Ritesh Agarwal-The youngest self-made billionaire in the world
Ritesh Agarwal- A 23 years old Orissa boy, is one among the youngest and most successful entrepreneur of India.
Ritesh Agarwal is a man hungry for “success and implementing innovations”, he agrees that he is ready to try for an innovative ideas even if it has a 5% chance of success.
He grew up with big dreams in life, once asked by his teacher in the school about what he wants to become in life, he, replied “entrepreneur” – his reply was unique because at that time in a small town like Rayagada of Orissa. Such thinking was never expected out of a teenager from a small town. At his age in the school, everybody wanted to be a doctor, an engineer or a layer.
He believed in dreaming big, and then chasing the dream with full efforts.
Actually Mr.Ritesh wanted to be an airlines Pilot, but, as he listened from his brother about some entrepreneurship test. the word entrepreneurship was new to him, he went ahead and goggled the term to know about its meaning and read a lot of success stories ,this incidence made him decide to be an entrepreneur in life.
Ritesh Agarwal is the founder and CEO of OYO Hotels & Homes. Travelling across India at the age of 17, Ritesh stayed in more than 100 guest houses, and hotels to realize there was a massive dearth of affordable and good-quality hotels in the budget hotel category. He believed that everyone deserves a beautifully designed, chic and comfortable living space. And everyone deserves a better life. That’s how OYO was launched in May 2013. OYO today is the world’s leading chain of hotels, homes, and spaces.
The concept of OYO hotels is to create an ecosystem at affordable prices that is a Wining situation for the company, the hoteliers and the customers.
Ritesh Agarwal was born in Bissam Cuttack, in Odisha state, India and brought up in Titilagarh. At the age of 13, he started selling SIM cards.
After completing his 10th education Mr.Ritesh first went to Kota, everyone thought he was at Kota preparing for his engineering entrance examinations, but actually he had moved to Kota as he wanted to give wings to his entrepreneurial spirit ,a wing to fly, he believed that he can do this very well when he is away from his home town.
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 Peter Thiel Fellowship in 2013.
Every weekend Mr.Ritesh would travel to Delhi from Kota by train, just to attend conferences hosted by some entrepreneurs. By listening to different entrepreneurs his dream to be big and do innovation was more strengthened.
Mr.Ritesh was most inspired by Mr.Rahul Bhatia who was a big name in consumer products.
Ritesh Agarwal started a budget accommodation portal, Oravel Stays, for booking budget hotels. 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. The company was launched as OYO Rooms in May 2013.
By September 2018, the company raised $1 billion. In July 2019 it was reported that Agarwal purchased $2 billion in shares in the company, tripling his stake. His net worth is 2020 was estimated to be approximately $1.1 billion (INR 7253 crore) according to Hurun Rich List 2020. He is currently the youngest self-made billionaire in the world
The story of Mr.Ritesh Agrawal proves that-
- Opportunities lies everywhere, the question is that, are we present there to catch hold of the opportunity?
Do we have the courage to take a risk and prove our presence?
Are we ready to accept failure, learn from them and stick to the big goal?
If the answer to these question is a positive, yes, we can be Ritesh Agarwal .
- The 2nd thing that we learn is that innovation is the key to success and if we are ready to accept innovation ,then sky is the limit.
Stay Tuned for more success stories………………
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- “Here are 6 interesting facts you didn’t know about OYO founder Ritesh Agarwal”. Business Insider. Archived from the original on 29 July 2019. Retrieved 29 July 2019.
^6 Oct, TNN | Updated; 2015; Ist, 17:19. “21-Yr-Old Start-Up Entrepreneur Ritesh Agarwal Started By Selling SIM Cards In Rayagada”