More than two years ago, Austin Russell became the world's youngest self-made billionaire when his company went for IPO in December 2020 when he was aged 25. And now, the 28-year-old billionaire, who is the Chairman and CEO of automotive technology company Luminar Technologies, has become Forbes' owner as he has acquired an 82 per cent stake in Forbes Global Media Holdings. Austin Russell Buys 82% Stake In ForbesbloombergAs far as the deal is concerned, Hong Kong-based Integrated Whale Media Investments will retain a minority stake in Forbes, whereas the Forbes family will not, though Steve Forbes will remain involved, as per a Bloomberg report. “This is an important milestone in Forbes’ history and an achievement that everyone on the Forbes team should be proud of," said Forbes CEO From Mike Federle. Early Years Of Billionaire Austin RussellluminarCollege dropout Austin Russell founded and runs automotive sensor firm Luminar Technologies, which went public in a SPAC merger in Dec. 2020.

Source: Forbes May 15, 2023 12:01 UTC