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# 412 M A Yusuff Ali $5.82B

Random fact: Worked to help secure cremation grounds for Hindus in the Gulf.


Yusuff Ali is the founder and managing director of LuLu Group International, an operator of supermarkets, shopping malls and hotels in the Middle East, Asia, Africa and the UK. The Abu Dhabi-based group has annual revenue of about $7.4 billion. Its LuLu Hypermarket chain has about 215 stores across the Gulf.

As of :
Last change +$5.81M ( +0.1%)
YTD change -$134M ( -2.3%)
Biggest asset LuLu Hypermarket
Country / Region United Arab Emirates
Age 66
Industry Food & Beverage
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

M A Yusuff Ali's net worth of $5.82B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

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Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

Yusuff Ali's fortune derives from his ownership of LuLu Group International, a closely held, Abu Dhabi-based company that operates in retail, hospitality, real estate, food trading and other industries. The group has annual revenue of $7.4 billion, according to its website as of June 2020. It has about 215 stores across the Gulf, according to its website.

The biggest division is LuLu Hypermarket, which represents about two-thirds of the group's revenue, according to spokesperson Nandakumar Vijayan. It's valued based on the average enterprise value-to-sales and enterprise value-to-Ebitda of three publicly traded peer companies: Abdullah Al Othaim Markets Co, X5 Retail Group NV, Jeronimo Martins SGPS SA and Magnit PJSC.

LuLu's shopping mall division develops and operates shopping centers in the Gulf and India. It's valued based on the average enterprise value-to-sales and enterprise value-to-Ebtida multiples of two publicly traded peers: Jones Lang Lasalle and CBRE GRoup.

The group also operates in food distribution and trading, shipping, tourism and education. The combined revenue for these disparate divisions was about $1.1 billion in 2019, according to a breakdown of revenue from Vijayan. It's valued at one-times sales due to a lack of detailed information about the individual businesses.

Through LuLu Group, Yusuff Ali owns commercial real estate properties -- mainly hotels -- in the Gulf, India and London. He bought the original Scotland Yard site in London for 110 million pounds ($171.2 million) in July 2015.


Birthdate: 11/15/1955
Family: Unknown, No children

M.A. Yusuff Ali was born in Nattika, a village in India's Kerala state, on Nov. 15, 1955. After finishing his schooling, he moved to Abu Dhabi in the United Arab Emirates in 1973 to work at his uncle's small trading company, Emke Group.

Interested in growing the business, he began exploring wholesale food trading and started importing well-known brands of European frozen food products and distributing them to local retailers and catering companies. Soon, Emke was one of the largest food importers and traders in the UAE. Food retailing in the country was dominated by small, independent retailers and informal markets and he saw an opportunity to build a large-format store brand. LuLu Hypermarket opened its first location in 1990, in Abu Dhabi, at the height of the Gulf War.

Yusuff Ali's uncle soon retired to India and his nephew assumed sole ownership of Emke, which he renamed LuLu Group after it's flagship grocery business. As Dubai and Abu Dhabi's infrastructure grew and as they developed a reputation as shopping destinations, the billionaire began to invest in malls, founding a mall developer and management subsidiary. The group manages 16 shopping malls in the UAE and Oman.

In recent years, Yusuff Ali has expanded LuLu Group's operations into India. The business is investing more than half a billion dollars in various real estate projects there, including food processing factories and a convention center in Hyderabad, and a shopping mall and hotel in Uttar Pradesh. In 2015, LuLu group bought the original site of Scotland Yard in London for 110 million pounds ($171.2 million) for the purposes of converting it into a 92,000 square foot hotel.

  • 1955 M.A. Yusuff Ali is born in Kerala state, India.
  • 1973 Moves to Abu Dhabi from India to work for uncle's company.
  • 2014 Opened Abu Dhabi’s largest LuLu hypermarket.
  • 2015 Buys original Scotland Yard site in London for 110 million pounds