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Luminar | What technologies does the world’s youngest billionaire, Austin Russell, develop?

Austin Russell, At just 26 years old, he became the youngest billionaire in the world on the list of Forbes this Tuesday with $ 2.4 billion of net worth.

The young man’s path has been long. In 2012, he received a $ 100,000 scholarship from billionaire investor Peter Thiel, but along the way, he left Stanford to found Luminar Technologies, a company that does not manufacture autonomous cars, but that is an important part of this industry.

Luminar’s success

Russell became a billionaire virtually overnight after his company Luminar Technologies listed on the Nasdaq platform in Times Square in December.

Luminar He was born more than 8 years ago, when Russell was 17 years old.

The company’s sensors have been used to create autonomous cars in companies such as Volvo and Toyota. Technology Luminar it’s based on LIDAR, a process that uses pulses of light to create a three-dimensional map of a car’s environment. Technology allows vehicles Freelancers determine the best course of action and avoid obstacles on the road.

The technology LIDAR —Whose name combines the words light and radar— is not him: he started its development in 1960. However, his company is perfecting it.

Today, the 350 workers of Luminar They operate out of a 50,000-square-foot facility at their Orlando, Florida headquarters, as well as a converted tank repair facility in Palo Alto, California.

The executive is one of four self-made billionaires on the Forbes list who are 20 years old. The other young billionaires include the founders of DoorDash Andy Fang and Stanley Tang, as well as the crypto investor Sam Bankman-Fried. The four billionaires are new additions to the list of Forbes.

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