Home / Business / The CEO replaces Kylie Jenner as the youngest self-made billionaire on the Forbes list.

The CEO replaces Kylie Jenner as the youngest self-made billionaire on the Forbes list.

  • 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

Merger Forbes estimates Russell̵

7;s net worth at $ 2.4 billion.

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.

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