Ritesh Agarwal, born on November 16, 1993, is an Indian billionaire businessman who started OYO Rooms. He’s the big boss there, known as the CEO. You might have seen him on Shark Tank India (season 3) since 2024. His pockets are pretty deep too; his net worth is said to be about ₹16,000 crore as of March 2024.
Personal Life
Ritesh Agarwal was born into a Marwari family in Bissam Cuttack, Odisha, India, and grew up in Titilagarh. His family ran a small shop in Rayagada, Odisha. He went to Sacred Heart School and later St. Johns Senior Secondary School before heading to Delhi for college in 2011.
Agarwal tied the knot with Geetansha Sood, who is from Lucknow, on March 7, 2023.
Career
In 2011, Agarwal kicked off a business similar to Airbnb called “Oravel Stays,”. He got a boost when his venture was selected for the Venture Nursery accelerator program in 2012. Later, he bagged a cool $100,000 grant after winning the 2013 Thiel Fellowship.
Then, in May 2013, he rebranded his company as OYO Rooms. The business soared, and by September 2018, it had gathered a whopping $1 billion in funding. Agarwal himself showed his confidence in the company by buying $2 billion worth of shares in July 2019, which tripled his ownership stake.
His achievements didn’t go unnoticed. He made it to the prestigious Forbes 30 under 30 list for Asia. And in 2023, he made history by becoming the youngest Shark ever to grace the set of Shark Tank India.
Net worth
As of March 2024, Ritesh Agarwal’s net worth is estimated to be around ₹16,000 crore.
Business Owned by Ritesh Agarwal
Ritesh Agarwal has invested in 16 rounds so far. His latest investment was in WiseLife during an Angel Round on March 1, 2024. Some notable companies he’s invested in include Unacademy, Cars24, and Zingbus. His investments cover a wide range of sectors, including consumer goods, business software, and more. These investments are spread across companies based in India, Singapore, and one other location.
1. Unacdemy
A SaaS-based platform is like an online tool that offers different kinds of learning materials and helps you get ready for tests in various subjects.
Total Funding: $881M
2. Cars 24
It’s like a mobile app where you can shop for used cars.
Total Funding: $1.41B
Ritesh Agarwal owns two very successful companies. One is Unacademy, which helps people learn online, and the other is Cars24, where you can buy and sell used cars. These companies are called “unicorns” because they’re valued at over a billion dollars each.
3. OY0
It’s similar to a website or app where you can reserve hotel accommodations over the Internet.
Total Funding: $3.24B
4. RA MPL Holding
It’s like a company that manages money for a wealthy family, and they invest that money in different types of businesses.
5. OYO Cafe
It’s like OYO Rooms’ project focused on developing new food-related technology.
Also Read: Namita Thapar Emcure, Networth, Shark Tank, Age, and Education
Age
Ritesh Agarwal is 30 years old, born on November 16, 1993.
FAQs
Does Ritesh Agarwal own a private jet?
As per reports, Ritesh Agarwal owns a private jet, a fancy way to travel. It’s said to be worth around USD 20 million.
What is the highest salary in OYO?
At Oyo Rooms, the highest-paying job is Director of Engineering, with a salary of ₹92.1 lakhs per year. The top 10% of employees earn over ₹18 lakhs per year, while the top 1% earn more than ₹50 lakhs per year.
Who designed the OYO app?
Ritesh Agarwal started OYO in 2012, focusing on budget hotels at first. By January 2020, OYO had grown to include over 43,000 properties and 1 million rooms in 800 cities across 80 countries.