Forbes World’s Billionaires List: Byju Raveendran loses billionaire tag, net worth down to $0

Forbes has released its 2024 Billionaires List with record  2,781 individuals holding $14.2 trillion of the wealth in the world. India too saw its billionaires soar to record high. The list features 200 Indians, up from 169 last year. They hold a combined wealth approaching a trillion dollars, with a record total of $954 billion. This marks a jump of 41% from $675 billion in 2023.

While many names were added to the list, certain names had to be dropped off as well. As per Forbes, about 189 people fell below the $1 billion threshold, losing their membership of the elite club.

These billionaire departures include individuals linked to prominent brands, including Gary Lauder, heir of Estée Lauder; Hajime Satomi, ex-CEO of Japanese gaming giant Sega Sammy; and David Tran, owner of the company famous for Sriracha hot sauce.

Among those whose names were left out of the Forbes billionaires list, was India’s Byju Raveendran, who co-founded the learning app BYJU’S. As per Forbes, Raveendran’s net worth has now fallen to $0, down from $2.1 billion. Previously, BlackRock significantly reduced its valuation of Byju’s to approximately $1 billion, a sharp decline from the firm’s $22 billion valuation in 2022, amidst the company’s challenges in securing capital and allegations of accounting irregularities.

Earlier this year, Byju was ousted as the CEO of the firm by the shareholders.

China experienced the most significant drop in billionaire numbers, with the country losing 133 billionaires (including Hong Kong and Macau) compared to last year’s figures. The United States saw only eight individuals lose their billionaire status, followed by Japan with six losses, and Russia with five.