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

Nikhil Agarwal
Updated27 Feb 2020, 12:48 PM IST
Ritesh Agarwal-founded Oyo saw consolidated revenue jump to $951 million in FY19 (Photo: Bloomberg)
Ritesh Agarwal-founded Oyo saw consolidated revenue jump to $951 million in FY19 (Photo: Bloomberg)

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.

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).

The young and rich list has 90 billionaires aged 40 or under, up 5 from last year. Out of them, 54 billionaires are self-made while 36 inherited wealth. The list is dominated by China and USA who have 25 young billionaires each.

India has a total of 137 billionaires in 2020, up by 33 from last year. With a wealth of $67 billion, Reliance Industries chairman Mukesh Ambani is the richest man in India and the ninth richest in the world.

Mumbai has the largest number of billionaires (50) in India while Bengaluru has 17, Ahmedabad 12 and Hyderabad 7.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.MoreLess
First Published:27 Feb 2020, 12:48 PM IST
HomeCompaniesPeopleOyo’s Ritesh Agarwal is the world’s second youngest self-made billionaire

Most Active Stocks

Indian Oil Corporation

166.90
03:58 PM | 12 JUL 2024
-7.6 (-4.36%)

Tata Steel

168.70
03:58 PM | 12 JUL 2024
-0.3 (-0.18%)

Bharat Electronics

333.30
03:59 PM | 12 JUL 2024
-2.25 (-0.67%)

Wipro

560.05
03:56 PM | 12 JUL 2024
25.7 (4.81%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

KPIT Technologies

1,864.00
03:57 PM | 12 JUL 2024
154.25 (9.02%)

Inox Wind

171.90
03:59 PM | 12 JUL 2024
13.85 (8.76%)

Zensar Technologies

768.20
03:29 PM | 12 JUL 2024
50.45 (7.03%)

Coforge

5,950.05
03:29 PM | 12 JUL 2024
386.65 (6.95%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,263.00176.00
    Chennai
    74,699.00757.00
    Delhi
    74,989.00975.00
    Kolkata
    74,190.00-187.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L-0.10
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsCibilPremiumMint Shorts