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The logo of Forbes magazine is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin/File Photo Acquire Licensing RightsNov 21 (Reuters) - Forbes' parent company has called off its acquisition by Luminar Technologies (LAZR.O) CEO Austin Russell, as the billionaire could not come up with the financing, an internal Forbes memo seen by Reuters on Tuesday showed. Forbes was valued at $475 million in 2014 when Integrated Whale Media bought a majority stake in the company from the Forbes family and investment group Elevation Partners. Chinese conglomerate HNA Group made an unsuccessful bid to acquire a majority stake in Forbes in 2017, Reuters reported at the time. Forbes, one of the oldest U.S. media outlets, publishes its eponymous flagship magazine, which reaches 5 million readers.

Persons: Sergei Karpukhin, Forbes, Austin Russell, Mike Federle, Dawn Chmielewski, Helen Coster, Akash Sriram, Maju Samuel, Richard Chang Organizations: Forbes, St ., Economic, REUTERS, Luminar Technologies, Reuters, Forbes Media, The, Integrated Whale Media, Partners, HNA Group, Thomson Locations: St, St . Petersburg, Russia, Russell's, U.S, Los Angeles, New York, Bengaluru

☆ Trump is furious at Forbes after the publication dropped him from its 400 wealthiest Americans list
▼ + stars: | 2023-10-09 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Trump is angry that Forbes kicked him off of its list of wealthiest Americans. Forbes says Trump just isn't worth enough money, especially because his social media play fizzled. AdvertisementAdvertisementDonald Trump on Monday lashed out at Forbes after the financial publication recently dropped the former president from its list of the 400 wealthiest Americans that includes the likes of Elon Musk, Jeff Bezos, and Warren Buffett. One of the main reasons was that Truth Social, the very social media platform where Trump lashed out at Forbes, has lost significant value. A spokesperson for Forbes pointed Insider to the publication's own story, which included a statement that defended Forbes' view of Trump's net worth.

Persons: Trump, Forbes, —, Donald Trump, Elon Musk, Jeff Bezos, Warren Buffett, Stormy Daniels, Rosie O'Donnell, Crooked Joe, " Forbes, Dan Alexander, Letitia James, Austin Russell Organizations: Forbes, Service, Monday, Trump, Republicans, New York, New, Kong, Media Investments, Whale Media Investments, China Investment Corp, China Morning Post, New York Times, Washington, Communist Party, Trump Organization Locations: China, Hong

☆ Austin Russell Doesn’t Want Self-Driving Cars to Replace Humans
▼ + stars: | 2023-09-04 | by ( Lane Florsheim | Photography Pat Martin For Wsj. Magazine | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/style/austin-russell-luminar-technologies-ceo-billionaire-548f4959

Persons: Dow Jones, russell, 548f4959 Locations: austin

☆ Automakers are finally embracing lidar sensors. A few startups look like market-share winners
▼ + stars: | 2023-08-18 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +6 min

In this article INVZLAZROUSTINVZLAZROUST Follow your favorite stocks CREATE FREE ACCOUNTA Hesai lidar sensor on top of a vehicle in Shenzhen, China, July 10, 2022. Jade Gao | AFP | Getty ImagesFor investors in lidar startups, this has been a long time coming. After years of talk — and a SPAC boom in the sensor sector — automakers have finally started incorporating lidar units into their vehicles. Lidar, short for light detection and ranging, is a sensor technology that uses invisible lasers to create a detailed 3D map of the sensor's surroundings. Playing into investors' intense interest in self-driving technology, many lidar startups went public via mergers with special purpose acquisition companies, or SPACs, over the last few years.

