At OYO, we are committed to the battle against COVID-19 and will seek to do all in our power to reach out and support people while ensuring the company’s long-term sustainability, and our ability to continue delivering on our goal of providing better living spaces for everyone, at the right prices, globally. Highly enthusiastic about brands and startups, he aims to be a travel content creator. OYO has also recently partnered with Apollo Hospitals to provide sanitized beds and facilities in some exclusive COVID-19 hotels located near Apollo Hospitals within its network. Despite the current market scenario, which is unparalleled for our industry internationally, for the remainder of the year, I forego 100 percent of my income. Ritesh Agarwal Net Worth and Salary. This website uses cookies. Visit our. I am thankful to my leadership team who, during these difficult times, also took pay cuts and supported the company. What is the main source of income? Ritesh Agarwal, CEO of the Founder & Company, OYO Hotels & Homes, has agreed for the rest of the year to forego 100 percent of his salary. The collaboration will be enabled for self-quarantine and isolation purposes in 6 cities, namely Mumbai, Delhi, Hyderabad, Chennai, Bengaluru, and Kolkata, for suspected COVID-19 patients who need medical observation and supervision. IndiGo Cancels 75 Flights Due To Pilot Shortage, Blames Bad Weather! The rest of the company’s executive team will also take salary cuts of between 25% and 50%. Oyo said on Thursday that Ritesh Agarwal will not take a salary from April. Ritesh Agarwal has forego his 100% annual salary while other OYO Executives take 25%-50% salary cut amid the coronavirus scare. The founder and chief executive of Indian hotel booking startup Oyo is to forgo the remainder of his 2020 salary in response to the coronavirus crisis. Management of the firm has also taken some more steps to ensure continuity of business and is committed to the well-being of its OYOpreneurs. Pritish Raj is a content writer at Next Big Brand. Ritesh Agarwal salary is currently Rs 1.5 crores. OYO Rooms currently is operated in many countries and all credit for its growth goes to Ritesh Agarwal … Gurugram-headquartered hospitality company OYO on Thursday said its founder and Group CEO Ritesh Agarwal will forego his compensation for the rest of the year and its executive management team will take voluntary pay cuts as the hospitality industry reels under the coronavirus pandemic. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. The company’s entire executive leadership team has taken a voluntary pay cut of between 25 and 50 percent, effective April 2020. The organization relies on a two-pronged approach to mitigate contamination possibilities and improve social isolation and hygiene. Oyo said on Thursday that Ritesh Agarwal will not take a salary from April. By continuing to use this website you are giving consent to cookies being used. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Estimated Net Worth of Ritesh Agarwal is around $1.1 billion. He is the co-founder and CEO of OYO Rooms, which is a high valued startup in India. "The current situation the world over is … Your email address will not be published. He previously used to take a menial salary to only cover his personal expenses but after the Series C funding received by OYO Rooms, his salary was increased to match that of other start up founders in India. Career & Education – Company, University, & College The founder and current CEO of OYO Rooms, Ritesh Agarwal has been an entrepreneur from the beginning and he always aspired to be one since his childhood days. The company has ensured that all workers in India, including many post-lockdown hotels, can continue to receive their wages and benefits during the unprecedented 21-day lockdown period without interruption. Ritesh Agarwal's priority list for 2021. In just five years, he featured in the list of Barclays Hurun India Rich Listfor the year 2018 at the age of 24. Founder and Group CEO Ritesh Agarwal will forego 100 percent of his annual salary for the rest of the year starting April 2020. Along with Agarwal, the group’s executive team have taken voluntary pay cuts of up to 50% this year. I know how life is after that because I have been there." It will be effective from April 2020 and it said the whole business stands together to tide over these times. Source - https://asia.nikkei.com/Spotlight/Startups-in-Asia/India-s-Oyo-aims-to-disrupt-global-hotel-industry. OYO Rooms is the main source of his income which has a Net Worth of $400 Million (Approx.). We also add the controversies in this section. In this difficult and unprecedented period, Ritesh Agarwal, the Founder and CEO of the OYO Group, has decided to give up 100% of his salary for the rest of the year. Do you curious about the net worth of Ritesh Agarwal? NEW DELHI: Oyo Hotels and Homes on Thursday said its founder and group CEO Ritesh Agarwal will forego his salary for the rest of the year and its executive leadership team will take voluntary pay cuts as the hospitality industry reels under the Covid-19 pandemic. In the below table, you will get the latest info about salary and assets. Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego his salary for the rest of the year. 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