M.A. Yusuff Ali – Billionaire

Middle East retail king M.A. Yusuff Ali presides over $7.4 billion (revenue) LuLu Group, with 133 stores in the Gulf region, India, Egypt, Indonesia and Malaysia. New projects include a $300 million investment in Trivandrum in South India that will include a mall, hotel and convention center. The group’s hospitality arm owns Dubai’s first Steigenberger hotel, a German luxury hotel brand and a 50% stake in the newly renovated Sheraton hotel in Muscat. The Scotland Yard Hotel in London will reopen later this year after renovations.

Indian businessman M.A. Yusuff Ali is the head of the Lulu Group and he has an estimated net worth of $1.5 billion as of March 2013 according to Forbes. He also made it to the Forbes Billionaires list for the first time. He is the 35th richest person in India and is ranked 974th on the list of World Billionaires. Mr. Yusuff Ali used to be a part of a small trading business owned by his family. He now manages the Abu Dhabi-headquartered the company whose flagship is the Lulu retail chain with $4.25 billion in sales. Recently, it is ranked by Deloitte as one of the ten fastest growing retailers in the world. It operates a string of hypermarkets, supermarkets, and grocery stores in the Middle East and Africa. It also plans to open its first mall in India. Today, Lulu Group has business interests in healthcare, software, and infrastructure with operations in 21 countries.

Source:

1. forbes

2.therichest.