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– You have spent an enormous amount of time finding out what was possible, says the entrepreneur.
NEW YORK (Nettavisen): Austin Russell, 25, the founder of the Luminar company, became a billionaire on Thursday after his company debuted on Wall Street. And on Friday the adventurous boom continues.
View the company’s video presentation on video on top of the box.
Autonomous Vehicle System
The 25-year-old founded Luminar, a company that works with systems for autonomous vehicles, when he was 17 in 2012 after leaving Stanford University.
The company is based in Florida and manufactures so-called Lidar scanners that use lasers to operate autonomous vehicles.
According to the Wall Street Journal, Luminar’s technology is used to create an “image” of surrounding obstacles, such as other cars and pedestrians, for driverless cars to avoid collisions.
The newspaper writes that the value of the company rose 28 percent on Thursday and that the stock ended at $ 22.98. It values the company at $ 7.8 billion.
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Value of 21 billion crowns
“We’ve spent an incredible amount of time figuring out what’s possible,” Austin Russell says in a comment regarding the list on Thursday.
– In a way, it’s completely crude and surreal to be a part of this, when it is now made public. But in a way, it makes perfect sense, says Russell.
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Austin Russell owns about a third of the company’s shares, 104.7 million shares, which means his stake on Thursday was worth $ 2.4 billion, or NOK 21 billion, Forbes writes.
They also name the young man “the youngest self-made billionaire in the world.”
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The stock was up 48 percent on Friday.
Also on Friday the rise continues for the Luminar company and the 25-year-old. Two hours after opening on Wall Street, the stock was up another 48 percent, to more than $ 34.
The sea
Soon this may become a common sight
The technology also has its critics, including Tesla boss Elon Musk, writes the Wall Street Journal.
Tesla doesn’t use lidar in its cars, and Musk has previously stated that he wouldn’t use the technology even if it was free.
However, Luminar says they forecast the market to grow from around $ 5 billion today to around $ 30 billion by 2030.
Volvo is one of the companies that will use the technology from 2022.
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