- Ritesh Agarwal, CEO of Oyo Hotels has been named the second youngest billionaire in the country. At the age of 24, his income was listed in the Hurun Global Rich List 2020 at $1.1 billion
Ritesh Agarwal, CEO of Oyo Hotels has been named the second youngest billionaire in the country. At the age of 24, his income was listed in the Hurun Global Rich List 2020 at $1.1 billion (about 7,800 crores). Agarwal comes second only after Kylie Jenner, a cosmetics queen, who at the age of 22 also raised $1.1 billion.
Launched in 2013, SoftBank-backed Oyo Hotels has already become India’s largest hotel chain and its valuation has risen to $10bn. As the company spreads to the US and Europe after becoming China’s second-largest chain, Oyo has chalked out ambitious plans to become the largest hotel chain in the world by 2023.
College dropout Ritesh Agarwal is also the richest self-made Indian under the age of 40. Also among India’s richest young self-made billionaires are Zerodha leaders Nithin Kamath and Nikhil Kamath, both in their 30s. We are followed by the co-founders of Flipkart, Sachin Bansal and Binny Bansal ($1 billion each), and the Raveendran family of Byjus ($1.4 billion).
The list of wealthy and young people has 90 billionaires aged 40 or under, up 5 from last year. Of these, 54 billionaires are self-made, and 36 have inherited wealth. Chinese and US dominate the list, with 25 young billionaires each.
India has 137 billionaires as a minimum in 2020, up 33 from last year. Reliance Industries chairman Mukesh Ambani has a fortune of $67 billion and is India’s richest man and the ninth richest man in the world.
Mumbai has the largest number of billionaires (50) in India whereas Bengaluru has 17, 12 and 7.
Other rising billionaires on the list are:-
Gautam Adani: After demerger of his renewable generation and city gas distribution businesses, Mr. Adani’s wealth rose to $17 billion.
NR Narayana Murthy: Infosys co-founder has a wealth of around $2,3 billion. His son-in-law Rishi Sunak was appointed to become UK Chancellor of the Exchequer – the most powerful person in the British government after the PM himself.
Sunil Mittal & family witnessed his wealth reach up to $3.5 billion. Though adversely disrupted by Reliance JIO, Sunil Mittal is still India’s one of the billionaires.
Radhakishan Damani: Owner of D’Mart, his wealth increased 80% to $10.6 billion in India’s 2nd richest person after Mukesh Ambani.
Uday Kotak: The man behind Kotak Bank is in the Top 100 list with $15 billion wealth.
Jeff Bezos, Bernard Arnault & Bill Gates take the top 3 spots on the list.