In a list published by the Forbes magazine, Byju's founder, Byju Raveendran, entered the Forbes India's Richest people list with a net worth of $1.19 billion. BYJU's- The Learning App is an education technology startup based out of Bangalore. It is also the brand name of Think and Learn Pvt. Founded in 2011, the educational startup was valued at $5.4 billion in the year 2019.
According to reports, the Indian economy was staring at a slowdown and that resulted in the cumulative wealth of India's richest people falling down to a total of 8 per cent. Some of them, notwithstanding, still figured out how to further build their fortunes with India's most wealthy man, Mukesh Ambani, adding a total of $4.1 billion to his total net worth. Ambani further cemented his spot at the top for the twelfth successive year with a total of $51.4 billion in his worth in the year 2019.
Aside from Ambani, Gautam Adani Chairman of the Adani Group, which runs organizations from infrastructure to IT centres, climbed up eight positions this year to turn into India's second richest man with total assets of $15.7 billion. He was placed at the tenth spot a year ago with total assets worth $11.9 billion. Azim Premji, who was at the second position a year ago, dropped down to the seventeenth position in the wake of giving away a piece of his fortune. His present net worth is $7.2 billion.
The Hinduja brothers were positioned at number 3 this year with total assets worth $15.6 billion, while Pallonji Mistry is the fourth richest Indian with a total worth of $15 billion. With shares of Kotak Mahindra Bank rising 39% in the previous year, Uday Kotak saw a $4 billion rise in his riches, entering as one of India's top 5 richest people.
Six new names made it to the Forbes India's richest people list this year. Byju Raveendran, founder of educational startup, BYJU's, debuted into the top 100 alongside being the youngest billionaire in India. He is placed at 72 with a total of $1.91 billion as his net worth.
The top 10 richest individuals in India, include, Shiv Nadar at the 6th position, founder and director of HCL, Radhakrishna Damani, financial specialist and founder of DMart with the Godrej family coming in at the 8th position, Lakshmi Mittal, director of ArcelorMittal, and Kumar Birla, current leader of the Aditya Birla Group.
(With inputs from agencies)