Last updated on September 29th, 2024 at 07:22 pm
Want to know who are the Top 10 Richest people in Kerala in 2024? Then read this blog post to discover a rich list of Kerala’s billionaires
The richest Malayali list in this post is based on the latest net worth figures and information available from reliable sources.
Introduction
Kerala has gifted India with some very talented athletes and artists. Also, we can see well-skilled Malayalis in every field.
When you hear Kerala, you probably think of beautiful backwaters, lush coconut groves, delicious cuisine, Onam, Malayalam cinema and perhaps the world’s richest temple, the Padmanabha Swamy Temple.
However, Kerala has also gifted the world with entrepreneurs who are rich with their hard work and foresight.
Maybe, if you are employed in the Middle East, there is a chance the owner/employer could be a Malayali.
Top 10 Richest People in Kerala
Now we are moving deep into Malayali billionaires and from among them, we will explore the top 10 richest people in Kerala in 2024.
Let’s jump in.
Updated List of Top Richest People in Kerala 2024 (as of 29/09/2024)
| Rank | Name | Wealth in Billion USD | Wealth in Crore Rupees | Updated On |
|---|---|---|---|---|
| 1 | M.A. Yusuff Ali | $7.2 B | ₹60,232.40 | 29/09/2024 |
| 2 | T.S. Kalyanaraman | $5.4 B | ₹45,169.68 | 29/09/2024 |
| 3 | Kris Gopalakrishnan | $4.3 B | ₹36,033.56 | 29/09/2024 |
| 4 | Sunny Varkey | $3.5 B | ₹29,293.40 | 29/09/2024 |
| 5 | Joy Alukkas | $3.4 B | ₹28,470.80 | 29/09/2024 |
| 6 | Ravi Pillai | $3.4 B | ₹28,470.80 | 29/09/2024 |
| 7 | Shamsheer Vayalil | $3.0 B | ₹25,109.60 | 29/09/2024 |
| 8 | P.N.C. Menon | $3.1 B | ₹25,920.92 | 29/09/2024 |
| 9 | S.D. Shibulal | $2.2 B | ₹18,413.84 | 29/09/2024 |
| 10 | George Alexander Muthoot | $1.9 B | ₹15,880.88 | 29/09/2024 |
| 11 | George Thomas Muthoot | $1.9 B | ₹15,880.88 | 29/09/2024 |
| 12 | George Jacob Muthoot | $1.9 B | ₹15,880.88 | 29/09/2024 |
| 13 | Sara George Muthoot | $1.9 B | ₹15,880.88 | 29/09/2024 |
| 14 | Kochouseph Chittilappilly | $1.8 B | ₹15,068.16 | 29/09/2024 |
1. M A Yusuff Ali
- Net Worth as of 29/09/2024 : $7.2 Billion (₹60,232.40 crores)
- Designation: Chairman and Managing Director of LuLu Group International
Do you have the question “Who is the richest Malayali in Kerala” in your mind? Here is the answer. Lulu Group founder and managing director MA Yusuff Ali is the richest Malayali in the world and he stands in the first position on the list. In addition, he is also one of the Keralites on the India rich list and positioned at 27th.
Early Life
M. A. Yusuff Ali was born on 15th November 1955 in Natika, Thrissur, Kerala, in a Muslim family. He completed his schooling at St. Xavier’s High School, Karanjira and gained a Diploma in Business Management and Administration. In 1973, he moved to Abu Dhabi, joined his uncle’s business and began his career in retail.
Turning Point of Life
The 1990s were a significant time for Yousafali, who opened the first Lulu Hypermarket. The move comes amid significant change in the UAE’s retail sector, with the introduction of large neighborhood stores and hypermarkets becoming a key player in transforming Abu Dhabi’s retail landscape.
M A Yusuff Ali’s Net Worth
As of September 2024, Forbes listed MA Yusuf Ali as the 27th richest Indian with a net worth of US$7.2 billion and the richest Malayali in the world. His leadership at Lulu Group International saw the company achieve an annual turnover of US$8.4 billion and employed many Indians outside their home country.
