Shark Tank 3: Meet youngest 'Shark' Ritesh Agarwal; life journey to Net Worth of OYO's CEO
Shark Tank 3: The 29-year-old Founder and CEO of Oyo Rooms is a self-made billionaire, and here is everything that you need to know about Ritesh Agarwal.
The popular business reality show 'Shark Tank India' is all set to make its comeback with its third season. The announcement teaser of the show has already created a buzz among the viewers. The 'Shark' panel this year has a new addition with the young owner of Oyo Rooms, who is none other than Ritesh Agarwal.
In the teaser for the upcoming season of 'Shark Tank', Ritesh Agarwal is introduced alongside Anupam Mittal, Vineeta Singh, Aman Gupta, and Peyush Bansal, all of whom have been part of the show since its inception.
The 29-year-old Founder and CEO of Oyo Rooms is a self-made billionaire, and here is everything that you need to know about Ritesh Agarwal.
Ritesh Agarwal's Journey
Ritesh Agarwal's journey to becoming a self-made billionaire is nothing short of remarkable. Born in 1993 into a Marwari family in Cuttack, Odisha, he attended St. Johns Senior Secondary School. His entrepreneurial spirit was evident from a young age; at just 13 years old, he was selling SIM cards after school. Later, he moved to Delhi for higher education but made the bold decision to drop out of college to pursue his business dreams, a move that earned him the prestigious Thiel Fellowship. While he missed out on a traditional college education, he credits the fellowship for the invaluable learning experiences that shaped his path.
The beginning of 'Oyo'
In 2013, Ritesh Agarwal founded Oyo Rooms with a vision to provide budget-friendly accommodation options. Starting as Oravel Stays, Oyo quickly disrupted the Indian hospitality industry. Since its inception, the company has experienced remarkable growth, acquiring numerous hotel rooms and homes, which were then transformed into Oyo-branded properties. Today, it goes by the name "Oyo Hotels and Homes."
Ritesh Agarwal's Net Worth
Oyo Rooms has seen incredible growth since its establishment in 2012. It was reported that in 2021, the company's total assets were about Rs 8,324 crores. The revenue estimates for the FY23 increased to Rs 5,700 crores. Ritesh Agarwal is also the second youngest self-made billionaire with a net worth of about Rs 16, 462 crores as per the reports.