Who is Ritesh Agarwal?
Ritesh Agarwal is an Indian entrepreneur.
He is the founder and the CEO of “OYO Hotels and Homes”, which is more popularly known as “OYO Rooms”.
Mr. Agarwal is also the second youngest billionaire from India and known popularly for his impeccable business skills.
In this article,
You’ll be getting all of the facts such as Ritesh Agarwal Net Worth, Biography, Lifestyle and everything else.
Ritesh Agarwal Net Worth 2021
|Full Name||Ritesh Agarwal|
|Profession||Actor, Film Producer|
|Ritesh Agarwal Net Worth in USD||$ 1.4+ Billions|
|Ritesh Agarwal Net Worth in Indian Rupees||₹ 7400+ Crores|
Ritesh was born in Raigada District from Odisha.
He went to a Catholic school which had a mere-fees of less than $3 per month.
One thing which was very pure or different about Ritesh was this that he always wanted to become different and he always wanted to make a difference, and who knew that time, that this small mind is going to build a company like OYO and make a change.
One day in the afternoon his elder sister came back from a Seminar and when she was telling about the event to her family, she mentioned a word called ‘Entrepreneurship’, by which Ritesh thought of it as a very much different and fancy.
So he then drew some more information about it from a dictionary.
Then to make a difference whenever Ritesh’s teacher or anyone who used to ask Ritesh about his dream to achieve or a simple question saying “what he wanted to become in future? He then used to answer that he wants to become an ‘Entrepreneur’.
Little guy Ritesh at that point just wanted to become different and just wanted to be a nice guy in the class, but he didn’t know that the society is going to make fun of him, and same thing happened with him, but he didn’t stop, he started working on himself and by that time he got to know that the whole society and his own family won’t let him allow his freedom to achieve or do anything with his life.
So he chose to study further in some other city which is far-far away from his homeplace. So he could have his freedom and do whatever he wants. So, later he went to ‘Kota’ for his Engineering studies.
But then his curiosity to become an ‘Entrepreneur’ never died.
He used to search for Entrepreneurship seminars in the town or he used to weekending in New Delhi to grab the opportunity of attending those seminars in Delhi which is a very fun fact about him, because in that very little age he used to do all these things behind the back of his family members.
So every Saturday – Sunday, he used to travel to Delhi, attend those seminars, and then come back to Kota and resume his studies.
Then one thing led to another and then finally he started a company called ‘Oravel Stays’.
It was accepted into the accelerator program by Venture nursery in September 2012, and later was one of the winners of the 2013 THIEL FELLOWSHIP Program, receiving a grant of $100,000. So, amongst those all the lucky persons in the program, Ritesh was the only one who was from ASIA.
Later in May 2013, he relaunched his company by renaming it as ‘OYO’ which stands for “On Your Own”.
The idea behind choosing this topic of building a million-dollar compony like this had crossed Ritesh’s mind right before the fellowship as he wanted to do something unique and helpful for the society.
He then once thought that there are no good quality facilities available for a budget traveler, but he chose to make a change instead of just chit-chatting.
The thought of building OYO was in his mind from very long ago.
After coming back from the US, he then took one project in his hand to work on, he went to one hotel owner and talked to him confidently, that he’ll increase the owner’s profit by two times.
As expected, the owner didn’t agree at first but then somehow Ritesh managed to get that project in hand by making a deal like “if the hotel’s income doesn’t increase then the total loss will be of Ritesh, and if the project goes into profit then the profit will be divided in two parts by which one part goes to the owner and the other to Ritesh”.
But guess what?
Ritesh successfully increased the profit of the hotel, and it cost him ₹ 35,000 of investment.
For that he had to change the lamps, lights, Air conditioners and a lot of things like bed-sheets, curtains, etc. to make the hotel attractive.
He then clicked some good pictures of the hotel and uploaded them on internet.
By following these techniques, Ritesh started attaching many more hotels to his chain and he named those hotels as OYO.
Isn’t it interesting, to achieve this much success in that very little age, but he did not stop there, he started growing his business and currently he owns more than 46,000 hotels in India and he also has grown his business in other countries like China too.
Things To Mention | Billionaire Says
Things To Mention
- It is never easy to make a change In the society, so was with Ritesh
- It wasn’t easy for Ritesh to get his first hotel project, no one was ready to believe in him, people would say that they run their hotel business from years and how Ritesh is going to increase their income in just few months.
- It is not that easy to get the THIEL FELLOWSHIP, but if you have that ability then you surely can!
- Ritesh comes from a small village called Bissam Cuttack, and that village had a literacy rate of 33%.
- Ritesh had started/ learnt coding when he was just 8 years old.
Quote of the day
For any change to happen in your life, you must be wrong about something.– Mark Manson