Mohammed Nisham drove his Hummer into his guard Chandrabose, pinning him against the wall, before attacking him with a metal rod last year.
Nisham, 38, supposedly attacked Chandrabose because he had been slow to open the gate to his apartment.
Chandrabose, aged 50, died after spending two weeks on life support.
Nisham will be sentenced on Thursday. The prosecution has sought the death penalty.
Police charged him with murder following the attack in Thrissur city in January last year.
The Supreme Court had rejected his bail plea, saying the case was "an example of how the rich have become entirely egocentric and megalomaniacs".
Nisham faces a second court case over an incident in 2013 when he permitted his then nine-year-old son to drive his Ferrari.
Indian media say Nisham has had other brushes with the law.
Also in 2013, they report that he locked a female police officer in his Rolls Royce because she asked him to pull over.
It is believed that Nisham had a taste for luxury cars, additionally owning a Bentley, an Aston Martin and a Jaguar.
The millionaire is believed to have made his fortune selling tobacco and through jewellery and hotel businesses in the Middle East.
A court in India's Kerala state has found a millionaire guilty of murdering his security guard after deliberately ramming his car into the man.