Ritesh Agarwal Net Worth 2022: The Rise of Indias Youngest Billionaire

May 2024 · 4 minute read

Who is Ritesh Agarwal?

Ritesh Agarwal is an Indian entrepreneur and the founder and CEO of OYO Rooms, one of the world’s largest hospitality chains. He is also the youngest self-made billionaire in India and the second-youngest in the world, according to Forbes. He was born on November 16, 1993, in Bissam Cuttack, Odisha, and grew up in a middle-class Marwari family. He was interested in coding and entrepreneurship from a young age and started his first venture, Oravel Stays, in 2011, when he was 17 years old. Oravel Stays was an online platform that offered short-term rentals and bed and breakfasts. He later rebranded it as OYO Rooms in 2013, with a vision to provide affordable and standardized accommodation to travelers across India and beyond.

How did Ritesh Agarwal grow OYO Rooms?

Ritesh Agarwal faced many challenges and rejections in his entrepreneurial journey, but he never gave up on his dream. He dropped out of college and applied for the Thiel Fellowship, a prestigious program that offers $100,000 to young entrepreneurs who want to pursue their ideas. He was one of the 20 fellows selected in 2013 and became the first Indian to receive the fellowship. He used the grant money to expand OYO Rooms and improve its technology and operations. He also learned from mentors like Peter Thiel, Elon Musk, and Mark Zuckerberg. OYO Rooms soon became a disruptor in the Indian hospitality industry, offering standardized rooms with amenities like AC, TV, Wi-Fi, and clean bathrooms at affordable prices. OYO Rooms also partnered with hotel owners and operators and helped them increase their occupancy and revenue. OYO Rooms grew rapidly and expanded to over 800 cities in 80 countries, with more than 43,000 hotels and 1.2 million rooms in its network. OYO Rooms also diversified into segments like co-living, co-working, vacation homes, and cloud kitchens. OYO Rooms became one of the most valuable startups in India and the world, with a valuation of over $10 billion.

What is Ritesh Agarwal’s net worth in 2022?

According to various sources, Ritesh Agarwal’s net worth in 2022 is estimated to be around $1.1 billion, which is equivalent to INR 8,000 crore. He is one of the highest-paid CEOs in India and earns around INR 40 crore per year. He also owns a significant stake in OYO Rooms, which he increased from 10% to 30% in 2019, by buying back shares worth $2 billion from existing investors. He also has investments in other startups, such as Innov8, Acko, and Zostel. He lives a modest and simple lifestyle and does not own any luxury cars or properties. He prefers to travel by public transport or Ola cabs and stays in OYO hotels. He is also a philanthropist and supports various causes, such as education, health, and environment. He is also a mentor and an investor for young entrepreneurs and startups.

What are Ritesh Agarwal’s future plans and goals?

Ritesh Agarwal is not satisfied with his achievements and has bigger ambitions and goals for the future. He wants to make OYO Rooms the world’s largest and most trusted hospitality brand and serve millions of customers across the globe. He also wants to innovate and create new products and services that can solve the problems and needs of the travelers and the hospitality industry. He also wants to contribute to the growth and development of India and the world and create a positive impact on society. He is also a fan of Shark Tank, a reality show where entrepreneurs pitch their ideas to investors, and has joined the show as a judge for its third season in India. He hopes to inspire and support the next generation of entrepreneurs and innovators in the country.

Conclusion

Ritesh Agarwal is an Indian entrepreneur and the founder and CEO of OYO Rooms, one of the world’s largest hospitality chains. He is also the youngest self-made billionaire in India and the second-youngest in the world. He started his journey as a college dropout and became a Thiel Fellow, a disruptor, and a leader. He has a net worth of $1.1 billion in 2022, which is expected to grow further in the future. He is Ritesh Agarwal, and he is a role model.

ncG1vNJzZmikmZh6rrHRnJ%2BapqRjsLC5jpuss7Jfp7a1sdKhZJqfkafEoriMp5ytZaekv7W0jGtna2pdqbWmedGiqp5ln5t6qrrDopisZamkwq%2BzxKyrZpqZobmqu82aoKudXw%3D%3D