Top 10 Richest Person in Kerala [2024]

Kerala, one of the richest states in India, is situated on the west coast of India. Its economy stands at $130 Billion in dollar terms.

The economy of Kerala is the 10th largest in India, the state records a high level of rubber production, and pepper, and those two products alone contribute significantly to the total output. There is also a growing production of coconut, tea, coffee, and cashew as well as spices. There is a significant fisheries industry, as well as tourism.

Let’s look at the list of the top 10 richest people in Kerala:

Yusuff Ali M.A

Chairman – Lulu Group
Net Worth – $5.2 Billion (40000 Crore)
Industry – Retail & Infrastructure

Yusuff Ali M.A who is estimated to be worth about 5.2 billion dollars is a Kerala-born businessman who is based in the United Arab Emirates. He is the chairman and managing director of Lulu Group International. His holding company controls the Lulu Hypermarket chain worldwide and Lulu International Shopping Mall.

Lulu Group International has an annual turnover of $US7.4 billion dollars and employs the highest number of Indians outside the shores of India. He owns a 5 percent stake in the Catholic Syrian Bank and another 4.7 percent in the Aluva-based Federal Bank. He owns the Scotland Yard Building in London, as well as 9.37 percent of the Cochin International Airport. 

Ravi Pillai

Chairman – RP Group
Net Worth – $3 Billion (25000 Crore)
Industry – Retail, Petrochemical & Construction

Ravi Pillai, who is the chairman and managing director of RP Group of Companies. RP Group is a conglomerate of companies that have interests in Engineering and Construction, Hospitality, Steel, Cement, as well as Oil and Gas.

RP Group has a presence in the UAE, Qatar, and Bahrain, as well as India. Ravi Pillai actually made his money in Saudi Arabia, through the trading and supply business. His flagship construction company Nasser S. Al Hajri Corporation was the first company he registered. It has retail interests as well through RP Mall which was recently opened.

Senapathy Kris Gopalakrishnan

Chairman – Axilor Ventures
Net Worth – $15.8 Billion (128000 Crore)
Industry – Power & Steel

Mr. Gopalakrishnan is chairman of Axilor Ventures, which is a company that provides funding as well as technical and logistic support for startups, in exchange for stakes in the ventures. That means Mr. Kris Gopalakrishnan is a venture capitalist. He was born in Kerala and is quite well-traveled.

Mr. Kris Gopalakrishnan was at one time the co-chairman of Infosys, which is an Indian consulting and IT Company that is now a global brand.  He is estimated to be worth about $US2.3 billion dollars making him the third wealthiest person in Kerala. In 2013-2014 he was honored with an election to the presidency of the Confederation of Indian Industry which is the highest industry chamber in the country. In 2011, the government of India honored him with the title Padma Bhushan, which is the country’s third-highest civilian honor.

Azad Moopen

Chairman – Aster DM Healthcare
Net Worth – $2 Billion (16000 Crore)
Industry – Healthcare

Dr. Azad Moopen is a billionaire doctor and entrepreneur. He is the chairman and managing director of Aster DM Healthcare, and a developer of medical facilities in the Asia Pacific region.

Apart from his private healthcare facilities, he has contract agreements with several top companies to provide healthcare for their members of staff. He has been the recipient of numerous industry awards, and he was recognized by the government of India with the Padma Shri Award.

Sunny Varkey

Chairman – Varkey Group
Net Worth – $1.6 Billion (13000 Crore)
Industry – Power & Steel

He is the founder and chairman of GEMS Education, which is a global advisory and educational management firm. GEMS Education is the largest operator of kindergarten to grade 12 schools in the world, with a network of 130 schools in over 12 countries.

Sunny Varkey has been honored by the United Nations through UNESCO, as the UNESCO Goodwill Ambassador, and in 2015 he committed to the giving pledge, vowing to donate half of his wealth to philanthropic causes during his lifetime.

T.S  Kalyanaraman Iyer

Chairman – Kalyan Group
Net Worth – $1.2 Billion (10000 Crore)
Industry – Jewellery, Real Estate

T.S  Kalyanaraman Iyer is an Indian billionaire businessman from Kerala who is known as the chairman and managing director of Kalyan Group. Kalyan Jewellers and Kalyan Developers are 2 of his companies under the umbrella of the Kalyan Group. He was born into a jewelry-making family, and the business was inherited from his grandfather.

Mathai George Muthoot

Chairman – Jindal Group
Net Worth – $1.2 Billion (9500 Crore)
Industry – Power & Steel

Mathai George Muthoot is the third person in the lineage of Muthoots to be chairman of the Muthoot Group. The group controls businesses that include Banking, Information Technology, Media, Healthcare, Education, Power Generation, Infrastructure, Agriculture, and Precious Metals.

Mathai George Muthoot was groomed from childhood to take over and grow the family businesses, and the first job he ever did was as an office assistant in the family bank. The bank has 4433 branches and a turnover of 4.5 billion dollars.

SD Shibulal

Chairman – Jindal Group
Net Worth – $1.2 Billion (9500 Crore)
Industry – Power & Steel

S.D. Shibulal is an Indian businessman and entrepreneur. Today he is a member of the boards of the following companies: Boston University, Globethics.net, and Seoul International Business Advisory Council (SIBAC). He was a founding member of Infosys, and also Axilor. He still holds about 2.2% of Infosys shares.

Joy Alukkas

Chairman – Joy Alukkas
Net Worth – $2 Billion (17000 Crore)
Industry – Jewellery

Joy Alukkas is a famous jeweler from Kerala, India who is the chairman of Joy Alukkas, a jewelry seller with 160 locations from India to Dubai, United Arab Emirates. His signature gold chain designs are much sought after in the United States, and he has expanded his business into the Joy Alukkas Group, a conglomerate with interests in real estate, fashion, and Silk.

Shamsheer Vayalil Parambath

Chairman – VPS Healthcare Group
Net Worth – $1.3 Billion (11000 Crore)
Industry – Power & Steel

Shamsheer Vayalil Parambath is an Indian radiologist and entrepreneur who was born in Kerala. He is the founder and chairman of VPS Healthcare Group, and Amanat Holdings, a healthcare delivery, and education firm based in India and Dubai, UAE.

Frequently Asked Questions