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Austin Russell: What we know about the world's youngest self-made billionaire in 2021

Luminar Technologies to be the youngest billionaire in 2021: What we know about Austin Russell

Austin Russell is a name you probably don't know, but its technologies could change the world. The young man is one of the new billionaires on Forbes' list of the richest people in the world and the youngest on the list to have made his own fortune. He is now 26 years old and the owner of Luminar Technologies, a company that develops lidar technology - sensors that make autonomous cars a reality. (Also read: Forbes: These are the 10 richest billionaires in 2021)

Austin Russell, the billionaire genius

Austin Russell was something of a child prodigy, according to a Forbes profile (which lists him as the world's youngest billionaire). He learned the Periodic Table of the Elements at the age of 2 and when he was in sixth grade he managed to turn his Nintendo DS into a cell phone after his parents forbade him to own one. He started writing code at the age of 10 and applied for his first patent at the age of 13. It was a water recycling system that caught water from garden sprinklers to reduce water waste. (Also read: How rich is the Queen anyway?)

As a teenager, the young man began building computers and supercomputers in order to later deal with lasers as well as optical and photonic technologies. At the age of 15 he built a holographic keyboard and applied for the patent at the age of 17. In addition, the young man did not attend high school, but studied at the Beckman Laser Institute at the University of California at Irvine to learn more about these technologies. He later went to Stanford University to study physics but decided to drop out of school after receiving a scholarship from Peter Thiel, one of Silicon Valley's most famous investors, which enabled him to learn Luminar Technologies at age 16 Years to found.

Austin Russell: Billionaire with Luminar Technologies

Luminar Technologies focuses on the manufacture of sensors and other technology for use in autonomous (i.e. self-driving) cars. Currently, Volvo and Toyota are some companies that are already customers of these products that use laser beams towards nearby objects to identify objects near a car. According to Entrepeneur magazine, the young man had already noticed the trend towards using this technology, but was focused on making it cheaper so that it would be accessible to everyone. Russell was responsible for the design and creation of the first systems from the chips. (Also Read: Why We Must Overcome Our Perfectionism For Success)

The young man is also convinced that this technology can save lives, since the use of lasers can also detect people or other cars, thus avoiding any type of collision or accident caused by human error. The aim is for these products to become the basis for self-driving cars in the next few years.

On December 3, 2020, the company went public on the NASDAQ and LAZR stock exchanges. Russell owns 104.7 million shares, which is one-third of the entire company. With a current value of around $ 22 per share, these shares are valued at around $ 2.08 billion. He is the youngest billionaire in the world to have made his own fortune and has replaced Kylie Jenner, whose value has fallen over the past year. His fortune could continue to grow in the years to come as these technologies develop. Whitney Wolfe is the youngest female billionaire in the world.

It is important to mention that Austin Russell is a self-made billionaire because if we look at billionaires "by inheritance", the youngest would be German Kevin David Lehman, 18 years old, who is $ 3.3 billion after he received his Father inherited the 50 percent stake in the drugstore chain dm. Wang Zelong, 24, also inherited more than $ 1.3 billion worth of shares in his father's CNNC Hua Yuan Titanium Dioxide Co.

This article appeared in the original under the titleAustin Russell: el multimillonario más joven del mundo este 2021at GQ México

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