What is M.A. Yusuff Ali's Net Worth?
M.A. Yusuff Ali is a prominent Indian businessman with a net worth of $5 billion. He rose to billionaire status as the Managing Director of the Abu Dhabi-based EMKE LuLu Group of companies, known for owning the LuLu Hypermarket chain. The group has an impressive annual turnover of $4.5 billion globally, providing employment to the largest number of Indians outside of India.
Early Life and Career Beginnings
Born on November 15, 1955, in a small Indian village, M.A. Yusuff Ali migrated to Abu Dhabi in the 1970s to join his uncle's business at the EMKE Group of companies. He holds a diploma in Business Management and Administration, which paved the way for his successful ventures in the retail industry. The first Lulu Hypermarket was launched in the 1990s, a significant shift from traditional grocery stores to large neighborhood hypermarkets.
Expansion and Diversification
Currently, LuLu Group International generates $5 billion in revenues and operates over 100 retail outlets across the Middle East, Africa, and India. The company has plans to expand further into India by launching its first mall there. Besides retail, LuLu Group has diversified its interests into healthcare, software, and infrastructure, with operations spanning 21 countries.
Other Business Ventures
Apart from LuLu, M.A. Yusuff Ali owns two Marriot Hotels and a Grand Hyatt Hotel. He also made headlines with his recent bid to acquire a minority stake in the Catholic Syrian Bank, showcasing his strategic investments in diverse sectors.
