M.A. Yusuff Ali Net Worth 2026: LuLu Group Holdings, IPO, and Wealth Breakdown
This is a fact-sheet-style profile of M.A. Yusuff Ali, chairman of LuLu Group International, compiled from Forbes list data and secondary reporting. For the full narrative of his rise, see the detailed account of the Yusuff Ali fortune.
Quick facts
- Full name: Yusuff Ali Musaliam Veettil Abdul Kader (M.A. Yusuff Ali)
- Born: 15 November 1955, Nattika, Thrissur district, Kerala, India
- Arrived in Gulf: 1973, age 18, to work in paternal uncle M.K. Abdullah's Abu Dhabi trading business
- Residence: Abu Dhabi, United Arab Emirates
- Positions: Chairman, LuLu Group International; Chairman, Lulu Retail Holdings (listed)
- Distinction: Richest Malayali (Forbes India 2026)
Net worth timeline (Forbes data)
| Year | Estimate | List / rank |
|---|---|---|
| 2026 (Oct, India list) | $5.75 billion | #47, Forbes India 100 Richest; richest Malayali |
| 2026 (Mar, world list) | $5.8 billion | #720, Forbes World's Billionaires |
| 2025 (Sep, real-time) | $7.0 billion (brief) | ~#547, Forbes Real-Time (unlisted assets included) |
| 2025 (Oct, India list) | $5.85 billion | #49, Forbes India 100 Richest 2025 |
| 2025 (Apr, world list) | $5.4 billion | #742, Forbes World's Billionaires |
Caveat: the November 2024 IPO of Lulu Retail gave the listed portion a precise market value, but the unlisted international operations, mall portfolio, and other holdings are estimated — which is why the real-time figure has swung between $5.3 billion and $7 billion. The $5.75 billion October 2026 India-list figure is the most authoritative single number.
Biography: the key dates
1955 — Born in Nattika, Thrissur district, Kerala.
1973 — Moves to Abu Dhabi at 18 to join uncle M.K. Abdullah's trading business; begins a decade-long commercial apprenticeship.
1990s — Opens the first LuLu Hypermarket in Abu Dhabi, betting on modern retail for the Gulf's expatriate middle class during the economically uncertain Gulf War era.
2000s — Regional expansion: Saudi Arabia, Qatar, Kuwait, Bahrain, Oman. Begins developing LuLu-anchored shopping malls, converting retail into property.
2010s — Global expansion to 22 countries including Egypt, Indonesia, Malaysia. Opens LuLu International Shopping Mall in Kochi, among India's largest. Deloitte ranks the group among the world's fastest-growing retailers.
2018 — Forbes Middle East names him No. 1 Indian business owner in the Arab world.
2024 (Nov) — Lists Lulu Retail on the Abu Dhabi Securities Exchange, raising $1.7 billion — one of the region's landmark IPOs. The retail arm: 267 stores, ~$7.9 billion annual revenue.
2025 — Inaugurates Kerala's tallest twin IT towers in Kochi.
2026 (Mar) — Forbes world list: $5.8 billion, #720; one of 9 Indian UAE expatriates on the list (combined $49.9 billion).
2026 (Oct) — Forbes India list: $5.75 billion, #47, richest Malayali ahead of six other Malayali billionaires.
The IPO: why it mattered
The November 2024 listing was the financial event of Yusuff Ali's career. Key facts:
- Raised: $1.7 billion on the Abu Dhabi Securities Exchange
- Business listed: Lulu Retail Holdings — 267 stores, ~$7.9 billion revenue
- Effect: gave the empire's core a public market valuation for the first time
- Wealth impact: the listed stake became precisely measurable; subsequent Forbes estimates anchor on it, with the unlisted remainder estimated
Wealth breakdown (estimated)
- Listed Lulu Retail stake — the precisely valued core; the single largest component
- Unlisted international retail — operations in 22 countries outside the listed vehicle
- Mall and property portfolio — LuLu-anchored malls including Kochi; 2025 Kochi IT towers
- Cochin International Airport stake — minority holding plus board seat; world's first fully solar-powered airport
- Banking stakes — reported holdings in CSB Bank, Dhanlaxmi Bank, South Indian Bank
- Other Indian investments — real estate and diversified holdings
Philanthropy record
- Covid-19 relief: $6.8 million donated
- Pandemic healthcare: 1,400-bed treatment centre built and donated in Kerala
- Kerala development: Kochi mall and IT tower investments; ongoing education and healthcare support
- Pattern: overwhelmingly directed toward Kerala and crisis response
Personal notes
Yusuff Ali is 70 and remains the operating chairman of both the group and the listed company — a founder who never stepped back into a purely ceremonial role. His management style is famously hands-on, rooted in the decade he spent learning Gulf commerce from the shop floor up. His daughter Shabeena is married to Shamsheer Vayalil of Burjeel Holdings, joining two of Kerala's great Gulf fortunes.
How he compares
On the Forbes India 2026 list, Yusuff Ali ($5.75 billion, #47) outranks fellow Kerala-origin Gulf billionaire Ravi Pillai ($4.1 billion, #71) and jewellery tycoon Joy Alukkas ($5.4 billion). Among the nine Indian expatriates in the UAE on Forbes' 2026 world list, he is the retail representative — the man who fed the demographic everyone else was trying to sell to.
Frequently asked questions
Is Yusuff Ali the richest Malayali? Yes, per Forbes' October 2026 India list ($5.75 billion, #47). The title has occasionally flipped on the real-time tracker — Joy Alukkas briefly led in September 2025 — but the annual list confirms Yusuff Ali.
How many LuLu stores are there? The listed Lulu Retail operates 267 stores in the Gulf; the wider group runs 250+ hypermarkets and malls across 22 countries (figures overlap by reporting scope).
When did LuLu start? Yusuff Ali arrived in Abu Dhabi in 1973; the first LuLu Hypermarket opened in the 1990s.
What is the LuLu Group's turnover? Reported between $7.3 billion and $8.4 billion annually depending on source and year; Lulu Retail alone reports ~$7.9 billion revenue.
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