Inspirational Stories: Wealth is not a guarantee of education. However, even the richest people who succeeded without a formal higher education understand the value of attending college. Ritesh Agarwal, 29, is one of these billionaires and one of the faces of India Inc.’s success. The creator of the massive hotel business Oyo rose swiftly from being a college dropout to being the second-youngest self-made millionaire in the world. But according to Agarwal, the answer to the question of whether he misses higher education is a “Resounding YES.”
Small-Town Beginnings and Entrepreneurial Pursuits
Ritesh, who was up in a small town in Odisha, started his first business at a young age. In the Rayagada area of Odisha’s Bissam, his father had a modest store. After finishing school, he left home and first travelled to Kota to pursue an IIT degree before moving to Delhi. He stopped attending college in the nation’s capital and turned his full attention to starting a business. Ritesh made a living selling SIM cards during his difficult days.
Ritesh Agarwal’s Journey from Oravel Stays to OYO Phenomenon
Oyo was established in 2021 as Oravel Stays, a website for booking inexpensive hotels. His acceptance into the Thiel Fellowship programme of billionaire software entrepreneur Peter Thiel in 2012 was a significant turning point for him. In 2013, Agarwal received a grant of $100,000 that enabled him to launch OYO Rooms. Despite having achieved great success in business without receiving a formal degree, Agarwal has previously acknowledged that he misses attending college. He nevertheless believes that the Thiel fellowship made up for the difference and taught him the skills he needed to succeed as an entrepreneur. From town to town, Agarwal’s business enterprise flourished rapidly, and in just 7 years, he was the second-youngest self-made millionaire in the history of the globe. Ritesh Agarwal had a staggering net worth of Rs 6,300 crore in 2022.
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