The Story of a 26-Year-Old Man Has Wealth of US $ 1 Billions, after changing his business to sell SIM Cards -->
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    The Story of a 26-Year-Old Man Has Wealth of US $ 1 Billions, after changing his business to sell SIM Cards

    Saturday, March 7, 2020, March 07, 2020 EDT Last Updated 2020-03-07T14:21:52Z
    A 26-year-old man, Ritesh Agarwal has a net worth of $ 1 billion, or has around 43 thousand hotels. The success achieved by Ritesh is certainly not easy, because he comes from a family with a low economic background.

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    Ritesh Agarwal. Photo: Special

    The founder of OYO Hotels was never born with a silver spoon in his mouth. Ritesh came from a family that runs a small shop in Southern Odisha, India. At the age of 13 he started selling telephone SIM cards.

    In 2011, Ritesh Agarwal moved to New Delhi to continue his studies at a tertiary institution. However, after two years, he decided to quit because he thought he would not succeed academically well.

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    According to GQ India, the thing that drove him to do hotel business and start OYO Hotels was because of the TV remote. Ritesh was never given the opportunity to watch television according to his wishes.

    "Because I can't use the TV remote at my brother's house. They prefer watching soap operas, whereas I want to watch cartoons," Ritesh said.


    One of the first things he did in his career in hospitality was to help develop a small hotel. Ritesh noticed that there was a hotel nearby that was not good.

    He then decided to meet with the owner and offer help by giving advice to the owner about what should be changed. Ritesh also helped upload some photos on the internet and soon the hotel was crowded with new customers.

    In May 2013, Ritesh decided to start his business with a cheap hotel called Oravel Stays. His inspiration was that he was initially frustrated by the lack of hygienic and inexpensive hotels.

    According to Business Insider, Ritesh's path to becoming a billionaire is not without fail. In fact, he failed six times before finally successfully building OYO Rooms.

    "If you don't fail, you will never be strong," said Ritesh.

    OYO was originally a website that updated and sold hotel rooms, but in 2016, Ritesh expanded its business model. He began to change OYO, and now the company has more than 43 thousand hotels in 800 cities globally and has 20 thousand employees.

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