Ritesh Agarwal is an Indian entrepreneur and businesses man. He is the former founder and CEO of OYO rooms. OYO rooms are officially launched in 2013. The main purpose of introducing these rooms is to provide an easy way and budget friendly personal hotels. This idea has been executing in over 100+ hotels all over India. And ofcourse this unique thinking made him one of the youngest self-made billionaire in the world.
He was born on 16th November 1993 at Bissam Cuttack, a small city in Odisha, India. He was brought up in Titlagarh, Odisha. He basically belongs to a Marwari Odia family. His father used to run a small shop in Rayagada district of Odisha.
He is around 30 years old in 2023. It is heard that Ritesh along with his mother and fiancée had met prime minister Mr Narendra Modi for his wedding invitation. That means they are all set to get married on March 2023. It is also predicted to have a grand reception party in Delhi after his marriage. No more information about his family is available publicly more than the above.
Ritesh had completed his basic schooling from Sacred Heart School in Rayagada, odisha. He had done his intermediate from St. Johns Senior secondary school, Bundi road, Kota in Rajasthan. Then he left for his further education for Indian School of Business and Finance, Delhi in 2011. But he dropped his college. Then he started his career path which was unstoppable.
Ritesh had always been a business minded person from his childhood days. He had already started selling SIM cards at the age of 13 when he was in school. After his drop out, he began his entrepreneurial journey. He was selected for the Thiel Fellowship (started by Peter Thiel). He started planning for booking budget hotels, a budget accomodation portal. It was accepted by Venture Nursery into the accelerator program in September 2012.
His idea got a place among the winners of 2013 Thiel Fellowship program. He received an amount of $1,00,000. Finally he launched OYO rooms in May 2013. OYO means On Your Own that provides budget friendly personal hotel rooms.
He made a unicorn company at the age of 26 and became one of the youngest self-made billionaire in the world. He is even listed in the Forbes 30 under 30 list for Asia.
Honors and Awards
He had won the Thiel Fellowship program which was the biggest victory for him. After his recent success, he was recognised by the International Hospitality Institute on the Global 100 in Hospitality in June 2022. It is a list which features 100 most powerful people in Global Hospitality.
Networth in 2023
The company raised $1 billion by 2018. His networth in 2020 was estimated to be $1.1billion approx according to Hurun Rich list 2020. Which is nearly around ₹7253 crore indian rupees.
It can be predicted that he earns more than ₹4 crore per anum approximately as the CEO of OYO rooms. All these factors and his dedication to his work made him the second youngest self-made billionaire in the world and in India as well.