Shark Tank India’s third season has grabbed eyeballs, not just for its budding entrepreneurs, but also for its newest Shark – Ritesh Agarwal, the founder of OYO. His astronomical net worth and inspiring entrepreneurial journey have sparked curiosity across the internet. Let’s delve into the story behind this self-made billionaire!
From Humble Beginnings to Billion-Dollar Heights: Ritesh Agarwal’s Net Worth
At just 30 years old, Ritesh Agarwal boasts a phenomenal net worth of Rs. 16,000 crore. This impressive figure doesn’t just speak volumes about his success, but also highlights his remarkable growth – his net worth doubled in just the last four years! Even amidst the global pandemic in 2020, when many businesses struggled, Ritesh’s net worth stood strong at Rs. 8,000 crore. Today, his company, OYO Rooms, is valued at a staggering Rs. 74,000 crore.
The Rise of OYO: From 5 Hotels to a Hospitality Giant
The year 2013 marked the beginning of Ritesh’s entrepreneurial journey with OYO Rooms. Starting with a mere investment of Rs. 82 lakh and just 5 hotels in Gurgaon, OYO has grown into a behemoth in the Indian hospitality industry. In 2018, a $1 billion funding round propelled Ritesh to the prestigious title of India’s youngest self-made billionaire, even earning him the second spot globally (behind Kylie Jenner) at the time.
A Meeting with Trump and Global Recognition
Ritesh’s success transcends national borders. During former US President Donald Trump’s visit to India, he was included in the group of young Indian executives introduced to the President and even received an invitation to invest in the US.
What is OYO?
OYO stands for “On Your Own,” aptly reflecting its business model of offering leased and franchised hotels, homes, and living spaces. Founded in 2013, OYO has become a multinational hospitality chain, with Ritesh Agarwal at the helm as both founder and CEO.
FAQs: Unveiling the Shark’s Story
1. How did Ritesh Agarwal start OYO?
Inspired by Airbnb, Ritesh launched OYO in 2013 with just 5 hotels in Gurgaon, India.
2. What is Ritesh Agarwal’s current net worth?
Ritesh enjoys a net worth of a whopping Rs. 16,000 crore, which has doubled in the last four years.
3. What is OYO’s current valuation?
OYO Rooms is currently valued at Rs. 74,000 crore.
4. When did Ritesh Agarwal become a billionaire?
Ritesh became India’s youngest self-made billionaire in 2018 when his company received a $1 billion funding round.
5. What other achievements does Ritesh Agarwal have?
Ritesh was the first Indian resident to win the prestigious Thiel Fellowship and was even invited to meet and potentially invest in the US by former President Donald Trump.
