What is Ritesh Agarwal’s net worth?
Ritesh Agarwal’s net worth: Ritesh Agarwal is an Indian billionaire entrepreneur and the Founder and CEO of OYO Rooms. He became the world’s second-youngest billionaire in 2020. As of 2022, Ritesh Agarwal has a net worth of $1.1 billion.
Ritesh Agarwal Biodata
|Real name||Ritesh Agarwal|
|Born||November 16, 1993 (age 27)|
|Identified as||Founder & CEO of OYO|
|Net Worth||$1.1 BILLION|
|Status||Entrepreneur & World’s second youngest billionaire|
|Education||Indian School of Business and Finance, Delhi (drop-out)|
|Residence||Cuttack, Odisha, India|
It is not so easy to form such a big company at the age at which one studies or goes to college to have fun and twirl. Where half the life goes out to start a logo, it is worth praising to build a company worth 360 crores at just 21 years of age. So let’s know the true story of success through struggle, which can change your life too.
We are talking about 28-year-old Ritesh Agarwal, the second youngest billionaire in the world and the founder of OYO room, who has written his own destiny and has told that it does not require age or money to start work but needs So there is a good idea that can change your life.
Education of Ritesh Agarwal
Ritesh did his early education at Sacred Heart School which is currently in Rayagada Odisha. After completing his intermediate studies, he moved to Delhi where he took admission to the Indian School of Business and Finance. However, he started his business, due to which he left his studies in half. It was inspired by Bill Gates, Steve Jobs, and Mark Zuckerberg from an early age.
In the present time, Ritesh has become one of the youngest Indian entrepreneurs in India, he has earned such a name in a very short time which seems impossible.
1. Who is Ritesh Agarwal
Ritesh Agarwal was born on 16 November 1993 in a Marwari family in the state of Odisha. His father works with Infrastructure Corporation and his mother is a homemaker. He did his early education from a school in his own district and after that, he went to Delhi for further studies and took admission in the Indian School of Business Academy to study business there, but Ritesh had something else in his mind. So he left his studies in the middle.
2. How to start a business
Since childhood, Ritesh considers Steve Jobs, Bill Gates, and Mark Zuckerberg as his role models and wanted to do something different in life just like him. The oyo rooms started in such a way that Ritesh loved to travel but had a lot of difficulty in arranging the rooms. Sometimes they used to get a bad room by paying a lot of money, but sometimes they would get a good room for less money.
That is why this idea came to Ritesh’s mind that why not start a company to book a room online and give people a good room at an affordable rate.
3. When did OYO hotel start
In 2012, Ritesh opened an online room booking company named OREVAL STAYS with the aim of providing good rooms at a low price. Shortly after the start of the company, they received a fund of 30 lakhs from a company called venture nursery investing in new start-ups. Now Ritesh also had the necessary funds to pursue his company.
4. How did fund get
Ritesh put his idea in a competition organized by Thales Fellowship to co-creator of pay pal company to further his company and luckily he got the tenth position in this competition and earned 65 lakhs for his company. Fellowship was also received.
5. The company had to shut down
Ritesh was very happy with this success in a very short time but still, he was not getting everything that Ritesh thought and the oraval stays went into a loss. There was a time when Ritesh had to temporarily shut down his company.
6. Started your company again
Ritesh was not disappointed at the failure of his start-up but instead thought that why not rethink this idea and remove its shortcomings.
After this, Ritesh thought that it is not a big deal to add room in India at a low price but his comfort facilities are more important, so Ritesh started his company OREVAL STAYS again in 2013 with a new name.
7. New name given to the company
The new name of his company was OYO room which means ‘your own room’. Ritesh did not want to repeat his mistakes again, so he learned a few tricks of the business that helped him make the right decisions for the company.
Ritesh also got the result of his hard work and he did what he wanted, Idea Travels with good room facilities at affordable prices also liked it.
8. Ritesh’s company also got investment internationally
In 2014, two big companies LSVP (light speed venture partners) and DSG consumer partners invested 4 crores in Ritesh’s company and then in 2016 Japan company SOFT BANK also invested seven billion rupees for a new company. Is a very big achievement.
On 2 July 2016, an international magazine GQ also included Ritesh’s name in the list of 50 important young industrialists, this list includes only those people who will make the life of the people easy with their new idea. Also, according to the Hurun Global Rich List 2020, Ritesh is the second youngest self-made billionaire in the world. At present, he is 26 years old. At number one is Kaylee Jenner, who is 22 years old.
9. Sikh life
From the struggle and success story of Ritesh’s life, today it has been understood that to make big, only a big idea is needed which should be different and bring changes in the life of people.
Interesting information related to OYO Hotel Room owner Ritesh Agarwal
- In 2011, the Oravel company was opened in Gurgaon for just Rs 60,000, which started from a hotel.
- For financial assistance to the company, he had received information about the 20 under 20 Thiel Fellowship, in which he also got help from PayPal founder Peter Thiel.
- He was later elected to a Fellowship in which he received a sum of $ 100,000, with the help of which he has started such a large OYO Rooms today.
- At present there are more than 8000 hotels in 230 cities of Oyo, in which their convenience is available, their number is going to increase even more rapidly in the coming days.
- If you also have hotels in a city, then you can also partner with Oyo company.
- Currently, the company has an annual income of more than 500 crores.
Oyo hotels are active all over India today, if you go somewhere to roam, you will definitely take advantage of them, I also went to Jaipur last month, then I also booked a hotel from Oyo, there are very good facilities in their hotels. .
There are many other young businessmen in India like Ritesh, about whom you can get information on India Biography in the coming times.