OYO Rooms CEO Ritesh Agarwal Becomes World's 2nd-youngest Self-made Billionaire

India Business

OYO Rooms CEO Ritesh Agarwal became the world's 2nd-youngest self-made dollar billionaire following cosmetics queen and American media personality Kylie Jenner.

Written By Kunal Gaurav | Mumbai | Updated On:
OYO

OYO Rooms CEO Ritesh Agarwal became the world's second-youngest self-made dollar billionaire, following cosmetics queen and American media personality Kylie Jenner. According to the ninth edition of the Hurun Global Rich List 2020, there are 90 dollar billionaires under the age of 40, of which 54 are self-made and 36 inherited.

Agarwal, the 26-year-old CEO, started his business career at 17 years of age and currently holds a net worth of $1.1 billion (approximately Rs 7.87 thousand crores). Agarwal was also present at the CEO Round Table in New Delhi where US President Donald Trump told the young entrepreneur that he knows about OYO rooms and it is “just a small company”.

“In the last eight months, every day, we’ve opened one hotel in the United States. We now manage over 330 hotels. We invested over $300 million dollars in the US,” Agarwal told President Trump during the conference.

Read: Howdy Modi: OYO Founder Ritesh Agarwal Hails 'Electric Atmosphere'

Mukesh Ambani in top 10 richest

Reliance Industries Ltd (RIL) chairman Mukesh Ambani topped the list of Indian dollar billionaires with a net worth of $67 billion. According to the report, Indian business magnate Mukesh Ambani minted Rs 7 crore every hour while India added 34 new billionaires with a total tally of 138 in the year 2019.

Amazon CEO Jeff Bezos maintained his position at the top even after a decline in the net worth mainly due to his divorce settlement with ex-wife MacKenzie. Bezos recently bought the Warner Estate in Beverly Hills for a whopping $165 million from the 76-year-old media mogul David Geffen.

Read: OYO Raising $1.5 Billion In The Latest Round Of Funding

Bezos is followed by the chief executive of LMVH Bernard Arnault and Microsoft corporations Bill Gates. The other billionaires in the top 10 list include Facebook CEO Mark Zuckerberg, Warren Buffett, Amancio Ortega, and Steve Ballmer among others.

China topped the chart with 799 dollar billionaires while the United States is a distant second with 626 dollar billionaires. Interestingly, China, which prefers to call itself a “communist” nation, has more dollar billionaires than India and the US combined. The report said that India added three billionaires every month while China added three billionaires every week.

Read: Mukesh Ambani 9th Richest In World, Makes Rs 7 Crore Every Hour

Read: Indian Royal Families: Here Are The Top 5 Richest Dynasties That Are Still Thriving

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