Byju’s founder’s net worth dropped to 0: no longer a billionaire

According to the most recent Forbes Billionaire Index, Byju Raveendran, the creator of Byju's, an educational technology company, has filed for bankruptcy.According to the most recent Forbes Billionaire Index, Byju Raveendran, the creator of Byju's, an educaAccording to the most recent Forbes Billionaire Index, ByjuRaveendran, the creator of Byju's, an educational technology company, has filed for bankruptcy.tional technology company, has filed for bankruptcy.

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In the previous year, Raveendran's assets were valued at a total of Rs 17,545 crore, or $2.1 billion. But in the aftermath of the multiple scandals involving the edtech company, his wealth has vanished.

This year, only four names were left off of the first list, according to Forbes. Formerly a star in the edtech sector, Byju  Raveendran was one of those let go. Due to these issues, Black Rock lowered Byju's company's valuation to $1 billion. Its peak valuation in 2022 was $22 billion, which is a small portion of that.

Since its founding in 2011, Byju's has grown to be the most valuable startup in India, with a valuation of $22 billion as of 2022. Byju's software upended the educational system since it could help students from kindergarten through graduate school. The impact of recent disclosures and worries about the company's finances has been substantial.

When Byju's eventually released their financial information for the fiscal year that ended in March 2022, the situation took a turn for the worse. They have lost more than $1 billion. Subsequently, a major investor, BlackRock, stated that Byju's was only worth $1 billion, a significant decrease from previous projections.

Due to the problems the company is having, Raveendran has come under fire. Byju's owners, Prosus NV and Peak XV Partners, recently made the decision to remove Mr. Raveendran from his position as CEO. This disagreement has intensified a fight over the future of the once thriving online tutoring company, which is working very hard to stay in business.

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Byju's experienced issues as a result of foreign investments as well; the Enforcement Directorate (ED) is investigating. Based on the information we have gathered from our sources, tit is claims that Before the lookout circular was issued against Byju's founder, Think & Learn, the Enforcement Department (ED) served show-cause warnings due to alleged violations of the Foreign Exchange Management Act totaling over 9,362 crore rupees.

Byju confronts great obstacles, but Raveendran's decline from billionaire to nothing serves as a sobering reminder of the dangers of going it alone.