The net worth of Byju Raveendran, founder of edtech company Byju’s, which is facing financial crisis, has become zero. A year ago i.e. on April 4, 2023, Byju’s net worth was $ 2.1 billion (about ₹ 17,545 crore then). This information has been given in Forbes’ Billionaire Index 2024. It has been told in the report that a year ago Byju was included in the Forbes Billionaire list, but this time 4 people have been excluded from last year’s list, among them Raveendran is also included. Recently, BlackRock also reduced Byju’s valuation to $1 billion, which is just a part of its highest valuation of $22 billion in 2022. Byju Raveendran started his career as a mathematics teacher. In 2011, when he founded Byju’s, it became the fastest growing startup. The company had said its valuation in 2022 to be $22 billion, approximately Rs 1.84 lakh crore. Byju’s caters to students from primary level to MBA. ED is also taking action. ED is also investigating the foreign investment received by Byju. Recently, ED had issued a lookout circular against Raveendran. Apart from this, a ‘show cause’ notice was issued to Byju’s parent company Think & Learn for violation of the Foreign Exchange Management Act (FEMA).
