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Shark Tank India has been one of the most loved reality shows these days. The latest addition to the show is OYO founder Ritesh Agarwal, who has joined the Sharks panel and is ready to invest in entrepreneurs. The 30-year-old has had an impressive journey and enjoys a net worth of billions!
Yes, you read that right. The newest Shark on Shark Tank India enjoys a net worth of a staggering 16,000+ crore. In fact, his growth is so impressive that his net worth jumped by 100% in the last 4 years.
During the COVID year, in 2020, Ritesh’s net worth was around 8,000 crore! That is how businesses are done right. His company, OYO Rooms, is currently valued at a whopping 74,000 crore. He was the first Indian resident to win the ‘Thiel Fellowship’ with a grant of $100,000.
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With this 82 lakh rupees, he started OYO rooms in 2013 with just 5 hotels in Gurgaon, and the rest, as they say, is history. In 2018, he raised $1 billion for the company, which made him the youngest self-made billionaire in India.
Next To Kylie Jenner
In the Hurun Global Rich List 2020, he was named the second richest self-made billionaire in the world under 40, next to Kylie Jenner. However, considering the fact that Kyle belongs to one of the biggest families in the business and her market value was established due to the same, Ritesh was the richest self-made billionaire under 40.
Meeting Donald Trump
When the former US President visited India, Ritesh Agarwal was included in the group of young honchos of the nation who were proudly introduced to the US President. Ritesh was invited to come and invest in the US.
What Is OYO
OYO means On Your Own. It is based on a business model where hotel owners approach OYO rooms or vice versa and enter into a collaborative project.
Ritesh Agarwal’s Humble Background
Ritesh belongs to a small town in Odisha where his father is a shop owner. He started selling SIM cards at the age of 13 and then founded Oravel Stays during college, which offered the exact same services as AirBnB.
Well, now that the businessman has taken a chair in Shark Tank India, we hope he will motivate some new young and fiery minds to change the fortune of the economy.
Stay tuned to Koimoi for updates.
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