Ritesh Agarwal the founder and CEO of ‘On Your Own’ Rooms commonly known as OYO Rooms, once dropped out of college is now named as the world’s second youngest billionaire according to Human Global Rich List 2020. At a very young age of 26, this business magnate’s net worth of $1.1 billion with an increase of Rs. 300 crore since last year.
He was born in a business-family in Bissan Cuttack, in Odisha, India. He Studied in Sacred Heart School in Raygada, Odisha. In 2011, he went on to Delhi for colllege but his enduring will to start something on his own made him drop out of college and camp on the door step of becoming an entrepreneur .
The digital-savvy trait at the age of 10 made him start coding. Since childhood, he was passionate towards travelling which made him realize the serious urgency for decent lodgment facilities for the budget conscious itinerants in India. He used his fascination towards technology and passion for travel for solving the problem. He started to travel across the country and approached 100 hotels to tie up. Despite being made fun of the passion for his dream never blurred. His strong-willed attitude of starting small, nailing it and making it big made him start OYO in 2013.
The company now includes investors like oftBank Group, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise, Airbnb and China Lodging Group.
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