Byju’s founder Raveendran is richer than Rakesh Jhunjhunwala whereas Mukesh Ambani leads with a net worth of Rs 7,18, 000 Cr, as per IIFL Wealth Hurun India Rich List for 2021.
BharatPe’s Shashwat Nakrani also grabbed attention as the youngest tycoon on the list.
This year alone, EdTech behemoth Byju’s spent over Rs 15,000 crore on acquisitions. Raveendran has jumped 504 rankings in five years, the most of anybody else on the chart.
Even amid the COVID-19 outbreak, Byju’s is one of the very few Indian unicorns that will persist to produce revenue.
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The online education start-up founder’s swift wealth creation has put him ahead of investment expert Rakesh Jhunjhunwala and his family, whose wealth expanded by 52% to Rs 22,300 crore.
As per the ranking list, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, was named India’s wealthiest man for the 10th consecutive year in a series, with a wealth of Rs 7,18,000 crore.
Shashvat Nakrani, 23, of payment application BharatPe, is the youngest person on the chart, three years less than the previous year youngest. Nakrani, who lives in New Delhi, is the country’s youngest self-made tycoon. At the age of 19, Shashvat Nakrani, then a third-year student at IIT Delhi, co-founded FinTech start-up BharatPe.
“With a wealth of INR 5,05,900 crore, Gautam Adani and his family have upgraded two positions to second position on the IIFL Wealth Hurun India Rich List 2021.”
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Growth of Indian Unicorn Underlines Prospect for Huge Wealth Generation
The chemicals and software businesses contributed the newest members to the list Pharmaceutical continues to lead with 130 fresh members. The youngest on the list is 23 years old, three years younger than last year’s youngest.”
As per the listing, 46 entrepreneurs were creators of unicorns, while three were founders of gazelles, which are categorized as most promising to become unicorns in the upcoming years.
The growth of Indian unicorns underlines India’s prospects and potential for enormous wealth generation.
Also, India has exceeded the 1,000 individual benchmarks with a net worth of Rs 1,000 crore.
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Byju’s Declared as the World’s Most Valuable Edtech Business
Byju’s business strategy is centered on Edtech (educational technology), remote education, and mobile learning. Byju’s learning software is affiliated with the brand name Think and Learn Private Ltd, which was declared the world’s most valuable edtech business in March 2019.
As one of the greatest virtual learning firms, Byju’s has risen to prominence in bringing improvements to the education sector so that learners can study and master topics and concepts in a personal way.
Byju’s is reportedly in discussions to raise $400 million, as per industry insiders. It has so far garnered more than $1.3 billion from financiers notably Mark Zuckerberg, the founder of Facebook.
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Shiv Nadar’s HCL Maintained Third Spot With 67% Boost in Wealth
Shiv Nadar of HCL maintained in third place, with a 67 percent boost in his wealth to Rs 2,36,600 crore because of HCL’s moderate access to COVID -19 affected areas including travel, retail, and hospitality.
HCL is become the third Indian IT business to cross the $10 billion sales benchmark in the 12 months ending in December 2020.
Rakesh Jhunjhunwala and his family occupied a wealth of Rs 22,300 crore, Anand Mahindra and his family occupied a wealth of Rs 22,000 crore, Nandan Nilekani and his family occupied a wealth of Rs 20,900 crore, and Rajan Bharti Mittal and his family occupied a wealth of Rs 20,500 crore.
