SPAC Deal Will Make 25-Year-Old Luminar Founder a Billionaire
- Austin Russell’s stake in tech startup is worth $1.1 billion
- Stanford dropout among youngest self-made billionaires
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Austin Russell, the 25-year-old founder and chief executive officer of Luminar Technologies Inc., is set to become one of the youngest self-made billionaires.
Russell will hold 104.7 million shares of Luminar after it goes public, a roughly 35% stake that’s worth about $1.1 billion at the company’s current valuation, according to a proxy statement filed Monday.