Kochi: Kerala’s jewellery tycoon Joy Alukkas, Chairman of the Joy Alukkas Group, has claimed the top position on Forbes’ latest list of the richest Keralites, surpassing retail magnate M.A. Yusuff Ali of Lulu Group.
Joy Alukkas’ net worth has soared to $6.7 billion (approximately ₹59,450 crore) — a stunning leap from $4.4 billion (₹38,980 crore) in 2024, marking one of the biggest single-year gains among Indian billionaires.
Meanwhile, M.A. Yusuff Ali’s fortune dipped slightly to $5.4 billion (₹47,930 crore), placing him second.
In third place is Sunny Varkey, Chairman of GEMS Education, with $4.0 billion (₹35,500 crore), followed by B. Ravi Pillai of RP Group ($3.9 billion) and T.S. Kalyanaraman of Kalyan Jewellers ($3.6 billion).
Other leading names in Kerala’s billionaire club include Infosys co-founder S. Gopalakrishnan ($3.5B), Ramesh Kunhikannan of Kaynes Technology ($3.0B), Shamsheer Vayalil of Burjeel Holdings ($1.9B), Infosys’ S.D. Shibulal ($1.9B), and V-Guard founder Kochouseph Chittilappilly ($1.4B).
The list highlights Kerala’s growing presence on the global business stage, driven by entrepreneurship across jewellery, retail, technology, and education sectors.
