Austin Russell, the founder of Luminar Technologies, bought the majority of stakes in Forbes. Austin Russell Takes Majority Stake in Forbes, Valuing the Company at $800 MillionThe 28-year-old founder acquired 82% of Forbes Global Media Holdings. It’s another accomplishment for Rusell after he became the world’s youngest billionaire in 2021. Forbes family ownership to a definitive closeShortly after Luminar went public, Forbes was also planning to do the same through a SPAC merger. To note, the Forbes family decided to sell the majority of their shares (95%) to a company based in Hong Kong.

Source: Forbes May 15, 2023 01:28 UTC