Byju CEO richer than Rakesh Jhunjhunwala, Nandan Nilekani, Bharti Mittal; becomes the 67th richest Indian
Byju Raveendran, founder of the startup Byju’s, is now richer than Rakesh Jhunjhunwala, Nandan Nilekani, Bharti Mittal, Anand Mahindra and others, according to the IIFL Wealth Hurun India Rich list. Byju Raveendran and his family are now worth Rs 24,300 crore, a jump of 19% from the previous year. This year, Byju acquired Aakash Educational Services, Singapore-based Great Learning and a California-based Epic digital reading platform, making him the 67th richest person in India. Giant EdTech Byju has spent over 15,000 crore rupees on acquisitions this year alone. In the span of five years, Raveendran has climbed 504 ranks, the highest by anyone on the list.
Rakesh Jhunjhunwala and his family’s wealth amounted to Rs 22,300 crore, Anand Mahindra and his family to Rs 22,000 crore and Nandan Nilekani and his family to Rs 20,900 crore, and Rajan Bharti Mittal and his family to Rs 20,500 crore. Leading investor Rakesh Jhunjhunwala and his family’s total wealth jumped over 50% from the previous year, while Anand Mahindra’s wealth soared 57% from the previous year. last year. The wealth of Nandan Nilekani and his family has increased by 74% in the past year, while that of Bharti Mittal has increased by 30% compared to last year.
The rise of Indian unicorns shows the future and the potential for exponential wealth creation in India. According to the list, 46 entrepreneurs on the list were unicorn founders and 3 were gazelle founders, defined as the most likely to “become unicorns” within two years. India ranked third in terms of the number of unicorns on the list at 52, according to Hurun India Future Unicorn List 2021. The cumulative wealth brought by the Indian Unicorn and Gazelle lists to the rich list increased by 35% to Rs 2, 32,000 crore.
The report pointed out that the youngest ten years ago was 37 and today in 2021 he is 23, indicating the impact of the startup revolution. Shashvat Nakrani of payment app BhartaPe, 23, is the youngest on the list and three years younger than the youngest last year. Nakrani, based in New Delhi, is the youngest autodidact. Shashvat Nakrani co-founded FinTech start-up BharatPe at the age of 19, while a third year student at IIT Delhi. It can be noted that the number of participants in the rich list IIFL Wealth Hurun India has dropped from just under 100 ten years ago to 1,007 today.