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Journalism of Courage
Kerala’s Wealthiest Persons in 2025 List: Kerala has once again gained international attention by making a strong presence on Forbes’ Real-Time Billionaires List. The list includes several successful Malayali entrepreneurs and business leaders who have built powerful empires in different fields such as jewellery, retail, education, healthcare, construction, and technology. Two of the top ten Malayalis in the list are connected with India’s well-known IT company, Infosys.
At the very top of the Malayali billionaires is Joy Alukkas, the chairman of the Joyalukkas Group. His fortune has now reached $6.7 billion, about Rs 59,45,000 crore. This is a major jump compared to last year when his wealth was valued at $4.4 billion (Rs 38,98,00 crore, approximately).
The second richest Malayali is M A Yusuff Ali, the head of Lulu Group, who is famous for his massive retail empire spread across the globe. His wealth now stands at $5.4 billion (approximately Rs 47,93,000 crore). However, this is a fall compared to 2024 when his fortune was $7.6 billion (about Rs 67,44,000 crore). In the worldwide ranking, he holds the 748th position.
Other familiar names in the top ten include Sunny Varkey, chairman of GEMS Education, who has $4.0 billion (Rs 35,50,000 crore, approximately). Following him is B Ravi Pillai of the RP Group, valued at $3.9 billion (Rs 34,61,000 crore, approximately). Next is T S Kalyanaraman, the managing director of Kalyan Jewellers, with $3.6 billion (around Rs 31,95,000 crore). Together, these business leaders have strengthened Kerala’s position in the global billionaire club, especially in sectors like jewellery, construction, and education.
The list also highlights two special names for their link to Infosys, the company that transformed India’s IT industry. S Gopalakrishnan (Kris), one of the co-founders, later became the CEO and vice chairman of Infosys between 2007 and 2014. His present wealth is $3.5 billion (nearly Rs 31,05,000 crore), giving him a global rank of 1168. Apart from business, he has been active in philanthropy, research, and in helping start-ups through Axilor Ventures. He was also honoured with the Padma Bhushan in 2011.
Another Infosys co-founder, S D Shibulal, is also part of the list. His fortune is estimated at $1.9 billion (around Rs 16,86,000 crore), placing him at the 2038th position worldwide. He served as CEO and MD of Infosys from 2011 to 2014 and was a key figure in the company’s international growth. Beyond corporate leadership, he participates in educational initiatives and global business platforms.
Some of the other Malayali billionaires on the list are Ramesh Kunhikannan of Kaynes Technology with $3.0 billion (around Rs 26,63,000 crore), the Muthoot Finance promoters with a combined wealth of $2.5 billion each (nearly Rs 22,19,000 crore each), Shamsheer Vayalil of Burjeel Holdings with $1.9 billion (about Rs 16,86,000 crore), and Kochouseph Chittilappilly, founder of V-Guard Industries, who has $1.4 billion (around Rs 12,42,000 crore).
The Malayali billionaires represent a wide range of industries, proving that Kerala’s entrepreneurs are not limited to one field. From gold retail and finance to healthcare, education, technology, and construction, they have established businesses that now operate far beyond India. This diversity and global reach showcase the determination and success of Kerala’s business leaders on the world stage.
| Rank | Name | Net Worth (in USD) | Company |
| 1. | Joy Alukkas | 6.7 billion | Joyalukkas Group |
| 2. | M A Yusuff Ali | 5.4 billion | Lulu Group |
| 3. | Sunny Varkey | 4.0 billion | GEMS Education |
| 4. | B Ravi Pillai | 3.9 billion | RP Group |
| 5. | T S Kalyanaraman | 3.6 billion | Kalyan Jewellers |
| 6. | S Gopalakrishnan | 3.5 billion | Infosys |
| 7. | Ramesh Kunhikannan | 3.0 billion | Kaynes Technology |
| 8. | Shamsheer Vayalil | 1.9 billion | Burjeel Holdings |
| 9. | S D Shibulal | 1.9 billion | Infosys |
| 10. | Kochouseph Chittilappilly | 1.4 billion | V-Guard Industries |
Source: Forbes (as of Sept 12, 2025)
