- Austin Russell is the youngest self-made billionaire on Forbes’ 2021 World Billionaire list.
- A 26-year-old works at a company that provides technology for self-driving cars.
- Russell replaces Kylie Jenner, who was removed in 2020.
- You can find more stories on our Business Insider page.
Austin Russell, 26, is the youngest self-made billionaire on Forbes’ annual world billionaires list, released Tuesday.
Russell became an overnight billionaire in December when his company, Luminar Technologies, was listed on Nasdaq via
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Russell received a $ 100,000 grant from billionaire investor Peter Thiel in 2012 and left Stanford to meet Luminar Technologies, which makes sensors for autonomous vehicles.
The company’s sensors are used to create self-driving cars at companies such as Volvo and Toyota.Luminar’s technology relies on Lidar, which uses pulses of light to create a 3D map of the car’s surroundings, enabling optimal routing. And avoid obstacles
In 2019, Tesla CEO Elon Musk called the technology “doomed” instead of Lidar – popular with auto companies including Alphabet’s Waymo – Tesla used an external camera for its “Full Self-Driving” software.
Russell replaced Kylie Jenner on the list after Forbes removed her last May, saying her net worth was overvalued in the documents she provided.
“What did I wake up to,” she wrote in a tweet responding to Forbes’ decision. “I think this is a reputable website .. All I can see are inaccurate texts and unprovable assumptions. Haha. I never asked for any titles or tried to lie for the duration of there.”
Jenner featured the cover of Forbes in 2018 as one of the richest self-made women in the United States. That gave rise to a backlash as some people question whether she really was. “Build yourself” because of the wealth of the family?
Russell is one of four self-made billionaires on Forbes’ 2021 list that is in their 20s.Others are the founders of DoorDash, Andy Fang and Stanley Tang and Sam Bankman-Fried. Crypto investor All four are new additions to the list.
This year’s list has made a number of headway as COVID-19 has rocked the economy. Former President Donald Trump drops 298 places in Forbes’ rating. Bloomberg estimates Trump’s net worth has fallen by $ 700 million during his presidency.
The youngest billionaire on Forbes’ list is Kevin David Lehmann, 18, the heir of the $ 3.3 billion German drugstore.
Read the full list on the Forbes website.