{"id":126998,"date":"2020-12-04T17:10:20","date_gmt":"2020-12-04T14:10:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/luminar-founder-austin-russell-25-is-billionaire-after-ipo\/"},"modified":"2020-12-04T17:10:20","modified_gmt":"2020-12-04T14:10:20","slug":"luminar-founder-austin-russell-25-is-billionaire-after-ipo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/luminar-founder-austin-russell-25-is-billionaire-after-ipo\/","title":{"rendered":"#Luminar founder Austin Russell, 25, is billionaire after IPO"},"content":{"rendered":"

“#Luminar founder Austin Russell, 25, is billionaire after IPO<\/strong>”<\/p>\n

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The founder of a startup that helps cars drive themselves just became a billionaire \u2014 and he\u2019s barely old enough to rent a car on his own.<\/p>\n

Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company\u2019s stock market debut this week. The Florida-based firm \u2014 which he founded when he was just 17 \u2014 makes so-called lidar scanners that use lasers to give autonomous cars a three-dimensional view of the road and what\u2019s around them.<\/p>\n

Luminar\u2019s share price surged nearly 28 percent on its Thursday debut to close at $22.98, giving the company a market value of about $7.8 billion, the Wall Street Journal reported<\/a>.<\/p>\n

That made Russell\u2019s stake of 104.7 million shares \u2014 about a third of the company\u2019s outstanding stock \u2014 worth $2.4 billion, according to Forbes<\/a>, which called him the world\u2019s youngest self-made billionaire. His wealth surged even higher on Friday with Luminar\u2019s shares climbing nearly 37 percent to $31.40, leaving Russell with a paper net worth of nearly $3.3 billion heading into the weekend.<\/p>\n

\u201cIt is totally surreal and it totally makes sense and it is hard to explain the dichotomy of it, but this has always been the goal,\u201d Russell told CNBC<\/a> on Thursday. \u201cWe set up the company to be a long-term sustainable business and power the future of autonomy for all of these automakers.\u201d<\/p>\n

Russell is one of the first billionaires to emerge from the self-driving vehicle market. He left Stanford University as a teenager in 2012 to start Luminar with help from a fellowship sponsored by Peter Thiel, the Silicon Valley tycoon who\u2019s also invested in Facebook<\/a> and Palantir.<\/p>\n

Under Russell\u2019s leadership, Luminar has inked a deal<\/a> to supply lidar units for Volvo vehicles and secured partnerships with Daimler Truck and Mobileye, Intel\u2019s autonomous vehicle unit.<\/p>\n

The company has projected long-term annual revenues in the billions of dollars, but it posted a nearly $95 million net loss last year on just about $13 million in revenue. Its financial growth will reportedly depend on turning its research partnerships into production deals.<\/p>\n

\u201cNow it\u2019s all about scale, execution and seeing it though,\u201d Russell told Reuters.<\/p>\n

\"Austin
Austin Russell<\/figcaption>
Luminar<\/span><\/figcaption><\/figure>\n

Luminar is the latest buzzy company to go public by merging with a special purpose acquisition company, or SPAC, a publicly traded firm that\u2019s set up solely to combine with another firm that takes over its stock listing. Luminar was bought in August by Gores Metropoulos Inc., backed by billionaires Alec Gores and Dean Metropoulos.<\/p>\n

With Post wires<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Luminar founder Austin Russell, 25, is billionaire after IPO” The founder of a startup that helps cars drive themselves just became a billionaire \u2014 and he\u2019s barely old enough to rent a car on his own. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company\u2019s stock market debut this week. The…<\/p>\n","protected":false},"author":1,"featured_media":126999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/12\/Austin_Russell_Luminar.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[82641,70971,5007,73425,70359],"class_list":["post-126998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-4-20","tag-billionaires","tag-ipo","tag-self-driving-vehicles","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/126998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=126998"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/126998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/126999"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=126998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=126998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=126998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}