Ritesh agarwal is an indian billionaire entrepreneur , founder and CEO of OYO rooms. In March 2024 Ritesh Agarwal’s net worth is estimated to be about ₹16,000 crore. He gained popularity as the founder of world’s most affordable hotel chain OYO. He started his business at the age of 17.
There are many successful people but few are as successful as Ritesh. What inspired Ritesh agarwal to become a successful businessman in his early life? Which things inspired him to develop an affordable hotel chain? If you have these types of queries in your mind then you have come to the right page. Because today we will talk about the entire life of Ritesh Agarwal . Let’s have a look at Ritesh agarwal’s biography and early life.
Biography
| Attribute | Details |
| Full Name | Ritesh Agarwal |
| Date of Birth | November 16, 1993 |
| Birthplace | Bishama Katek, India |
| Family Background | Marwari family; family expenses met from a small shop in Rayagada, Odisha |
| Education | Sacred Heart School, St. John’s Secondary School; moved to Delhi in 2011 for college (dropped out to become an entrepreneur) |
| Spouse | Geetansha Sood (married on March 7, 2023) |
| Children | A son named Aryan (born on December 7, 2023) |
| Business Venture | Founder and CEO of OYO Rooms |
| Net Worth (March 2024) | ₹16,000 crore (approximately $1,919,609.60 in USD) |
| Achievements | Became a billionaire at age 23; expanded OYO to more than 1000 hotels across India, offering over 330,000 rooms globally; appeared |
Ritesh agarwal was born on 16 november 1993 in Bishama Katek, India. He was born in a Marwari family. Ritesh’s family’s expenses were met from a small shop in Rayagada, Odisha. He completed his early education from Sacred Heart School, and later St.Johns Secondary school. Then he moved to Delhi in 2011 for college.he decided to drop out of college to become an entrepreneur.
He tied the knot with Geetansha Sood on 7 March 2023. He along with his wife welcomed a baby boy Aryan on 7 December 2023.
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Interests of Ritesh Agarwal
Ritesh Agarwal was very obsessed with technology, especially computers,, from a young age. He started coding at the age of 10. His other main interest was traveling. Once while traveling, he thought there was a need for hotels at reasonable cost in India. Where basic services should be given to people. For basic needs, there is Wi-Fi, AC, comfortable beds, and breakfast facilities.
Startup of OYO rooms
He wanted to provide basic needs to travelers at an affordable price. This urge gave him a hunch to do something. However it was difficult for him as he was not familiar with entrepreneurship. But he developed his plane and showed to some investors, he received $100,000 in funding which helped him to start his entrepreneurship journey.
Entrepreneurship is not a destination, it is a journey. Ritesh developed an Oravel stays platform(later named as OYO) as the startup of his journey. Oravel stays helped people to find the nearest pocket friendly hotel.
The main purpose of his company was to provide standard services and to remove unpredictability.
So he decided to solve these problems with the Help of OYO.
Many people don’t know OYO stands for “On Your Own.” Ritesh Agarwal later updated his business and converted it into a better one known as OYO rooms.
They start providing affordable rooms with standard facilities in more than 1000 hotels across India and OYO doesn’t own any of those hotels. This concept made Ritesh Agarwal a billionaire at the very young age of 23.
He has also appeared in Shark Tank India.
How OYO rooms go through years with success
In 2013 Ritesh Agarwal received a $100,000 grant as part of Thiel Fellowship.
In 2014 Secures first series A funding.
In 2015, March Attracted $25 million in funding.
In 2015 – April: Launches OYO app, initiating rapid expansion.
In 2015, July he Secured $100 million in series C funding from SoftBank.
In 2016 he Achieved a milestone of 1 million check-ins, expanded to Malaysia.
In 2017 Ventures entered the Nepal market.
In 2018 Expands globally, establishing presence in UK, UAE, Dubai, China, Singapore, and Indonesia; achieves unicorn status.
In 2019 Expands to over 500 cities globally, offering more than 330,000 rooms.
He is such an inspiration for the young people to develop your useful thoughts into action. By reading this blog you can get information about how Ritesh Agarwal developed his own business all over the world and is known as the young billionaire.
Ritesh Agarwal net worth
Ritesh Agarwal net worth is ₹16,000 crore which is 1,919,609.60 in USD.
FAQs
What is Ritesh Agarwal’s current net worth?
Ritesh Agarwal’s net worth is estimated to be about ₹16,000 crore as of March 2024.
How did Ritesh Agarwal become a billionaire?
Ritesh Agarwal became a billionaire by founding OYO Rooms, the world’s most affordable hotel chain, which expanded rapidly and became highly successful.
What is the significance of Ritesh Agarwal’s net worth?
Ritesh Agarwal’s net worth is significant as it reflects the success of his entrepreneurial journey and the impact of OYO Rooms in the hospitality industry.