Yusuff Ali Musaliam Veettil Abdul Kader is the Chairman and Managing Director of LuLu Group International. For the unversed, the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall is managed by the company. Popularly known as M.A Yusuff Ali, the UAE-based Indian businessman, and billionaire has an annual turnover of $7.4 billion. The company employs the largest number of Indians outside India.
M.A Yusuff Ali’s life
Born on November 15, 1955, in Kerala’s Thrissur, M.A Yusuff Ali is married with three children. He lives in Abu Dhabi, UAE. Sabeena, his elder daughter is married to billionaire businessman Shamsheer Vayalil. His other daughter Shafeena is the wife of Adeeb Ahamed, the man behind Lulu International Exchange and Twenty14 Holdings.
M.A Yusuff Ali’s education
M.A Yusuff Ali went to Karanchira at St. Xavier’s High School. He then studies Business Management and Administration. After completing his education, he decided to move to Abu Dhabi and learn business from his uncle MK Abdullah. M.A Yusuff Ali decided to set-up the import and wholesale distribution of the group and started Lulu Hypermarket in 1990.
M.A Yusuff Ali’s career
M.A Yusuff Ali began his business in India in 2006 when he opened a convention centre cum hotel in Kerala’s Thrissur. He named it Lulu Convention Centre. In 2013, he managed to acquire 4.99 per cent of the Catholic Syrian Bank (CSB) and also of Dhanlaxmi Bank. In the same year, he increased his stake in the Aluva-based Federal Bank to 4.47 per cent. That’s not all, M.A Yusuff Ali acquired 2 per cent stake in South Indian Bank in 2014. He purchased the Scotland Yard Building in London in 2016.
Lulu Group’s first mall was opened in Kochi in 2013. M.A Yusuff Ali opened another shopping mall in Kerala in 2019. He then expanded and opened malls in Bengaluru and Lucknow.
M.A Yusuff Ali’s net worth
He was ranked number one in the Top 100 Indian business owners in the Arab World 2018 by Forbes Middle East. He has an estimated net worth of $5.3 billion, Forbes reported.
He is also involved in several social, humanitarian, and charitable activities in India and the Arab States of the Gulf.
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