MA Yusuff Ali is a well-known billionaire in the retail sector. He is a UAE-based Indian businessman. The 67-year-old is the chairman and managing director of LuLu Group. The group owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall. Its annual turnover is around USD 8 billion (Rs 65800 crore).
MA Yusuff's net worth
According to Forbes, Yusuff Ali has a real-time net worth of USD 5.6 billion as of July 29, 2023. This is around Rs 46,060 crore. He is currently at the 500 position in the list of richest people in the world. He is also India's second-richest billionaire in the fashion and retail sector after Radhakishan Damani. During Covid, he donated USD 6.8 million to fight the pandemic. Yusuff also built and donated a treatment center with 1,400 beds in Kerala, as per Forbes.
Who is MA Yusuff Ali?
He was born in Nattika in Thrissur district of Kerala. His full name is Yusuff Ali Musaliam Veettil Abdul Kader. He holds a diploma in Business Management and Administration. Yusuff Ali left for Abu Dhabi in 1973 to join his uncle's small distribution business. He opened his first LuLu hypermarket in the 1990s.
Headquartered in Abu Dhabi, the capital city of the United Arab Emirates (UAE), the LuLu group is best known in the Gulf through a chain of popular Shopping Malls and Hypermarkets which serve the widest segments of multi-ethnic residents in the region.
Apart from his busy business involvement, Yusuff Ali is equally active on the social front and is associated with various organizations. He is married to Shabira Yusuff Ali. The duo has three children. His elder daughter Sabeena is married to billionaire businessman Shamsheer Vayalil, who runs a separate healthcare business.
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