Persons: LAZR, INVZ LAZR, Jade Gao, They're, Luminar, —, Omer Keilaf, Keilaf, Innoviz, Austin Russell, Russell, we'll, Tom Fennimore Organizations: AFP, Getty, BMW, Volkswagen, Refinitiv, Volvo, Polestar, Benz, Luminar Technologies, Bloomberg Locations: Shenzhen, China, Germany, U.S, SPACs, Orlando , Florida

☆ 28-year-old self-made billionaire started his self-driving car company in his parents' garage—now he's worth $1.6 billion
▼ + stars: | 2023-07-24 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

When Austin Russell was a 17-year-old high school student, he founded Luminar Technologies, which makes laser sensors that can help self-driving cars detect nearby objects. Now 28, Russell is the world's youngest self-made billionaire, according to Forbes, as Luminar competes with major companies like Tesla and Alphabet's Waymo. But self-driving cars aren't exactly commonplace on American roads, meaning Russell and Luminar have a lot of work ahead of them, despite their lofty valuations. How it differs from Tesla's approachElon Musk's Tesla also seeks to popularize self-driving cars, and Musk's approach to the technology is entirely different. Lidar could potentially change that, Russell says: Cameras can be helpful "for certain use cases," but lidar is "a huge step forward."

Persons: Austin Russell, Russell, Waymo, —, Luminar, Elon Musk's Tesla, Mario Herger, Herger, Tesla Organizations: Luminar Technologies, CNBC, Forbes, Benz, Volvo, Stanford University, Thiel, Washington Post Locations: Orlando , Florida, U.S

☆ The world's youngest self-made billionaire 'absolutely' recommends dropping out of college to make money instead—here’s why
▼ + stars: | 2023-06-30 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

That's according to Austin Russell, the world's youngest self-made billionaire, who dropped out of Stanford University in 2012 to start his company, Luminar Technologies, after receiving a $100,000 grant from the Peter Thiel Fellowship. CNBC Make It asked Russell, 28, if he'd recommend other student entrepreneurs to drop out. "It's just sort of the traditional approach around what you do and what you're supposed to do." What's more, he says he would have still left Stanford even if he hadn't received funding. "If you're wondering if I would have dropped out [without the grant], yeah.

Persons: Austin Russell, Peter Thiel, Russell, he'd, hadn't Organizations: Stanford University, Luminar Technologies, Peter Thiel Fellowship, CNBC, Stanford

☆ World's youngest self-made billionaire: Success comes from taking these 2 common traits 'to the extreme'
▼ + stars: | 2023-06-23 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

It may be hard to believe that Austin Russell, the world's youngest self-made billionaire, has anything in common with others his age — but he insists that he does. The company, which Russell founded 11 years ago as a teenager, develops hardware and software meant to power self-driving cars. But rather than focusing on technological expertise or business acumen, Russell credits his journey so far to two traits common among younger generations: energy and passion. "People in their 20s have a lot of great energy," Russell tells CNBC Make It. Building such a company takes more than just passion and energy, Russell admits.

Persons: Austin Russell, Russell, Thiel, Gen Xers, they're, Forbes, —, Warren Buffett Organizations: Technologies, Thiel Fellowship, Stanford University, CNBC, Benz, Volvo Locations: Orlando , Florida, Luminar

☆ Lidar maker Luminar announces 'multibillion dollar' expansion of its deal with Mercedes-Benz
▼ + stars: | 2023-02-22 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Lidar maker Luminar said Wednesday that Mercedes-Benz will incorporate its sensors and software in a "broad range" of vehicles starting mid-decade, in a significant expansion of an ongoing partnership between the two companies. Under the expanded deal, Mercedes-Benz will incorporate the next version of Luminar's Iris lidar into an upcoming partially automated driving system that will be made available on many future Mercedes models. The deal builds on one announced by the two companies in January 2022, in which Mercedes-Benz said it would incorporate Luminar lidar in upcoming high-end models. Luminar didn't disclose the expected production volumes, but the company did describe it as a "multibillion dollar" expansion of the earlier deal, and a Luminar spokesperson told CNBC that this new deal is "more than an order of magnitude bigger" than last year's deal with Mercedes-Benz. Luminar will unveil the next-generation version of its Iris lidar system when it reports its fourth-quarter and full-year results on Tuesday.

