Biography
Ritesh Agarwal is the founder and CEO of OYO and also an Indian billionaire businessman. OYO Rooms is India’s largest hotel chain, employs 1,500 people in 154 cities, and generates $3.5 million in monthly sales. Ritesh, who is 25 years old, made history in 2012 by becoming the second-youngest self-made billionaire in the world.
Agarwal has played a crucial role in the expansion of the company. Oyo’s success has been fueled by Agarwal’s strategic vision and unrelenting pursuit of excellence, which have established it as a prominent player in the travel and hospitality industries.
Ritesh Agarwal was raised at Titilagarh after being born in a Marwari family in Bissam Cuttack, Odisha, India. In Rayagada, Odisha, his family maintained a little store. Before relocating to Delhi in 2011 for college, he attended Sacred Heart School and afterward St. Johns Senior Secondary School. On March 7, 2023, Agarwal wed Lucknow native Geetansha Sood.
Ritesh Agarwal Age
Ritesh Agarwal was born on 16 November 1993 in Cuttack, Odisha, India. He is 30 years old in the year 2023.
Ritesh Agarwal Height
Agarwal is approximately 5 feet 9 inches in height with black eyes and black hair and weighs 65 kg.
Ritesh Agarwal Education
Agarwal moved to Delhi for college after he graduated from St. John’s Senior Secondary School. After the launch of OYO, he soon dropped out and became the first Indian to be selected for theil fellowship in 2013.
Ritesh Agarwal Family
Agarwal father was known by the name Ramesh Agarwal. He passed on, on March 10th, 2023 after falling from the 20th floor of a Gurugram high-rise building. Agarwal was raised in Titilagarh after being born in Bissam Cuttack, an Odisha town. He grew up in a business environment because his family used to run a little store.
Ritesh Agarwal Wife
Argawal is married to Geetansha Sood and they formalised their union in 7 March 2023.
Ritesh Agarwal’s Net worth
Ritesh Agarwal’s net worth is estimated to be 16,462 Crore in Indian Rupees.
Global Expansion and Unicorn Status of Oyo
The success of OYO Rooms went beyond the boundaries of India. When the hotel chain hit the milestone of one million check-ins and expanded its operations to Malaysia in 2016, Agarwal accomplished a significant feat. OYO Rooms began operations in Nepal the next year, further establishing its footprint in South Asia.
The business launched operations in the UK, UAE, Dubai, China, Singapore, and Indonesia in 2018 and achieved unicorn status as a result. OYO Rooms had more than 330,000 rooms in 500 locations worldwide by 2019, demonstrating Agarwal’s extraordinary capacity for leadership and empire expansion.
Ritesh Agarwal Interesting Facts
- Ritesh Agarwal is the OYO Group’s CEO and Founder.
- Ritesh Agarwal’s Age in 2023 will be 30.
- Ritesh Agarwal got married in March 2023.
- Ritesh Agarwal comes in the list of top rich of young age.
- The turnover of Ritesh Agarwal’s oyo is around $1.1 million.
- Ritesh Agarwal studied only till 12th, he was doing engineering but he left his studies midway.
- Oyo was started in 2013 by Ritesh Agarwal.
Ritesh Agarwal Fraud allegations
A businessman from Chandigarh filed a complaint against Agarwal in Dera Bassi in September 2020 for fraud and conspiracy under IPC 420 cheating (criminal conspiracy).
10,000 hotel owners in India criticized OYO. They claim that OYO takes up half or more of the earnings through fees that are hidden when the hotels sign up with OYO.
According to a report from October 2019, hotel owners in Bangalore, Mysore, and other Karnataka cities filed police complaints against OYO, accusing Agarwal of fraud. However, the latter was successful in appealing for a stay of proceedings in one case in Bangalore.
Ritesh Agarwal Career
The “Oravel Stays” Airbnb competitor was launched by Agarwal in 2011. went through the accelerator program Venture Nursery in 2012 and later won a $100,000 Thiel Fellowship as one of the winners.
In May 2013, the business debuted as OYO Rooms.
2018 saw the company raise $1 billion by September. According to reports, Agarwal tripled his position in the company by purchasing $2 billion worth of shares in July 2019.
He was listed on Forbes Asia’s 30 Under 30 list.
