Ritesh Agarwal- Networth, Age, Career, Family, Wife

Check out all the details about Ritesh Agarwal like his biography, age, career, wife, controversies, interesting facts, etc.

Profile Summary

Table Of Content 

• Networth 
• Career
• Controversies
• Education 
• Age 
• Family
• Wife
• Awards 
• Biography
• Interesting Facts

Networth 

Ritesh’s net worth is said to be around 2 billion dollars as of the year 2023.

Career

Around 2011, Agarwal started a service called "Oravel Stays" which was like Airbnb. In 2012, Agarwal's business went through the Venture Nursery incubator programme. It was then one of the winners of the 2013 Thiel Fellowship and received a $100,000 grant. It began as OYO Rooms in May 2013.

The business had raised $1 billion by September 2018. It was said that Agarwal bought $2 billion worth of shares in the company in July 2019, which tripled his stake.

Forbes put him on their list of 30 under 30 Asian people. He was the youngest shark to appear on Shark Tank India in 2023.

Controversies

• Ritesh Agarwal is accused of cheating on Manish Sinha, who helped start Oyo, in the early days of the business.

• Ritesh Agarwal made deals with hotel owners in the US through his company OYO. The owners' buildings would be rebranded with the OYO name in exchange for money and a promise of income. However, Agarwal didn't tell the hotel owners that OYO isn't allowed to run a franchise business in the state of California, which got them a $200,000 fine in March 2019. Washington, D.C., also told the company to stop what it was doing after police found that OYO had made offers to many hotel owners and managers without being registered.
  

• An Indian businessman from Chandigarh filed a fraud and conspiracy case against Agarwal in Dera Bassi in September 2020. The charges were under IPC 420 (cheating) and 120 B (criminal conspiracy).

• 10,000 hotel owners in India spoke out against OYO. They say that OYO takes at least half of the money made through fees that aren't made public when the hotels sign up with OYO.

• Police were called to OYO by hotel owners in Bangalore, Mysore, and other towns in Karnataka in October 2019 to investigate claims of fraud made by Agarwal. The latter, on the other hand, was able to get a stay order on one case in Bangalore.

Education 

He finished school at Sacred Heart School and then St. Johns Senior Secondary School. In 2011, he moved to Delhi to go to college. He signed up for the International Programme at the well-known Indian School of Business and Finance at the University of London.

Age

Ritesh Agarwal was born on 16 November 1993. He is 31 years old as of the year 2024

Family

In his family, there are only 3 people. That is himself, his father whose name is Ramesh Agarwal died after falling from the 20th floor of a Gurugram high-rise building on 10th March 2023. His mother's name is not known to the public. 

Wife

Ritesh Agarwal got married to Geetansha Sood on 7th March 2023. Geetansha is from Lucknow. They also have a boy child together, his name is Aryan 

Awards 

Year:2013

• Top 50 Entrepreneurs

• Finalist in the Global Student Entrepreneurship Awards

• 8 Hottest Teenage Start-Up Founders

Year: 2014

• TiE-Lumis Entrepreneurial Excellence Award 

Year:2023

• ’20 Under 20’ Thiel Fellowship

Biography 

Ritesh Agarwal is a wealthy businessman who started OYO and is now its CEO. Through its 1,500 workers in 154 towns across India, OYO Rooms is India's biggest hotel chain, with monthly sales of $3.5 million. A 25-year-old Ritesh became the world's second-youngest self-made billionaire in 2012.

Agarwal was interested in business and started his own business from a very young age. He started his first business when he was 17. It was an online school called Oravel Stays, which later changed its name to OYO Rooms.

Agarwal went to the Indian School of Business and Finance in New Delhi to study, but he dropped out to focus on his business. He won a famous award for young entrepreneurs in 2013 called the Thiel Fellowship. This gave him money and helped to pursue his startup ideas.

When Agarwal started OYO Rooms in 2014, it was just an Indian site for finding cheap hotels. OYO Rooms quickly became popular with travellers on a budget, and Agarwal quickly spread the business to China, the US, and Europe, among other places. One of the biggest hotel groups in the world, OYO Rooms now has over 43,000 hotels in over 800 places in 80 countries.

Interesting Facts 

• When he was 13, Ritesh sold SIM cards.

• Even though he signed up for the Indian School of Business and Finance's International Programme at the University of London, he never felt really linked to the course. Instead, he went to a lot of events for businesses.

• At age 17, Ritesh quit college to follow his dream of starting his own business. Most kids his age don't even know what to do.

• In the year 2023, Ritesh Agarwal was a judge on the business reality TV show "Shark Tank India." Sony Entertainment Television (SET) and SonyLIV both showed the show.

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