2. T.S. Kalyanaraman
- Net Worth as of 29/09/2024 : $5.4 Billion(₹45,169.68 Crores)
- Designation: Chairman and Managing Director of Kalyan Jewellers and Kalyan Developers
Early Life
T.S. Kalyanaraman was born on 23 April 1947 in a Tamil Brahmin family in Thrissur, Kerala, India. The eldest son of T.R. Seetharamaiyer, Kalyanaraman was introduced to the family business at the age of 12 by helping their father in their shop. His academic journey led him to pursue Commerce at Sri Kerala Varma College.
Turning Point of Life
A significant moment in Kalyanaraman’s career was in 1993, when Kalyanaraman launched his first jewelry store, Kalyan Jewellers, in Thrissur City with a seed capital of ₹50,00,000. His entrepreneurial drive led to the expansion of his business to 32 showrooms across South India, signaling a major growth phase.
T.S. Kalyanaraman’s Net Worth
Kalyanaraman’s success is known worldwide. In 2016, Forbes ranked him 1476th among global billionaires. As of September 2024, his net worth is $5.4 billion, according to Forbes. This honor reflects his dedication and vision in the jewelry industry.
3. Senapathy Gopalakrishnan
- Net Worthas of 29/09/2024 : $4.3 Billion(₹36,033.56 Crores)
- Designation: Chairman of Axilor Ventures, co-founder and former CEO of Infosys
Early Life
Senapati “Kris” Gopalakrishnan was born on April 5, 1955, in Thiruvananthapuram, Kerala, India. He completed his education at IIT, Madras and obtained his M.Sc. in Physics in 1977 and M.Tech. in Computer Science in 1979. Gopalakrishnan started his professional career as a software engineer at Patni Computer Systems, Mumbai in 1979.
Turning Point of Life
A turning point in the life of Chris Gopalakrishnan was co-founding Infosys, a global leader in technology services and consulting. He has held key roles in the company as Chief Executive Officer and Managing Director from 2007 to 2011. Then as Vice Chairman from 2011 to 2014. His leadership has been influential in making Infosys a leader in the IT industry.
Senapathy Gopalakrishnan’s Net Worth
As of September 2024, Forbes estimates Kris Gopalakrishnan’s net worth to be $4.3 billion. He is the fourth richest person among the richest Malayalis with ₹36,033.56 Crores.
His investments span across many sectors comprising healthcare research and startups. It reflects his commitment to promoting innovation and entrepreneurship in India and beyond.
4. Sunny Varkey
- Net Worth as of 29/09/2024 : $3.5 Billion(₹29,293.40 Crores.)
- Designation: Founder and Executive Chairman of the global advisory and educational management firm GEMS Education.
Early Life
Born on April 9, 1957, in Ranni, Kerala, India, Sunny Varkey’s educational journey started early, shaped by his educator parents. They moved to Dubai in 1959. During his formative years, he went back to Kerala for schooling, where he completed his O-levels and A-levels. This laid the groundwork for his future in education and entrepreneurship.
Turning Point of Life
A turning point in Varkey’s life came in 1980 when the local authority converted his parents’ school, Our Own English High School, into a purpose-built institution. Upon taking over, Varkey expanded the school from fewer than 400 students to a large chain, eventually founding GEMS Education. Now, it’s the largest operator of private K-12 schools worldwide. This marked the beginning of his journey as a distinguished educational entrepreneur.
Sunny Varkey’s Net worth
Based on available data from Forbes, as of September 2024, Sunny Varki’s net worth is US$3.5 billion. His significant contributions and leadership in the field of education through his philanthropic work through GEMS Education and the Varkey Foundation underscore his position as a leading figure in global education.
Read Also: 44 Lesser Known Facts about Kerala People
5. Joy Alukkas
- Net Worth as of 29/09/2024: $3.4 Billion (₹28,470.80 crores)
- Designation: Chairman and Managing Director of Joyalukkas Group
Joy Alukkas is the second richest Malayali on the list of Kerala billionaires.
Early Life
Born on October 29, 1956, in Thrissur, Kerala, Joy Alukas grew up in a family deeply rooted in the jewelry business. His father, Varghese Alukas, was a jeweler and this industry tiled the way for Joy’s future.
