MA Yusuff Ali, an eminent billionaire in the retail sector, is a renowned UAE-based Indian businessman, serving as the Chairman and Managing Director of the illustrious LuLu Group. This remarkable conglomerate boasts ownership of the global LuLu Hypermarket chain and the prestigious LuLu International Shopping Mall, commanding an impressive annual turnover of approximately USD 8 billion (Rs 65,800 crore).
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The Astounding Net Worth of MA Yusuff Ali
As reported by Forbes on July 29, 2023, MA Yusuff Ali’s real-time net worth stands at an astonishing USD 5.6 billion, equivalent to around Rs 46,060 crore. This remarkable achievement places him at the 500th position among the world’s wealthiest individuals. Notably, he also claims the title of India’s second-richest billionaire within the fashion and retail sector, trailing only behind Radhakishan Damani.
Yusuff Ali’s generosity and philanthropy have also shone during challenging times, as he donated a generous sum of USD 6.8 million to support the fight against the Covid pandemic. Moreover, he exhibited his compassion by establishing and donating a treatment center with a capacity of 1,400 beds in Kerala, as recognized by Forbes.
A Glimpse into the Life of MA Yusuff Ali
Hailing from Nattika in Thrissur district, Kerala, MA Yusuff Ali’s full name is Yusuff Ali Musaliam Veettil Abdul Kader. With a diploma in Business Management and Administration, he embarked on his journey to Abu Dhabi in 1973, where he joined his uncle’s modest distribution business. The visionary entrepreneur later ventured into the retail landscape and established his maiden LuLu hypermarket in the 1990s.
The LuLu Group’s Resplendent Presence
Headquartered in the United Arab Emirates’ (UAE) capital city, Abu Dhabi, the LuLu Group has left an indelible mark in the Gulf region with its chain of popular Shopping Malls and Hypermarkets. These establishments cater to the diverse needs of the multi-ethnic residents, earning widespread acclaim and loyalty.
MA Yusuff Ali’s Beyond-Business Engagements
Beyond his thriving business endeavors, Yusuff Ali actively engages in various social initiatives, showcasing his commitment to giving back to society. He remains associated with several prominent organizations, contributing to the betterment of communities and individuals.
The Personal Aspect of MA Yusuff Ali
In matters of the heart, MA Yusuff Ali is married to Shabira Yusuff Ali, and together, they share the joys of parenthood with their three children. Sabeena, his oldest child, is wed to wealthy businessman Shamsheer Vayalil, who runs a unique healthcare company.
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MA Yusuff Ali’s extraordinary journey from humble beginnings to becoming India’s second-richest billionaire in the retail sector is a testament to his unwavering dedication, vision, and philanthropy. With his visionary leadership, the LuLu Group continues to flourish, leaving a lasting impact on the retail landscape both regionally and globally.
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