The Enforcement Directorate conducted searches at the Bengaluru-located residence and offices of Edtech major Byju’s CEO Raveendran Byju in connection with the Foreign Exchange Management Act (FEMA) violations. In a tweet, the ED mentioned that a total of three premises were raided recently and various incriminating documents and digital data were seized.
Who is Byju Raveendran?
According to the 2023 Hurun Global Rich List, India has 187 billionaires residing in India. Byju Raveendran, the co-founder and chief executive officer of Byjus has managed to become the world’s second-richest entrepreneur from the education sector. Byju Raveendran and his family are ranked 994th on the global list of Indian billionaires, having risen 1,005 positions over the past three years and amassing a fortune of $3.3 billion.
The report suggests that Mumbai is home to 66 billionaires followed by New Delhi with 39 billionaires and Bengaluru with 21 billionaires.
Byju Raveendran is an Indian entrepreneur, investor, and educator who, with his wife Divya Gokulnath, co-founded Byju’s. Byjus saw scale after they launched its application in 2015. The ed-tech company is valued at 22 billion dollars, which is way over Rs 1,89,000 crore. Son of physics and mathematics teachers from Azhikode village in Kerala, Byju Raveendran is a former teacher who turned an entrepreneur.
Byju Raveendran’s education and career
Byju Raveendran went to a Government College of Engineering in Kannur to complete his B.Tech. After scoring 100 percentile in two successive CAT exams, he decided to quit his job and started a company in 2007 that helped CAT aspirants crack the exam. He had met Divya Gokulnath and married her.
In 2011, he set up Think & Learn to offer online lessons, before launching his main app in 2015. In 2018, Byju Raveendran won the EY Entrepreneur of the Year Award (Startup category). The company grew during the coronavirus times as children couldn’t attend school for a long time. Byjus acquired Aakash Educational Services for 1 billion dollars in April 2021.
Who is Divya Gokulnath?
Born in 1987, Byju Raveendran’s wife Divya Gokulnath began her career as a teacher at the age of 21. She is the co-founder of the company. In the beginning, Divya appeared in videos as a teacher. Her net worth is a whopping Rs 4,500 crore.
Byju Raveendran and his family’s net worth
The family’s net worth is around 3.3 billion dollars, which translates into Rs 25,000 crore.