Meet Yusuf Ali, Billionaire Who Paid Off Kerala Woman's Loan Was Once A Grocery Store Worker - His Net Worth Is...

New Delhi: An Indian billionaire has stepped in to help a Kerala woman who was recently evicted from her home due to an unpaid loan. Sandhya and her two young children were left without a place to live after officials from a non-banking financial company took possession of their house. MA Yusuff Ali, the chairman of Lulu Group based in Abu Dhabi, instructed his team in India to pay off Sandhya's outstanding loan and also offered her Rs 10 lakh to help her family rebuild their lives.

Why Sandhya Was Evicted From Her Home?Sandhya's story gained attention when local media reported her eviction. She had taken a loan of Rs 4 lakh in 2019 from Manappuram Finance to finish building her home under Kerala's Life Housing Scheme. The house was constructed on a 4.8-cent plot in Madaplathuruth. Unfortunately, after her husband left her and their two children, aged 12 and 7, in 2021, she struggled to make loan repayments. The loan amount grew to nearly Rs 8 lakh over time due to unpaid interest. Eventually, Manappuram Finance began the foreclosure process, leading to her eviction last Monday. The officials changed the locks on her home and did not allow her to retrieve her belongings or essential items, including medicine. Who Is Yusuf Ali?MA Yusuff Ali was born on November 15, 1955, in Thrissur, Kerala. Although he initially aspired to be a lawyer, he joined his father's grocery business in Ahmedabad at a young age. After completing a diploma in business administration, he moved to Dubai in 1973 to work at a relative's grocery store. He took the opportunity to learn about the FMCG market and the supermarket business during his time there. By age 34, he opened his first supermarket in Abu Dhabi, which paved the way for his future success.Today, MA Yusuff Ali is a billionaire businessman who leads LuLu Group International, which generates $7.5 billion in revenue and operates 272 stores across the Gulf and beyond. His company is known for employing a large number of Indians outside India. In 2018, Forbes Middle East ranked him as the top Indian businessperson in the Arab world. Yusuf Ali's Investment In IndiaYusuff Ali has also made significant investments in India, including opening the Lulu Convention Centre and hotel in Kerala and acquiring stakes in several banks. He expanded his business by opening malls in Kochi, Lucknow, and Bengaluru. Recently, a member of the Abu Dhabi royal family invested $1 billion for a 20% stake in LuLu. Yusuf Ali: Personal DetailsMA Yusuff Ali is married and has three children. He resides in Abu Dhabi, and his family includes successful business connections, with his daughters married to prominent businessmen. Yusuf Ali: Net WorthAccording to the Forbes Realtime Billionaire Index, his net worth was approximately 740 crores USD. It will be approximately Rs 651,500,000,000.