![]() Luminar’s lidar sensors are now being used by major automotive customers such as Volvo, Toyota and Intel’s Mobileye. Russell’s Luminar is a start-up that develops automotive lidar (light detection and ranging) hardware and software technology that “uses lasers to detect and measure distance and ultimately create a 3D map of the real-world environment that can be used in self-driving”, as per CNBC. He invented a self-driving car technology ![]() Russell’s company Luminar is developing software and hardware for autonomous driving. Talking about why he dropped out, Russell told Forbes: “When you have this fundamental drive to be able to build, to be able to create, it’s very challenging to do that in an academic environment.” Russell himself was born into a well-to-do family in Newport Beach, with his father Michael Russell working in commercial estates and his mother, Shannon Cleye, a former model and actress on The Young and The Restless, real estate portal Dirt reports. He didn’t stay long though, dropping out in 2012 after receiving a US$100,000 fellowship from billionaire tech investor and PayPal co-founder Peter Thiel. He’s a university dropout (!)Īt the age of 17, Russell was studying physics at Stanford University when he developed the idea of an automotive sensor technology which later became Luminar Technologies’ key breakthrough. Here are a few things to know about the tech wizard.Īustin Russell, at 26, the youngest self-made billionaire. The world’s youngest self-made billionaire, recently featured on Forbes’ prestigious “40 Under 40” list for 2021, is reaping the benefits and living large. Meet Austin Russell, the 26-year-old Californian native who recently became a billionaire – current net worth, US$1.7 billion to be exact – after his company Luminar Technologies went public via a special purpose acquisition company (SPAC) deal in December 2020. Move over, outspoken multi-billionaire Elon Musk, there’s a new tech mogul in town.
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