![]() An optics prodigy, Russell developed the idea for Luminar when he was just 17 and studying physics at Stanford University.Īustin had dropped out of college in 2012 after receiving a $100,000 Thiel Fellowship, a program funded by billionaire Peter Thiel to nurture entrepreneurs. ![]() Early Years Of Billionaire Austin RussellĬollege dropout Austin Russell founded and runs automotive sensor firm Luminar Technologies, which went public in a SPAC merger in Dec. Russell will not be involved in day-to-day operations at Forbes, founded in 1917 by BC Forbes, and the publication plans to appoint a new board with US media, technology and artificial intelligence (AI) experts. Integrated Whale will keep one board seat. It is only fitting that now through this transaction, a true innovator and visionary, Austin Russell, will be the new steward for the brand.”įorbes plans to appoint a new board consisting of American media, technology and artificial intelligence experts. "Over 105 years, innovation has been part of Forbes’ DNA and has kept us at the forefront of our industry. “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. Russell plans to serve as a visionary for the Forbes brand and won't be involved in day-to-day operations, according to the statement. More About Billionaire's Company LuminarĪs 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.įorbes family had already sold 95 per cent of the company to Hong Kong-based investor group Integrated Whale Media Investments in 2014. ![]()
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