Austin Russell, a 28-year-old automotive technology billionaire, acquired an 82 percent stake in Forbes Global Media Holdings, parent of the well-known Forbes business magazine. The seller, Hong Kong-based Integrated Whale Media Investments will retain a minority stake. Russell is the CEO of Luminar Technologies Inc., which provides autonomous driving technology to the automotive industry. Forbes plans to appoint a new board consisting of American media, technology and artificial intelligence experts. Integrated Whale will keep one board seat.

Source: Forbes May 13, 2023 11:16 UTC