Byju Raveendran’s net worth dropped to zero, as per the Forbes Billionaire Index 2024, from ₹17,545 crore ($2.1 billion) a year before. The edtech entrepreneur and his disgruntled investors are engaged in a fierce dispute at the moment of the big decline.
The Decline of Byju’s Net Worth
This is a huge discount for the once-promising edtech company, which is the crown jewel of India’s startup scene. Observing Byju‘s removal from the ranking, Forbes stated, “Only four people from last year’s list dropped off this time, including former edtech star Byju Raveendran, whose firm Byju’s was enveloped in multiple crises and its valuation was marked down by BlackRock to $1 billion, a fraction of its peak $22 billion valuation in 2022.”
Legal Dispute Over Rights Issue
Low on funds Byju’s and its investors are locked in a fierce legal dispute over the $200 million rights issue of the company, which involves accusations of mismanagement and oppression. In contrast to Byju’s highest valuation of $22 billion, the four investors—Prosus, General Atlantic, Sofina, and highest XV (previously Sequoia)—had requested a delay on the rights offering at less than 99 percent enterprise valuation.
