Kozhikode: Malayali businessman and jewellery chain chairman Joy Alukkas has claimed the top spot among Malayalis in Forbes’ real-time global billionaire rankings. Forbes’ April 2025 global billionaire list had reported his net worth at $3.3 billion. His fortune has more than doubled since then, now standing at $6.7 billion.

To advertise here,

M. A. Yusuff Ali slips to second place

Lulu Group chairman M. A. Yusuff Ali, who had long held the top position among Malayalis, now occupies second place with a net worth of $5.4 billion.

Other notable Malayali billionaires

Forbes’ rankings (real-time) also feature several other prominent Malayalis, including:

  • Sunny Varkey, chairman of GEMS Education
  • Ravi Pillai, RP Group chairman
  • T.S. Kalyanaraman, managing director of Kalyan Jewellers
  • P.N.C. Menon, founder of Sobha Group
  • Kris Gopalakrishnan, Infosys co-founder
  • Ramesh Kunhikannan, founder of Kaynes Group
  • George Jacob Muthoot, Sara George Muthoot, George Thomas Muthoot, George Alexander Muthoot, promoters of Muthoot Finance
  • Dr. Shamsheer Vayalil, chairman of Burjeel Holdings
  • S.D. Shibulal, Infosys co-founder
  • Kochouseph Chittilappilly, founder of V-Guard Group

In the global and Indian context

Globally, Tesla and SpaceX chief Elon Musk continues to hold the top position with a staggering net worth of $463.2 billion. Among Indians, Reliance Industries chairman Mukesh Ambani remains the wealthiest, with $104 billion.