☆ Luminar says it has begun production of its automotive lidar units ahead of schedule
▼ + stars: | 2022-11-02 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Automotive sensor company Luminar said it has begun production of its Iris lidar units for an automaker client, a major milestone that it had previously expected to reach around year-end. Luminar's lidar units are part of an advanced driver-assist system on the Rising Auto R7, a new electric SUV from the largest Chinese automaker, SAIC Motor. Luminar previously announced deals to supply other automakers including Volvo Cars and Polestar, but it hadn't previously revealed plans to begin production of the Iris units earlier than 2023. The lidar units are being made in a factory in Mexico owned by Canadian electronics manufacturer Celestica. Celestica and Luminar are together building a new dedicated factory, also in Mexico, that will be able to manufacture 250,000 Iris units per year.

☆ Elon Musk's rival Austin Russell said Teslas will not become self-driving anytime soon
▼ + stars: | 2022-11-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Russell's company makes LiDAR tech, but Elon Musk has continually spoken out against the radars in the past. Russell founded Tesla self-driving rival Luminar Technologies in 2012 when he was a 17-year-old. Instead of LiDAR, Tesla relies on a suite of external cameras and other sensors for its autonomous-driving efforts. In an interview with Time, Russell said he believes Tesla will not be able to fully achieve self-driving technology until it embraces LiDAR technology. "We effectively have more major commercial wins than any other LiDAR company, and probably any other autonomous vehicle industry company," Russell said.

☆ There are 7 self-made billionaires under 30 on Forbes' billionaires list this year, and more than half of them are Stanford dropouts
▼ + stars: | 2022-04-06 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +3 min

Seven self-made billionaires under the age of 30 were named in Forbes' World's Billionaires List this year. Seven self-made individuals under the age of 30 were named in Forbes' World's Billionaires List this year. Brazilian-born corporate credit-card startup founders Pedro Franceschi, 25, and Henrique Dubugras, 26, are the world's youngest self-made billionaires named in Forbes' list this year. Two Stanford alumni also made this year's list of self-made billionaires under 30. Stanford University is located in Stanford, California, just a few miles from Palo Alto.

☆ La doar 18 ani are o avere de peste 3 miliarde de dolari. Topul celor mai bogați tineri din lume în anul 2021
▼ + stars: | 2021-04-08 | by ( Onixmedia Srl | ) diez.md time to read: +6 min

La doar 18 ani are o avere de peste 3 miliarde de dolari. Topul celor mai bogați tineri din lume în anul 2021Tradițional, în fiecare an, revista Forbes întocmește topul celor mai bogați oameni din întreaga lume. Cea mai tânără persoană din listă are 18 ani și o avere de peste trei miliarde de dolari. Alexandra este pasionată de hipism și a câștigat multiple premii și onoruri în competiții de dresaj de cai. Vezi aici și topul celor mai bogați oameni din întreaga lume în anul 2021.

Persons: Kevin David Lehmann, Lehmann, Werner, Guenther, Kevin David, Wang Zelong, Hua Yuan Titanium, Alexandra Andresen, Katharina Andresen, Alexandra, Katharina, Austin Russell, Russell, Universitatea Stanford . Russell, Gustav Magnar Witzoe, Gustav Magnar, Gustav, Andy Fang, Stanley Tang, Acum, Sam Bankman, Biden, Jonathan Kwok, Walter Kwok, Sun, Kai, Walter, Thomas, Raymond ., Jonathan, Geoffrey, Frații Organizations: Forbes, Wang, Hua Yuan Titanium Dioxide, Compania, Ferd Holdings, Universitatea Stanford, Volvo, Toyota, Universitatea Stanford ., ASA, Fang, Alameda Research, Empire Group Locations: Germania, Karlsruhe, China, Shenzhen, Norvegia, Gustav Magnar Witzoe, norvegian, Fang, DoorDash, New York, Hong Kong, Empire Group Holdings, SHKP

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