OYO Rooms, one of the biggest hospitality firms in the world and a very familiar name in India was established by Ritesh Agarwal in 2013.
Who is Ritesh Agarwal?
Ritesh Agarwal was born on 16 November 2019 in Bissam Cuttack, a small town in Rayagada, Odisha, India. He was born into a Marwari Family. He was raised in Titilagarh. Ritesh comes from a lower-middle-class family. His family used to run a small shop. At the age of 13, Ritesh started selling SIM Cards.
Ritesh started a budget accommodation portal around 2011 named Oravel Stays. In 2013, he won the Thiel Fellowship of $100,000 and started OYO Rooms in May 2013. Today, Oyo employs more than 17,000 people globally. As of January 2020, Oyo has more than 43,000 properties and more than 1 million rooms. Oyo serves more than 800 cities in more than 80 countries which includes India, the United States, the UK, the Philippines, Mexico, China, Nepal, UAE, Brazil, Malaysia, Japan, Sri Lanka, Vietnam, Indonesia, and Saudi Arabia.
|Date of Birth||16 November 1993|
|Birthplace||Rayagada, Odisha, India|
Ritesh Agarwal Age, Height, Weight
Born in 1993, Ritesh turned 29 years old. He stands 5 feet 9 inches (175 cm) tall and weighs around 70kg (154 lbs). His hair and eyes are black.
|Height||5 feet 9 inches (175 cm)|
|Weight||70kg (154 lbs)|
|Hair and Eyes colour||Black|
Ritesh Agarwal Education
He did his schooling at Sacred Heart School, Rayagada. For higher education, he got admitted to St. John’s Senior Secondary School, Bundi Road, Kota, Rajasthan. Later he dropped his higher education.
|School||Sacred Heart School, RayagadaSt. John’s Senior Secondary School, Bundi Road, Kota, Rajasthan|
|College||Indian School of Business and Finance, Delhi|
Ritesh Agarwal Family
No information is made public by The Oyo founder about his family. Any information about his family is not available in the public domain.
Ritesh Agarwal Relationships
Ritesh Agarwal is unmarried right now. No information is available about his current and previous relationships publicly.
Ritesh Agarwal Social media
Ritesh Agarwal Net worth in 2022, Salary, Assets
In September 2018, Oyo raised $1 billion. According to some reports in 2019, Ritesh purchased $2 billion worth of shares in his company. This purchase tripled his stakes. In 2022, Ritesh Agarwal’s net worth is more than Rs 7253 crores (around $1 billion).
Ritesh Agarwal Controversies
- Some employees of Oravel accused Ritesh of being a liar. They said he can’t even code.
- Kunal Pandya from NCrypted Technologies accused him of fraud. He claimed that in exchange for some shares, Ritesh received a licence to use his vacation rental website, BistroStays. But it never actually happened.
- On a complaint of fraud filed by Natarajan V R S, in 2019, Bangalore police booked Ritesh Agarwal and his two representatives. Natarajan accused them of cheating. He said Oyo told him that they will give 80% to him and keep 20% for a reservation. But they kept 80% and gave him 20%. It has caused him a loss of 1 crore.
- The Mohali police registered a case of “Fraud and criminal conspiracy” against him on 14 September 2020 on a complaint by a Chandigarh-based businessman.
- In 2018, Zostel, another hospitality firm, accused them of not paying the acquisition amount, which was 7% stakes in Oyo.
Some lesser-known facts about Ritesh Agarwal
- At the age of 13, Ritesh used to sell SIM Cards.
- He attended several entrepreneurship events rather than attending his university classes. He was enrolled in the University of London’s International program Provided by the Indian School of Business and Finance. He never felt connected with his studies.
- He dropped out of college to pursue his dream of being an entrepreneur.
- He founded ‘OYO Rooms’ in 2013, an Indian hotel chain brand that standardised hotel rooms. Oyo operates across India as well as abroad.
- In 2013, he earned a fellowship of $100,000 from ‘Thiel Fellowship’. This program was initiated by the founder of PayPal, Peter Thiel. In this program, students were trained by several revolutionary entrepreneurs including Tesla founder Elon musk and Facebook founder Mark Zuckerburg. He was the first Asian to receive the Thiel Fellowship.
Is Ritesh Agarwal still a billionaire?
Yes, Ritesh Agarwal is still a billionaire having a net worth of more than $1 billion.
Who is the owner of OYO?
Ritesh Agarwal established Oyo in 2013. He is the owner and CEO of the company.
What is Ritesh Agarwal’s salary?
Ritesh Agarwal’s salary rose to 5.6 crores per annum by the financial year ending march 2022.
At what age did Ritesh Agarwal start OYO?
He was 20 years old when he started Oyo.
What is the net worth for Ritesh Agarwal?
In 2022, Ritesh Agarwal net worth is more than Rs 7253 crores (around $1 billion).