Ritesh Agarwal
Ritesh Agarwal (born 16 November 1993) is an Indian billionaire entrepreneur and the founder and CEO of OYO Rooms, one of the world's largest hospitality chains. He founded OYO at the age of 19, making him India's youngest self-made billionaire and the world's second-youngest self-made billionaire at the time. He was the first Asian recipient of the prestigious Thiel Fellowship and has appeared as an investor on Shark Tank India Season 3 (2024). As of 2025, his net worth is estimated at approximately $2.1 billion (₹16,000 crore).
Early Life
Ritesh Agarwal was born on 16 November 1993 into a Marwari family in Bissam Cuttack, Odisha, India, and was raised in Titilagarh. His family operated a small shop in Rayagada, giving him an early exposure to business and commerce. From a young age, he displayed an entrepreneurial instinct — at just 13 years old, he began selling SIM cards to support himself and fund his interests.
He attended Sacred Heart School in Rayagada and later St. John's Senior Secondary School. At age 16, he participated in the Asian Science Camp organized by the Tata Institute of Fundamental Research (TIFR) in Mumbai. At 17, he authored his first book — "The Encyclopedia of Indian Engineering Colleges" — which received notable attention from Indian students. In 2011, he moved to Delhi for college but later dropped out to pursue entrepreneurship full-time.
Oravel Stays — The Beginning
In September 2012, Ritesh launched Oravel Stays, an Airbnb-style budget accommodation booking portal, inspired by the challenges he personally faced while travelling across India and struggling to find affordable, standardized accommodation. The company was accepted into Venture Nursery, a Mumbai-based startup accelerator, and received ₹30 lakhs in early-stage funding — his first major institutional backing.
In 2013, Ritesh became the first Asian winner of the Thiel Fellowship — a prestigious program founded by PayPal co-founder Peter Thiel that awards $100,000 to young entrepreneurs under 22 to drop out of school and build their ventures. The fellowship validated his direction and provided critical resources to scale his idea.
OYO Rooms
In May 2013, Ritesh rebranded Oravel Stays as OYO Rooms — an acronym for "On Your Own." The company began by standardizing budget hotels, starting with just five properties in Gurgaon, with an initial investment of ₹82 lakh. OYO's model focused on partnering with small, independently run hotels and upgrading them to a consistent standard of quality, cleanliness, and amenities — something previously unavailable in India's fragmented budget hospitality market.
OYO grew at a rapid pace, attracting major global investors. By September 2018, the company had raised $1 billion in funding, and Ritesh became India's youngest self-made billionaire at age 25. In July 2019, he tripled his own stake by purchasing $2 billion worth of shares, reflecting his confidence in the company's long-term vision. Investors in OYO have included SoftBank, Sequoia Capital, Airbnb, and Lightspeed Ventures.
OYO expanded beyond India to operate in over 800 cities across 80 countries, including the United States, United Kingdom, Malaysia, UAE, and the Nordic countries. In 2024, OYO acquired G6 Hospitality (parent of Motel 6 and Studio 6) in the US for $525 million, significantly strengthening its American footprint. In FY2023-24, OYO reported its first-ever profit after tax of ₹229 crore, following eight consecutive quarters of positive adjusted EBITDA.
Shark Tank India
Ritesh Agarwal appeared as a Shark (investor) on Shark Tank India Season 3 in 2024, becoming the youngest Shark on the show. His participation brought a hospitality and global startup perspective to the panel. He is known for evaluating businesses based on scalability, unit economics, and operational efficiency. He has made 27 investment rounds to date, with notable portfolio companies including Cars24, Unacademy, Magicpin, Zingbus, and First Bud Organics.
Awards and Recognition
Ritesh Agarwal has received widespread recognition for his entrepreneurial journey, including the Thiel Fellowship (first Asian winner, 2013), Forbes Asia 30 Under 30 (2016), Business World Young Entrepreneur Award, World's Second-Youngest Self-Made Billionaire (Forbes, 2020), and Top 10 Youngest Indian Billionaires in Hurun Rich List India (2024).
Personal Life
Ritesh Agarwal married Geetansha Sood, a native of Lucknow, on 7 March 2023. Their relationship began in 2012 when Ritesh was just beginning his entrepreneurial journey. The couple welcomed their first child, a son named Aryan Agarwal, on 7 December 2023. Ritesh currently lives in Delhi with his family.