Oyo's Ritesh Agarwal is the world's second youngest self-made billionaire

• Oyo Hotels founder Ritesh Agarwal's wealth has been estimated at  ₹7,800 crore
• Ritesh Agarwal is also the richest self-made Indian aged under 40.                                  
           

NEW DELHI : Oyo Hotels founder Ritesh Agarwal has been crowned as the world's second youngest billionaire. At the age of 24, his wealth was estimated at $1.1 billion ( ₹7,800 crore) in the Hurun Global Rich List 2020. Agarwal comes second only after cosmetics queen Kylie Jenner who has also amassed $1.1 billion at the age of 22. <script type="text/javascript" language="javascript">
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Started in 2013, SoftBank-backed Oyo Hotels has already become the largest hotel chain in India and its valuation has soared to $10 billion. As the startup expands to the US and Europe after becoming the second largest chain in China, Oyo has chalked out ambitious plans of becoming the world's largest hotel chain in 2023.

Ritesh Agarwal, a college dropout, is also the richest self-made Indian aged under 40. Zerodha founders Nithin Kamath and Nikhil Kamath, both in their 30s, are also among India's richest young self-made billionaires. They are followed by Flipkart co-founders Sachin Bansal and Binny Bansal ($1 billion each) and Byjus' Raveendran family ($1.4 billion). Agarwal started a budget accommodation portal, Oravel Stays, for booking budget hotels.^[11][12] It was accepted into the accelerator program by Venture Nursery in September 2012, and later was one of the winners of the 2013 Thiel Fellowship program, receiving a grant of $100,000.^[13][14] The company was launched as OYO Rooms in May 2013.^[15][16][17]

By September 2018, the company raised $1 billion.^[18] In July 2019 it was reported that Agarwal purchased $2 billion in shares in the company, tripling his stake.^[19][20][21] His net worth in 2020 was estimated to be approximately $1.1 billion (INR 7253 crore) according to Hurun Rich List 2020. He is also the youngest self-made billionaire after Kylie Jenner, in the world.^[22]