Turning Point of Life
At a turning point in his life in 2001, Joy Alukas established Joy Alukkas Jewellery. The group expanded its presence not only in Kerala’s Thrissur but also in Dubai, revolutionizing the gold and diamond jewelry market.
Joy Alukkas’s Net Worth
According to a Forbes report, Joy Alukasin’s net worth is $3.4 billion (as of September 2024), making him one of the most successful entrepreneurs in the jewelry industry.
6. B Ravi Pillai
- Net Worth as of 29/09/2024 : $3.4 Billion (₹28,470.80 Crores.)
- Designation: Founder and Chairman of the RP Group
Early Life
B. Ravi Pillai was born on 2 September 1953 in a farming family in Chavara, a coastal town in Kollam, Kerala, India. He studied commerce at Cochin University, laying the foundation for his future entrepreneurial ventures.
Turning Point of Life
The turning point in Pillai’s life was when he moved to Saudi Arabia in 1978 and started a modest trading business. This venture marked the commencement of his journey into the construction industry. By 1980, with 150 employees, he founded Nasser S. Al Hajri Corporation (NSH). Over time, NSH has grown to become the flagship company of the RP Group, a conglomerate employing more than 70,000 people across various sectors.
B Ravi Pillai’s Net Worth
As of September 2024, B. Ravi Pillai’s net worth is US$ 3.4 billion. His business empire spans the Middle East and India, including major interests in the manufacturing, hospitality and healthcare sectors.
7. Shamsheer Vayalil
- Net Worth as of 29/09/2024 : $3.0 Billion (₹25,109.60 Crores.)
- Designation:
Early Life
Shamsheer Vayalil was born in Kerala, India. He hails from a family with a strong entrepreneurial background, which influenced his career path from a young age. He pursued his higher education in medicine, earning a degree that laid the foundation for his future ventures.
Turning Point of Life
A pivotal moment in Vayalil’s career came when he founded VPS Healthcare in 2007. His vision to provide high-quality healthcare services led to rapid expansion, and VPS Healthcare became one of the largest healthcare providers in the region, encompassing several hospitals and clinics.
Shamsheer Vayalil’s Net Worth
As of September 2024, Shamsheer Vayalil’s net worth is estimated at $3.0 billion, making him a prominent figure in the healthcare industry. His achievements reflect his commitment to innovation and excellence in healthcare services.
8. PNC Menon
- Net Worth as of 29/09/2024 : $3.1 Billion(₹25,920.92 Crores)
- Designation: Founder and Chairman of Sobha Group
Early Life
Puthan Naduvakkatt Chenthamaraksha Menon, also known as P. N. C. Menon was born on November 17, 1948, in Vadakkencherry, now part of Palakkad, Kerala, India. Raised in Thrissur where his father ran a business, Menon experienced hardship early when he lost his father at age 10. Although he began his studies at Sree Kerala Varma College in Thrissur, he dropped out to start a career in interior decoration.
Turning Point of Life
At the age of 26, Menon moved to Oman, beginning his transformation from a young entrepreneur to a global business magnate. His interior decorating business flourished there and in 1995 he established Sobha Limited in Bangalore in the name of his wife. This step laid the foundation for his vast real estate empire.
PNC Menon’s Net Worth
There is no data about his net worth that is officially available. However, according to Forbes PNC Menon’s net worth as of September 2024 is $3.1 Billion.
9. S.D. Shibulal
- Net Worth as of 29/09/2024 : $2.2 Billion(₹18,413.84 Crores)
- Designation: Co-Founder, Infosys and Axilor Ventures
Early Life
S.D. Shibulal was born on March 1, 1955, in Alappuzha, Kerala. As an only child, his parents wanted him to pursue a permanent teaching career. However, Shibulal’s desires took him elsewhere. He completed his graduation from S.D. College, Alappuzha, followed by M.Sc. Studied Physics at Maharaja’s College, Ernakulam. His thirst for knowledge led him to Boston University, where he earned an M.S. degree in Computer Science in 1987.
Turning Point of Life
In 1981, Shibulal, one of the founders of Infosys, made a big change in his life by entering the IT industry. He played a key role in creating Infosys’ global delivery model, which changed how outsourced IT services were done. Shibulal’s leadership and ideas have helped turn Infosys into a modern global consulting and IT services company.
