Recently, Forbes released its latest Billionaire Index 2024, revealing that Byju’s Raveendran’s net worth has plummeted to a big fat zero. Raveendran’s net worth a year ago stood at Rs. 17,545 crore, and he was featured on the ‘World Richest List’ of numerous prestigious magazines, but the recent hardships he faced have drowned his net worth. Byju’s was once the biggest ed-tech in India and had a multi-billion dollar valuation; however, now the company is struggling to make ends meet, and its founder’s net worth drought shows that perfectly.
Forbes cited Raveendran’s exclusion from the list: “Only four people from last year’s list dropped off this time, including former ed-tech star Byju Raveendran, whose firm Byju’s was enveloped in multiple crises. BlackRock marked down its Valuation to $1 billion, a fraction of its peak $22 billion valuation in 2022.”
Byju’s rise was one of India’s top success stories, and it quickly rose to become one of India’s top companies. However, the good times could only last for a long time, and Byju started facing financial problems. This became evident when they unveiled their financial report and reported a net loss of $1 billion in surplus.
Raveendran wasn’t the only one who lost his billionaire title. According to Forbes, four people, including Byju Raveendran, lost the title. Other billionaire including Rene Benko, Hui Ka Yan, and Ryan Breslow. Moreover, the index also showed that Tesla CEO Elon Musk lost his title as the richest man in the world. LVMH CEO Bernard Arnault overtook him. As of April 5, The richest man list is as follows:
1- Bernard Arnault- $223 Billion
2- Jeff Bezos- $198 Billion
3- Elon Musk- $192.7 billion
4- Mark Zuckerberg- $179.1 billion
5- Larry Ellison- $153.4 billion
6- Warren Buffett- $137.3 billion
7- Bill Gates- $130 billion
8- Larry Paige- $125.7 billion
9- Steve Balmer- $123.8 billion
10- Sergey Brin- $120.8 billion
