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Only 26 years old, this Elon Musk incarnation costs USD 1.8 billion

 


New billionaire Austin Russell is nicknamed Elon Musk 2.0 because of his intelligence in the field of technology. This man is the youngest person to become a billionaire in US dollars at the age of 26 years. This man from the United States, according to Forbes, is in the range of USD 1.8 billion.

His name became known after Elon Musk called lidar (Light Detection and Ranging) technology 'expensive and unnecessary' but 26-year-old Russell believes otherwise. It even has deals with Volvo, Toyota and Intel to prove it


What are other interesting facts about Austin Russell? Check it out below, as reported by the South China Morning Post.



1. Dropout from Stanford University

At the age of 17, Russell was studying physics at Stanford University when he developed the idea for automotive sensor technology which later became Luminar Technologies' major breakthrough. However, he did not go to college for long. He left in 2012 after receiving a $100,000 scholarship from billionaire technology investor and PayPal co-founder Peter Thiel.


2. Finding self-driving car innovations

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Luminar is a start-up that develops automotive hardware and software lidar (light detection and range) technology that uses lasers to detect and measure distances. This technology could eventually create 3D maps of real-world environments that could be used in driving.


Luminar's lidar sensors are now used by major automotive customers such as Volvo, Toyota and Intel Mobileye. Recently, Luminar was selected for use in Nvidia's Drive Hyperion Autonomous Vehicle Reference Platform which aims to produce the final software by 2024.


3. Become a billionaire

Although he founded Luminar in 2012, it took several years to reach billionaire status. Russell told CNBC that he founded the company to be a long-term sustainable business and power the automaker's autonomous future. He added that his recent success felt 'unreal'.


Russell became the world's youngest self-made billionaire at the age of 25 - a title once claimed, later stripped of Kylie Jenner. According to The Wall Street Journal, Luminar's stock rose nearly 28% on its debut and gives the company an estimated market value of USD 7.8 billion.


4. Expensive mansion

As a rising CEO, it was only natural that he could afford expensive items including mansions. According to Dirt, the young billionaire recently purchased an $83 million mansion in Pacific Palisades, Los Angeles, which is more than 20,000 square feet, with six bedrooms and 18 bathrooms.


Not only that, this LA mansion also features retina scanner access to bedrooms, a 20-seat outdoor cinema, and a car gallery. Plus, Tom Hanks and Rita Wilson are neighbors.

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