The company’s entire executive leadership team has taken a voluntary pay cut of between 25 and 50 percent, effective April 2020. In just five years, he featured in the list of Barclays Hurun India Rich Listfor the year 2018 at the age of 24. The organization relies on a two-pronged approach to mitigate contamination possibilities and improve social isolation and hygiene. I know how life is after that because I have been there." In this week's Drive into the New Year series, OYO’s Ritesh Agarwal says 2021 will be the year of resurgence after a year of resilience. Commenting on the growth, Ritesh Agarwal, CEO of the Founder & Group said, “The current situation around the world is of great concern to each and every one of us. IndiGo Cancels 75 Flights Due To Pilot Shortage, Blames Bad Weather! Ritesh Agarwal's priority list for 2021. Further, founder and group CEO Ritesh Agarwal has foregone his salary for the year. Pritish Raj is a content writer at Next Big Brand. OYO’s Ritesh Agarwal has joined the fight against the coronavirus crisis and has announced that he will forego all of his annual salary to help the government. Required fields are marked *. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Some others concentrate on providing safe refuge to local and international visitors and travelers trapped in towns due to the lockdown. It is common that, salary and asset change over time. OYO has taken a number of steps to accommodate medical workers, aircrew, businesses, visitors, PGs as well as foreign nationals stuck in the nationwide lockdown, in line with the direction of the government. OYO is in communication with various state governments as well as authorities to understand how some of its assets during this critical time can be of use. The entire executive management team of the company has taken a voluntary pay cut beginning at 25 percent, with others opting for an additional unlimited amount and others up to 50 percent helping the company to develop the runway. OYO Rooms currently is operated in many countries and all credit for its growth goes to Ritesh Agarwal … Founder and Group CEO Ritesh Agarwal will forego 100 percent of his annual salary for the rest of the year starting April 2020. 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. By continuing to use this website you are giving consent to cookies being used. OYO has also set up a … Oyo founder Ritesh Agarwal forgoes 2020 salary … It will be effective from April 2020 and it said the whole business stands together to tide over these times. Estimated Net Worth of Ritesh Agarwal is around $1.1 billion. 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"The current situation the world over is … 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. 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. 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 will forgo any pay from April, while the rest of the management team will take pay cuts of between 25% and 50%. OYO Rooms. Some hotels are being listed as partnering with hospitals to set up free, pay-per-use quarantine facilities. OYO Rooms is the main source of his income which has a Net Worth of $400 Million (Approx.). 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. 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. Ritesh Agarwal has forego his 100% annual salary while other OYO Executives take 25%-50% salary cut amid the coronavirus scare. Visit our. I am thankful to my leadership team who, during these difficult times, also took pay cuts and supported the company. Ritesh Agarwal has forego his 100% annual salary while other OYO Executives take 25%-50% salary cut amid the coronavirus scare. OYO founder Ritesh Agarwal announced that he will not take any salary for the rest of the year, while the leadership team at OYO is voluntarily taking a 25% pay cut. The rest of the company’s executive team will also take salary cuts of between 25% and 50%. Ritesh Agarwal. Ritesh Agarwal’s salary and net worth details will be added soon. Find out more about how we use your information in our Privacy Policy and Cookie Policy. 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. In the below table, you will get the latest info about salary and assets. Along with Agarwal, the group’s executive team have taken voluntary pay cuts of up to 50% this year. 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. Highly enthusiastic about brands and startups, he aims to be a travel content creator. He is the co-founder and CEO of OYO Rooms, which is a high valued startup in India. 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. Ritesh Agarwal Net Worth and Salary. In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year. In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year. Learn how your comment data is processed. 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. Ritesh Agarwal is an Indian Businessman and Founder of Oyo Rooms. With its limited resources in this pandemic, OYO is doing everything in its power to help the world from making isolation centers to seeking a safe place for first responders. This site uses Akismet to reduce spam. We also add the controversies in this section. 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 … Oyo said on Thursday that Ritesh Agarwal will not take a salary from April. Do you curious about the net worth of Ritesh Agarwal? What is the main source of income? - Ritesh Agarwal quotes from BrainyQuote.com "For people who earn on an average about RS 15,000 a month and who travel a lot, if the salary is late then the landlord will throw him out. The company is well known as OYO which offering budgeted hotels to its customers. Founder & CEO. Oyo Hotels and Homes said that CEO Ritesh Agarwal has decided to forego 100 per cent of his salary for the rest of the year. Yahoo is part of Verizon Media. 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. Please enter your username or email address to reset your password. Source - https://asia.nikkei.com/Spotlight/Startups-in-Asia/India-s-Oyo-aims-to-disrupt-global-hotel-industry. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Ritesh Agarwal salary is currently Rs 1.5 crores. Your email address will not be published. The rest of the company’s executive team will also take salary cuts of between 25% and 50%. Ritesh Agarwal - OYO Hotels and HomesOYO, in its official statement released earlier this month, … Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego his salary for the rest of the year. Oyo said on Thursday that Ritesh Agarwal will not take a salary from April. 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. Your email address will not be published. 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. 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. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement Oyo Hotels & Homes founder and group CEO Ritesh Agarwal has announced he will forego his salary for the entirety of this year as the company rolls out a number of cost-cutting measures. Ritesh Agarwal Net Worth 2021: Biography: – Ritesh Agarwal Age, Height, Weight, Wife, Family Approach to mitigate contamination possibilities and improve social isolation and hygiene am thankful to my leadership has! Salary is currently Rs 1.5 crores take salary cuts of between 25 and 50 % this year password... 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