Byju Ravindran and his family have amassed massive wealth, surpassing the Jhunjhunwala and Mahindra dynasties in terms of wealth.
According to the IIFL Wealth Hurun India Rich List 2021, Byju founder Raveendran & family have a net worth of Rs 24,300 crore. They are now the 67th wealthiest Indians in the United States. This year, the family’s net worth increased by 19 percent. Raveendran has climbed the most ranks on the list, 504, since 2017.
According to the IIFL Wealth Hurun India Rich List, Byju Raveendran, the founder of startup Byju’s, is now wealthier than Rakesh Jhunjhunwala, Nandan Nilekani, Bharti Mittal, Anand Mahindra, and others. Byju Raveendran and his family currently have a net worth of Rs 24,300 crore, up 19% from the previous year.
This year, Byju’s bought Aakash Educational Services, Great Learning of Singapore, and Epic, a digital reading platform based in California, giving him India’s 67th richest person. This year alone, EdTech behemoth Byju’s spent over Rs 15,000 crore on acquisitions. Raveendran has climbed 504 levels in five years, the most of anyone on the list.
Rakesh Jhunjhunwala and his family have a net worth of Rs 22,300 crore, Anand Mahindra and his family have a net worth of Rs 22,000 crore, Nandan Nilekani and his family have a net worth of Rs 20,900 crore, and Rajan Bharti Mittal and his family have a net worth of Rs 20,500 crore.
Rakesh Jhunjhunwala and his family’s overall wealth increased by more than 50% from the previous year, while Anand Mahindra’s wealth increased by 57%. Nandan Nilekani’s and his family’s fortune has increased by 74% in the last year, whereas Bharti Mittal’s wealth has increased by 30%.
Since the pandemic, Byju’s has been on a run, with a market capitalization of $16.5 billion. It bought out several rivals and became the country’s most valued startup. The company is reportedly in talks with several investors to raise $1-1.5 billion at a valuation of roughly $21 billion, according to sources. Simultaneously, some financiers are pursuing the company for an initial public offering (IPO), with anticipated valuations of up to $50 billion!!