Is Ritesh Aggarwal a billionaire?

From a small-town boy who used to sell SIM cards in Odisha, Ritesh Agarwal became one of the world's youngest self-made billionaires. He featured in the Hurun Rich List 2020 with a net worth of $1.1 billion.

How did Ritesh Agarwal become so rich?

At 19, he decided to build an AirBnB-like model for India and Oravel Stays was born. He started with one hotel in Gurugram, NCR and now has over 13,000 franchised and leased hotels, and over 450,000 rooms, adding over 64,000 rooms every month, globally under his brand.

Is Oyo a loss?

According to the top hotel industry body, since its inception in 2013, Oyo has been running in losses and its total turnover fell a drastic 69 per cent from Rs 13,413 crore in 2020 to Rs 4,157 crore in 2021. "Oyo is a company that has consistently registered losses since its inception.

What is the qualification of Ritesh Agarwal?

He graduated from St. Johns Senior Secondary School and moved to Delhi in 2011 for college. He dropped out of college, and was selected for the Thiel Fellowship (started by Peter Thiel) in 2013.

The World's Youngest Billionaire - Ritesh Agarwal - GroupPal Business Academy

Is OYO making profit?

OYO has weathered net losses since its inception in 2013. It may not be profitable yet, but the company did manage to narrow losses from ₹12,799 crore in 2020 to ₹3,929 crore in 2021. Atop that burden, its total income decreased catastrophically by 69% from ₹1,3413 crore in 2020 to ₹4,157 crore in 2021.

Is Ritesh Agarwal on Instagram?

Ritesh Agarwal (@riteshagar) • Instagram photos and videos.

What did Ritesh Agarwal study?

Ritesh Agarwal was born in Rayagada, Orissa. He went to the Sacred Heart School in Rayagada. Right from his school days, Ritesh was inclined towards computers, software and coding.

What is OYO full form?

OYO Rooms: On Your Own Rooms

OYO Rooms stands for On Your Own Rooms. It is India's largest hotel network which is spread over 199 cities. It is headquartered at Gurugram in Haryana. It aims is to become world's most loved hotel brand.

Who is the youngest billionaire?

Austin Russell, who became the world's youngest self-made billionaire when his automotive sensor firm Luminar Technologies went public in December 2020, has also seen his fortune slide.

Who funded OYO?

Hospitality firm OYO on Friday said it has raised TLB funding of $660 million from global institutional investors and the capital will be used for paring debt and other business investments.

Who is youngest billionaire in India?

The life story of Vijay Shekhar Sharma, is no less than a feature film. From being a son of a school teacher hailing from a small city in northern parts of India to becoming the richest and the youngest billionaire of India, his journey is truly an inspiration for most of us.

Is OYO a billionaire owner?

Merely 1 year after that, OYO founder Ritesh Agarwal has joined the billionaire club of the country. According to Hurun Global Rich List 2020, OYO founder Agarwal is the world's second-youngest billionaire. At the age of 24, his wealth was estimated at $1.1 Bn (INR 7,800 Cr) in the Hurun Global Rich List 2020.

Who is the world's 2nd youngest self made billionaire?

#2 | Wang Zelong.

Does Ritesh Agarwal know to code?

He knows no coding and has faked almost every credential prior to his funding rounds. I am not in contact with him since Oyo's second round of VC funding with Sequoia in early 2015, and can't comment if he learned some kind of coding afterwards, but much of what had to happen happened already by then.

Is Ritesh Agarwal MBA?

27-year-old Ritesh Agarwal is no newcomer to success, but also tribulations in the business world. Rather, the entrepreneur dropped out of college to chase his dream, instead of waiting for 'experience' or even that coveted MBA to get it all.

Why did Ritesh go to Kota?

Agarwal moved to Kota in the northern Indian state of Rajasthan soon after finishing his school studies to get coaching to enter the prestigious Indian Institute of Technology (IIT) and would travel to nearby Delhi over the weekends.

What is OYO famous for?

India's largest budget hotel chain, OYO rooms is one of the most preferred hotel booking destinations for a vast majority of students in the country. The rise in popularity of OYO among students is attributed to the extremely flexible booking policies which accommodate special requests and needs of the young guests.

Is Ritesh Agarwal an Iitian?

Ritesh Agarwal, OYO Rooms

He is not only the first Indian to win the Theil Felloship but also found a mention in Forbes 30 under 30 Young Achievers List. And, he did all this without going to IIT. Infact, he dropped out of Indian School of Business and Finance, Delhi.

How Ritesh Agarwal started OYO?

Agarwal started his entrepreneurial journey when he was 17 years old. Ritesh started Oravel Stays, a budget accommodation portal for booking budget hotels. Oravel Stays was an aggregator of break and bed for stays across India. Then he launched as OYO Rooms in May 2013.

Is OYO only in India?

As of January 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries, including India, Malaysia, UAE, Nepal, China, Brazil, Mexico, UK, Philippines, Japan, Saudi Arabia, Sri Lanka, Indonesia, Vietnam, and the United States.

Is OYO a loss making startup?

Founded in 2013, this Indian multinational hospitality chain of leased and financed hotels lost $526 million (approx. ₹4,050 crore).