Ritesh Agarwal: The second youngest self-made billionaire in the world
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Meet the self made billionaire
, founder of OYO Rooms, is the second youngest self made billionaire in the world, according to the ninth edition of the Hurun Global Rich List 2020. The 26-year-old Indian entrepreneur comes second only after the cosmetics queen Kylie Jenner.
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A college dropout
Agarwal comes from Bissamcuttack, a small town south of Odisha, a region known to teem with Naxalite activity. He is a dropout, which made him eligible for the Peter Thiel fellowship for $100,000.
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A dream to control
He was motivated to start OYO Rooms so that he could be in control of the TV remote, which wasn’t possible when he stayed with relatives when he was a child.
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The entrepreneurial journey
Ritesh Agarwal, hailing from a business family, moved to Delhi in 2011 to start his entrepreneurial journey after deciding to skip engineering college entrance exams.
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How it started
It was when he was 18 that he founded Oravel Stays, which was building the Indian version of home sharing portal AirBnB.
Agarwal got in touch with accelerator VentureNursery, flew down to Mumbai and got seed funding of around Rs 30 lakh after a three-month programme.
Agarwal got in touch with accelerator VentureNursery, flew down to Mumbai and got seed funding of around Rs 30 lakh after a three-month programme.