The founder of Luminar Technologies — a potential major player in self-driving cars — is snatching the crown Kylie Jenner once wore … now that he’s the world’s youngest self-made billionaire.
Austin Russell‘s only 25, but he’s worth a whopping $2.4 BILLION after his company’s stock market debut Thursday … which saw its share price soar to $22.98, giving the company a market value of about $7.8 billion.
Russell owns about a third of that, so do the math … and yeah, the dude’s balling. Forbes dubbed him the world’s youngest self-made billionaire, and his wealth is expected to climb even more Friday along with Luminar’s stock price.
Of course, Kylie’s “self-made” status was also called into question, but that doesn’t seem to be the case for Russell … who dropped out of college in 2012 to start Luminar.
AR’s company’s pretty cool … it makes a device called lidar scanners that use lasers to give autonomous cars a 3-D view of the road and surroundings. The company’s already struck deals with Volvo, Daimler Truck and Intel’s autonomous vehicle unit … and is projected to start raking in billions annually.
For now, though … it’s given a 25-year-old dropout serious bragging rights.