One morning in January, Byju Raveendran sat in the back seat of his shiny black Cadillac as it sped through Dubai. Just three years prior, the schoolteachers’ son had appeared on the Forbes list of richest Indians as founder and CEO of Byju’s, then one of the world’s most valuable education technology companies. He was dressed casually in a T-shirt and jeans, while his driver, Hashim, was more formally attired in a collared shirt. Raveendran, square-jawed and muscular at 45, told me he typically rides beside Hashim in the passenger seat, seeming intent on underscoring his down-to-earthness. “I always sit there, no, Hashim?” he asked, with a boyish laugh. Hashim nodded.
Former Byju’s employees had told me about Raveendran’s love for staying at the world’s finest hotels, and the upscale properties and luxury cars his family owned when he was based in Bengaluru. I’d heard his wife and co-founder, Divya Gokulnath, described as a jet-setter who networked with Silicon Valley elites.
But beyond the Cadillac, Raveendran didn’t seem keen for me to get a glimpse of his wealth. He was facing accusations of defrauding U.S. lenders for hundreds of millions of dollars, while tens of thousands of his employees had been laid off. I’d hoped to be invited to his home — one source told me it was a mansion in a gated community of Dubai. Instead, he showed up at my hotel on short notice to take me to a South Indian restaurant for a simple breakfast of idli, vada, and sambar — his staple meal during a modest upbringing in a village in Kerala.
Raveendran wanted to show he hadn’t let success get to his head, and wouldn’t let his company’s staggering problems, either. He was defiant that his entrepreneurial journey wasn’t over yet. “Why I am confident of a comeback is that the most valuable thing I had is still with me,” he said, referring to himself.