Tuesday , May 24 2022

A 25-year-old man, the youngest self-made billionaire from a self-driving company he founded with 17



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The value of Austin Russell’s shares of America reached 2.4 billion dollars on Thursday.

American Luminar founder Austin Russell, 25, became this week’s youngest “self-made” billionaire, according to Forbes. His company makes litter scanners, which use lasers to create a three-dimensional image of the road and the surrounding land for autonomous cars.

The Wall Street Journal reported that Luminar’s shares rose about 28% on Thursday to close to $ 23 after its public offering for sale. Thus, the market value of the company was approximately $ 7.8 billion.

This jump in value also increased the fortunes of Russell, who founded Luminar at the age of 17. The combined value of its 104.7 million shares – about a third of all issued – grew to $ 2.4 billion this Thursday.

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