Seven Malayalis feature among India’s wealthiest individuals in Forbes’ 2026 list, led by Lulu Group chairman Yusuff Ali with a $5.75-billion fortune. The Muthoot family leads among Malayali business families, while Gautam Adani tops the national rankings, followed by Mukesh Ambani and Savitri Jindal.
Lulu Group chairman Yusuff Ali M.A. has emerged as the richest individual Malayali in Forbes’ 2026 list of India’s 100 richest people, with a reported net worth of $5.75 billion, equivalent to about Rs 55,200 crore.
Yusuff Ali is ranked 47th nationally, placing him ahead of six other Malayalis who feature in the list. The rankings underline the growing presence of entrepreneurs from Kerala in India’s business and wealth landscape, with fortunes spanning retail, jewellery, education, construction, finance and real estate.
Among Malayali business families, the Muthoot family occupies the highest position. With a combined net worth of $9.2 billion, or approximately Rs 88,320 crore, the family is ranked 24th nationally. The family’s wealth reflects the scale of the Muthoot Group’s longstanding presence across financial services and related businesses.
Jewellery entrepreneur Joy Alukkas follows Yusuff Ali among individual Malayalis, with a fortune of $5.4 billion, around Rs 51,840 crore. He is ranked 52nd nationally. His position highlights the continuing strength of Kerala-origin jewellery businesses, which have expanded substantially across India and international markets.
RP Group chairman Ravi Pillai is ranked 71st nationally, with a net worth of $4.1 billion, approximately Rs 39,360 crore. Pillai has built his business interests across sectors including construction, hospitality and healthcare, with a major presence in the Gulf region.
GEMS Education chairman Sunny Varkey is placed 75th nationally with a reported fortune of $4 billion, or about Rs 38,400 crore. His wealth is closely associated with the international expansion of private education and the growth of GEMS Education into a major global school network.
Sobha Group founder PNC Menon occupies the 79th position, with a net worth of $3.8 billion, approximately Rs 36,480 crore. Menon’s business career spans construction and real estate, with the Sobha brand developing residential and commercial projects in India and overseas markets.
Kalyan Jewellers managing director T.S. Kalyanaraman completes the list of seven Malayalis, ranking 87th nationally with a net worth of $3.55 billion, or around Rs 34,080 crore. Kalyan Jewellers has grown from its Kerala roots into a major jewellery retail chain with an extensive presence across India and international markets.
Taken together, the fortunes represented by the seven Malayali entries illustrate the diverse business interests of Kerala-origin entrepreneurs. While retail and jewellery account for several of the fortunes, the list also includes significant wealth generated through finance, education, construction, hospitality and real estate.
At the national level, Gautam Adani and his family occupy the top position, with a reported net worth of $112.7 billion, approximately Rs 10.82 lakh crore. Mukesh Ambani is ranked second with $86.3 billion, or around Rs 8.28 lakh crore.
The year-on-year movement in the fortunes of India’s two richest individuals was markedly different. The Adani family’s wealth increased by $20.7 billion over the previous year, while Ambani’s reported wealth declined by $18.7 billion.
Savitri Jindal of the OP Jindal Group is India’s richest woman, with a net worth of $39.8 billion, around Rs 3.82 lakh crore. Steel magnate Lakshmi Mittal occupies the fourth position nationally with a fortune of $34.7 billion, equivalent to about Rs 3.33 lakh crore.
The Forbes 2026 rankings offer a snapshot of the changing contours of Indian wealth, while the strong representation of Kerala-origin entrepreneurs points to the increasingly global reach of businesses founded or developed by Malayalis. From retail and jewellery to education, finance and real estate, the seven entries reflect the breadth of Kerala’s entrepreneurial footprint.
Discover more from Creative Brands Mag
Subscribe to get the latest posts sent to your email.
Leave a comment