S.D. Shibulal’s Net Worth
As per reports, Shibulal and his family hold a 2.2% stake in Infosys, valued at approximately $2.2 billion. This significant wealth reflects his accomplished career and the influence of his efforts on the development of the IT sector and Infosys.
10. George Alexander Muthoot
- Net Worth as of 29/09/2024 : $1.9 Billion (₹15,880.88 Crores)
- Designation: Managing Director of Muthoot Group
Early Life
Born on September 16, 1955, in Kozhencherry, Kerala, George Alexander Muthoot began his education at St. Thomas College. He excelled in his Bachelor of Commerce degree, ranking first in the state. His academic success continued with a Chartered Accountancy, achieving an All India rank of 18 in the final exams. Growing up in a family with deep roots in the chit-fund business, George was destined for a future in finance from an early age.
Turning Point of Life
In February 1993, George Alexander Muttoot’s career changed when he became the Managing Director of the Muthoot Group. He led the group to expand into more than 16 industries across four countries and made Muthoot Finance India’s top gold loan company. His creative approach to banking won him a PhD and greatly grew the Group’s presence.
George Alexander Muthoot’s Net worth
George Alexander Muthoot’s exact net worth has not been disclosed publicly. But, based on the data from trusted sites like Forbes, reports George Alexander Muthoot’s net worth is US$1.9 Billion as of September 2024.
11. George Jacob Muthoot
- Net Worth as of 29/09/2024 : $1.9 Billion (₹15,880.88 Crores)
- Designation: Chairman of The Muthoot Group
Early Life
George Jacob Muthoot started his career in a family known for entrepreneurship. He was born into the Muthoot family, which started its business in 1887 with timber and food grain companies. Here, George took over the family’s legacy. He studied engineering at Manipal University, which gave him a strong base. This education helped him develop the analytical skills necessary for the business world.
Turning Point of Life
George’s life changed dramatically when he and his two brothers joined India’s largest gold loan company, Muthoot Finance. He led the company to grow across the country, opening more than 5,400 branches and serving more than 200,000 customers every day. The tragic death of his elder brother M.G. George Muthoot, pushed George into a more responsible role in the company.
George Jacob Muthoot’s Net Worth
As per the latest information, George Jacob Muthoot’s net worth is US$ 1.9 billion (as of September 2024). His wealth history, detailed by Forbes, underscores a successful career built on the pillars of financial services. Based in Thiruvananthapuram, India, George continues to influence the financial sector, reinforcing a rich family legacy and personal commitment to excellence.
12. George Thomas Muthoot
- Net Worth as of 29/09/2024 : $1.9 Billion(₹15,880.88 Crores)
- Designation: Managing Director of Muthoot Capital Services Limited
Early Life
Born into a family with a rich tradition of entrepreneurship, George Thomas Muthoot decided to make his mark in the business world. George set out with his brothers to carry forward this legacy, deeply rooted in the ethos of hard work and innovation.
George Thomas Muthoot’s Net Worth
Based on Forbes data, George Thomas Muthoot’s net worth is US$ 1.9 Billion (as of 29/09/2024)
13. Sara George Muthoot
- Net Worth as of 29/09/2024 : $1.9 Billion(₹15,880.88 Crores)
- Designation: Managing Director of Muthoot Capital Services Limited
Early Life
Sara George Muthoot was born into the prominent Muthoot family in India. Growing up in a business-oriented environment, she developed an early interest in finance and entrepreneurship. Her academic pursuits included studying business management, which equipped her with essential skills for her career.
Turning Point of Life
A significant milestone in Sara’s career was her involvement in the family business, Muthoot Group, which she helped modernize and expand. Under her leadership, the company diversified its services beyond traditional finance, enhancing its market presence and reputation.
Sara George Muthoot’s Net Worth
As of September 2024, Sara George Muthoot’s net worth is estimated at $1.9 billion. Her strategic vision and leadership have played a crucial role in the growth of the Muthoot Group, making her a noteworthy figure in the financial sector.
Conclusion
Now you know who the top 10 richest people in Kerala in 2024 are. Remember, their rankings can change often (even every day) because market changes can impact their wealth. I hope this article was useful to you. Please think about sharing it with your friends and family, and thank you for reading!
