Byju Raveendran Net Worth is zero now says forbes

Forbes Billionaire Index: Byju Raveendran, CEO of troubled edtech company Byju, has suffered a major setback in the last one year. On one hand, the number of billionaires in the country is increasing rapidly, while on the other hand, the net worth of Byju Ravindran, who was included in the list of young billionaires, is now estimated at zero. A year ago his net worth was Rs 17545 crore ($2.1 billion). This has been revealed through Forbes Billionaire Index 2024.

Revealed from Forbes list

Forbes said that compared to last year's list, this year only 4 people have left it. One of them is Byju Ravindran. After the crisis that continued for the last one year, BlackRock had reduced the valuation of edtech company Byju's from $22 billion to $1 billion. Due to this, Byju Ravindran, who was the poster boy of Indian startups, has also suffered a major setback and his net worth has been reduced to zero.

Byju's value reached 1 billion dollars

Byju's was established in 2011. This startup grew very fast and achieved a huge valuation of $22 billion in 2022. Encouraged by the quick success, the company also entered America. But, after this the company continued to face shocks after shocks. Then a dispute broke out between Byju Ravindran and some investors of the company. Now the situation is that Byju is not able to pay salaries to its employees on time from January 2024 itself. Besides, layoffs are continuing in the company.

Byju's loss is 1 billion dollars

Byju had recently declared the results of FY 22. In this the company had declared its net loss to be one billion dollars. It has also been included in the list of India's highest loss making companies. After these financial results, Byju's market value was reduced to just $ 1 billion. The blame for the company's poor performance has been placed on Byju Ravindran. Last month, major shareholders voted to remove Byju Ravindran from the post of CEO. However, this matter is stuck in the court.

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