Kerala, often called "God's own country," is renowned for its idyllic backwaters, palm-fringed beaches, and lush landscapes. However, it is also home to billionaire magnates who have established successful business empires over time. These individuals' entrepreneurial abilities and vast riches have elevated them to the ranks of the world's wealthiest individuals, as evidenced by their inclusion on Forbes' Billionaire List for 2023. Kerala's business elite have made their fortunes in diverse industries, from healthcare to construction and software, and their impact on the state's economy and society is significant. Despite their vast wealth, they remain committed to philanthropy and social responsibility, contributing to various charitable causes and initiatives.

1. M A Yusuff Ali

Ranked at 589th place on the Forbes global list is M A Yusuff Ali, a prominent NRI businessman and the chairman of Lulu Group. He is known for his impressive car collection and is one of the wealthiest Indian tycoons in the Middle East, with a net worth of $4.8 billion. Ali leads LuLu Group International, which has 193 stores in the Gulf and beyond. He also owns India's largest mall, the Lulu Mall in Kochi, sprawling over a vast area of 6.2 lakh acres. In addition, he possesses other notable assets, such as the Waldorf Astoria in Scotland and the Great Scotland Yard Hotel.

Net worth: $4.8 billion (approx Rs 35,700 crores)

2. Senapathy Gopalakrishnan

Kris Gopalakrishnan, also known as Senapathy Gopalakrishnan, the Co-founder of Infosys, has a net worth of around $3.3 billion (approximately Rs. 24,500 crore) and is ranked 925th on the worldwide list. After retiring from Infosys in 2014, Gopalakrishnan now focuses on investing in promising businesses through his incubator, Axilor Ventures.

Net worth: $3.3 billion (approx Rs 24,500 crore)

3. (Tie) B Ravi Pillai

According to Forbes, B Ravi Pillai, the founder and managing director of RP Group of companies, has a net worth of $2.5 billion (18,500 crores) and is ranked 1249th on the list of the world's wealthiest individuals. His company, which is one of the largest employers of Indians in the Middle East, is primarily involved in construction.

Net worth: $2.5 billion (18,500 crores)

4. (Tie) Byju Raveendran 

Byju Raveendran, co-founder of Byju's, shares the 1249th position on the Forbes Billionaire List with Ravi Pillai. Starting the online ed-tech company in 2011 out of passion, Raveendran's former profession was a math teacher. With a valuation of $12 billion (18,500 crores), Byju's has garnered investments from prominent figures such as Mark Zuckerberg and Tencent.

Net worth: $2.5 billion (18,500 crores) 

5. S.D. Shibulal

S.D. Shibulal, one of the seven original founders of Infosys, oversees investment management for his family office and maintains a minority stake in the company. He also co-founded the business incubator Axilor Ventures alongside Senapathy Gopalakrishnan. As of today, his net worth is approximately $1.9 billion (roughly Rs 14,100 crore), placing him at the 1664th spot on the wealth rankings.

Net worth: $1.9 billion (approx Rs 14,100 crore)

6. Sunny Varkey

With a net worth of $1.4 billion (approximately 10,400 crore), Sunny Varkey occupies the 2141st position on the global list. He is the Founder and Executive Chairman of the GEMS Education Group, which is the largest operator of K-12 schools worldwide.

Net worth: $1.4 billion  (approx 10,400 crore)

7. (Tie) George Alexander Muthoot, George Jacob Muthoot and George Thomas Muthoot

 

With 5,400 branches spread throughout India, the Muthoot brothers are the most prominent gold lenders in the country. In December 2020, the group's net profit rose by 20%, reaching $383 million. Currently, the three siblings hold the 2263rd position on the list of the world's wealthiest individuals, with a combined net worth of $1.3 billion (approximately Rs. 9,600 crore).

 Net worth: $1.3 billion (approx Rs 9,600 crore)

8. T.S. Kalyanaraman

T.S. Kalyanaraman, the head of Kalyan Jewellers, is ranked 2674th on the billionaire list and has a net worth of $1 billion. The jewelry company generates revenues of around $1.35 billion (equivalent to Rs 7,400 crore) and counts Warburg Pincus among its primary investors. Currently, the brand has 137 stores in India and the Middle East. Apart from jewelry, Kalyanaraman has diversified into real estate with Kalyan Developers.

Net worth: $1.35 billion 

9. T N Manoharan

Manoharan, the founder of Manco India Limited, which runs six manufacturing plants in India, is the sixth wealthiest individual in Kerala and the ninth in India, with a net worth of $2.8 billion. Manco India Limited is an auto ancillary firm that has made a significant impact on the Indian automobile sector. Despite his vast fortune, Manoharan is regarded as a humble and low-key person who maintains a low profile. His entrepreneurial acumen and strategic vision have enabled him to build a thriving enterprise that generates employment opportunities and contributes to the nation's economic growth.

Net worth: $2.8 billion 

10. Pankaj Jain

In 1993, Pankaj Jain established his maiden enterprise with a meager investment of Rs 80,000 (equivalent to $800). Today, he is one of India's wealthiest individuals, having amassed a considerable fortune. Jain tops both the Forbes Billionaire List and India's super-rich list, with a net worth of $1.1 billion (equivalent to Rs 7,500 crore). His entrepreneurial journey exemplifies the potential for growth and success in India's dynamic business landscape, and his achievements are a testament to the country's economic potential. Jain's success has also made him a role model for aspiring entrepreneurs looking to make their mark in the world of business.

Net worth: $1.1 billion