,000 Crore Business Empire
Today, Yusuff Ali stands among the 500 wealthiest individuals globally, earning the moniker of the “retail king” of the Middle East. His corporate empire encompasses 272 stores and shopping malls across the world. In a significant development in 2020, the royal family of Abu Dhabi acquired a 20 percent stake in his LuLu Group, valuing the company at $1 billion.
The Astounding Journey of MA Yusuff Ali: From Kerala to Building a Rs 66,000 Crore Business Empire
The LuLu Group has also made substantial inroads in India, launching multiple malls in recent years. Additionally, the group holds ownership of the iconic Waldorf Astoria hotel in Scotland. Beyond his business acumen, Yusuff Ali is recognized for his philanthropic endeavors and ranks among India’s most charitable individuals. His son-in-law, Shamsheer Vayalil, shares the billionaire status, contributing to the family’s entrepreneurial legacy.
As of now, MA Yusuff Ali’s net worth stands at an impressive Rs 48,800 crore ($5.9 billion), a testament to his unwavering dedication and visionary leadership in the realm of business and commerce.