Little Known Facts about Forbes Youngest self-made Billionaire, Austin Russell

Forbes magazine youngest self-made billionaire Austin Russell has revealed the future of self-directed driving. He was speaking to Fox News, where he attributed his success to dropping out of Stanford University.

Russell who doubles as the Founder and CEO of Luminar stated that he quit college, so as to participate in entrepreneur Peter Thiel challenge, in exchange for $100,000 investment. He dropped out of college in 2012, after receiving the funds. By then, he was 17 years old and studying physics at Stanford.

He stated that he wasn’t certain if the academic route was the right one, adding that: “Because if you really want to make a great impact in the world, being stuck in a laboratory is not the right path to do it, You have to be able to commercialize it and make it economically viable.”

Russell explained how his parents were supportive and motivational and that was why he was able to do “technological black magic” in the garage that produced sensors for autonomous driving vehicles. Upon being listed on the stock exchange market in, Luminar stock shot by a magical 30 percent.

He launched an automotive sensor firm dubbed Luminar Technologies, which went public in December 2020. Russell became the world’s youngest self-made billionaire at 25. His company’s major competitors are Aeva and Velodyne, which develops high technology sensors that help autonomous driving vehicles to view their surroundings.

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