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As we know, in today’s world, the youth is struggling to find a living. There is such a competition among people that you have to stand out to live. Today, we are going to discuss about such a person who stood out of everyone, against all odds, and became the world’s youngest billionaire at a mere age of 26. We are talking about none other than Ritesh Agarwal, the founder of OYO.
You must at least once would have heard of OYO Rooms, right? Ritesh Agarwal is the founder and CEO of OYO Rooms. OYO has become the world’s second-largest hotel chain. It was not easy for him to achieve what he has achieved. His story is inspirational and can motivate a working professional in many ways. Therefore, we here, at careerguide.com, are going to discuss about Ritesh Agarwal and how he started OYO with his life journey with his principles and ideologies.
Born in 1993, Ritesh was raised and educated in a poor family in the small city of Rayagada. For most of his life, he was poor. He comes from an area where the average income of people working is very less around 100 rupees a day. That is so low yet people survive there. Now Ritesh being 26, he has struggled for 18 years.
He went to no university in his life. People around him always told him that if he didn’t go to the university, he would never succeed in his life and would not be able to achieve anything without seeking help from his parents. But he never listened to those and now he is the youngest billionaire. At a certain point in his life, he was kicked out of his house by his parents. He had to live outside and he only has 50 rupees in his bank account.
He claimed in one of his interviews that he felt that that period of time was the toughest in his entire life. During that time, the best thing happened in his life. He always had an entrepreneur mindset in him and this time he had the opportunity to use it. Then, He saw a small hotel nearby. He observed that the hotel was mostly empty. Owner was not making much money. Then he decided to take the biggest risk of his life.
He went to the hotel and claimed to meet the owner. With owner, he discussed the condition of the hotel and made him a big promise. He promised to make the hotel better and said that after he would be done, a lot of people will come to the hotel than they do now. He started his work on the hotel. Then he changed the light bulbs of the hotel, installed better beds, provided complimentary water and hanging picture frames in the rooms. He also introduced the concept of room service in the hotel and provided room service in the hotel.
Then he clicked multiple good-looking photos of the hotel and uploaded that on the internet. He also changed the name of the hotel to OYO Hotel. This was a big step and involved many risks but this idea of him worked and actually blew up. The hotel went from being empty to full. It was a big step and it made Ritesh realize that if he can change one hotel, he can change hundreds of them. This gave him hope and motivation. He knew that the first one is the hardest but after that it would not be that difficult. After that, he was unstoppable.
At the age of 20, he raised enough money from investors to start working his dream. At 21 he hired 50 people to work with him. In one year, he had 500 hotels under the name OYO. And by the age of 24 he had raised 1 billion dollars under OYO. Now, at age 26, he has more than 45000 hotels under OYO all over the world. His business is boosting at a very high rate and has employed over 17000 people with OYO.
He had to struggle a lot to achieve all this. At a point of time, He had to beg people for a meeting. He had to approach many people and got rejected many times too. But he had self-motivation and he just went forward. It is evident from his story that it doesn’t matter what your age, nationality, status, gender etc is. If you work hard and doesn’t let negative energy affect you, nothing can stop you. He always states that he never cared about money. But he only cared about his work. He always had real problem-solving skills in him and when he got the chance to show them, he grabbed that opportunity and made it out for him. His story is truly inspirational. Follow him
So, above was the story of world’s youngest billionaire. I think we all can learn from him that we can achieve anything with sheer hard-work and motivation. Hope that it would have inspired you in any way. Best of Luck!!!
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