Ritesh Agarwal Net Worth: Entrepreneurs are a big help to the economy and growth of a country. People even call them stars and icons. Everyone must have heard the name “OYO” or stayed at this well-known hotel. But do you know who the well-known person is that started this business? Well, here’s what I’ll say. It’s Ritesh Agarwal, who is the second-youngest billionaire and one of the most inspiring business people. Want to learn more about this famous young person? If so, let’s keep reading without further ado.
Who is Ritesh Agarwal?
Ritesh Agarwal is an Indian businessman who has made a billion dollars. He started OYO Rooms and is its CEO. He was born on November 16, 1993, in Bissam Cuttack, Odisha, India, to a Marwari family. He grew up in Titilagarh. In 2012, Ritesh Agarwal started his job by launching Oravel Stays, a website that helps people find cheap hotel rooms. This start-up was accepted into Venture Nursery’s accelerator program and won the 2013 Thiel grant program in the same year.
In 2020, he was the world’s second-youngest billionaire. He worked hard and got the Business World Young Entrepreneur Award because of it. Oyo Rooms is one of the biggest hotel chains in India. It has 2,200 hotels in 154 places. It gives jobs to about 1,500 people.
Ritesh Agarwal Net Worth
Starting from a lowly position, Ritesh Agarwal’s rise to the top of the hotel industry is proof of his unwavering drive and entrepreneurial spirit. His net worth right now is $2 billion, which is equal to Rs. 16,462 crores. The majority of his wealth comes from his business, OYO Rooms, which is a very successful company that has done very well around the world. In 2021, he made history by becoming the youngest Indian business owner ever to make Forbes’ Billionaire list.
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Ritesh Agarwal Income and Salary Details
In the financial year 2022, Ritesh Agarwal’s pay went up by a lot. From Rs. 1.6 crores in FY21 to Rs. 5.6 crores in FY22, his pay went up by 250 percent. His pay in FY20 stood out because it was Rs. 21.5 lakhs. Agarwal has invested in more than just his main startup business. He has put money into the hotel, real estate, and education industries, among others. He also has shares in a number of venture capital and private equity funds, which have helped him build up a lot of wealth overall. He makes 10 crores a month and 100 crores a year, which adds up to his overall earnings.
Ritesh Agarwal Cars Collection
Ritesh Agarwal owns a number of luxurious cars, including:
- Mercedes Benz S 350D valued at Rs. 1.4 crores.
- Audi A4 is priced at Rs. 45 lakhs.
- Range Rover Sports costing Rs. 1 crore.
- Mercedes Benz E200 worth Rs. 64 lakhs.
- Toyota Fortuner valued at Rs. 36 lakhs.
Agarwal owns a private jet, which is believed to be worth $20 million. He also has a collection of expensive cars.
OYO Net Worth
The present value of OYO is more than $10 billion, making it one of India’s most valuable startups. During its history, the company has gotten more than $2 billion in venture capital backing from big names like SoftBank, Sequoia Capital, and Greenoaks Capital. Other venture capital companies, such as Lightspeed Venture Partners, Hero Enterprise, and China Lodging Group, have also invested in OYO.
In January 2022, more than 500 current and former workers put money into the company. They bought about 30 million shares. Based on OYO’s last valuation of $9.6 billion, these shares were thought to be worth around Rs. 330 crores, which is about $41 million.
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Ritesh Agarwal Career
Ritesh Agarwal, the founder of Oyo, set up the online hotel booking service Oravel Stays to help visitors on a tight budget. It was accepted into Venture Nursery’s growth program in September 2012, and it later won a $100,000 grant from the 2013 Thiel Fellowship program. In May 2013, the company first opened as Oyo Rooms.
By September of 2018, the company had raised $1 billion. Reports say that Agarwal tripled his share of the company in July 2019 when he bought $2 billion worth of shares.
In 2020, the Hurun Rich List said that his net worth was about $1.1 billion (about Rs. 7253 crores). As of February 2020, he is the second youngest self-made billionaire in the world, after Kylie Jenner. Forbes has put Ritesh Agarwal, the founder of Oyo, on its list of Asia’s 30 under 30.
Conclusion
Ritesh Agarwal, the second-youngest billionaire in the world, started OYO Rooms in 2012 as an online hotel booking service. The company has since grown to become one of India’s largest hotel chains, with 2,200 hotels and 1,500 jobs. Agarwal’s net worth is $2 billion, equivalent to Rs. 16,462 crores. He has invested in various industries, including hotel, real estate, and education, and has a private jet worth $20 million. OYO Rooms has received over $2 billion in venture capital backing from major companies like SoftBank, Sequoia Capital, and Greenoaks Capital. Agarwal’s net worth is estimated to be around $1.1 billion, making him the second-youngest self-made billionaire globally.
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