People might be questioning who Austin Russell’s parents are. Stay tuned if you love exploring details about the self-made billionaire’s father and mother.

The college drop-out turned billionaire is the founder and CEO of Luminar Technologies. 

Russell founded Luminar while he was still studying in high school. After graduation, he enrolled at Standford University. But he left the college to begin a new chapter of his life.

The reason why Austin dropped out of the university is to focus on Luminar. Likewise, he also won $100,000 from the Thiel Fellowship Program during his college days. 

For the first five years, the company was in stealth mode. Austin engineered and manufactured Luminar’s lidar himself instead of purchasing the components.

The company was public on 3 December 2020, making him the world’s youngest self-made billionaire at 25.

Russell acquired 82 percent of Forbes in a deal valuing the company at $800 million in May 2023.

Austin Russell Parents: Father Michael Russell And Mother Shannon Russell

Austin Russell’s father is Michael Russell, who works in commercial real estate. His father is now a team member of Luminar Technologies.

Austin’s mother is a former model and actress Shannon Cleye who acted on “The Young and the Restless.”

Austin Russell’s parents are the most supportive in the world. They supported their child in every step of his life.

Moreover, Mr. and Mrs. Russell agreed to his decision to drop out of his studies. They even helped him achieve his career goals following his college departure.

Austin’s parents connected him with experts and mentors who provided valuable support and guidance. Furthermore, they fueled Austin’s passion for technology.

On the other hand, Russell has been very talented since his childhood. His parents saw his talent early.

Also, Austin’s parents decided to be with him in whatever he did and help him in every possible way.

Russell also respected his parents and proved it by focusing on his dream company and succeeding. His parents are a proud parents of a billionaire.

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Know More About Austin Russell

Austin Russell was born on 14 March 1995. He grew up in Newport Beach, California.

Austin had a research lab in his parent’s garage in Southern California when he was 11.

At 15, Russell submitted his first patent application for a groundwater recycling system to reuse water from sprinklers.

His parents introduced him to laser entrepreneur Jason Eichenholz, who became his mentor and later joined Luminar as a co-founder and CTO.

In 2013, Austin Russell graduated from St. Margaret’s Episcopal School. While he was in high school, he studied at the Beckman Laser Institute at the University of California, Irvine. 

He said that he learned new skills through Wikipedia and Youtube videos.

Russell has an estimated net worth of $1.6 billion due to his tech-startup company Luminar Technologies. The company develops hardware and software meant to power self-driving cars. 

The billionaire purchased his house worth $83 million in July 2021. The mansion has a comfortable home theatre, two panic rooms, a spa complex, and even a retractable roof for star gazing.

Two months after buying the mansion, he paid another 10.6 million for a 13,000-square-foot mansion in Winter Park, Florida, only 11 miles from Luminar’s headquarters.

That big purchase reportedly represented Florida’s second-largest residential real estate transaction.

Russell purchased the Palisades home through a South Dakota-based trust, a form of a financial institution favored by an increasing number of billionaires.

He values the secrecy, security, and lower taxes the trust can provide.

Likewise, the Florida property was also purchased through a similar South Dakota-based trust. Austin’s father is listed as the beneficial owner of the Florida property.

Russell intends to divide his time between Central Florida and his native Southern California.

There is high-tech gadgetry in his mansions everywhere. Even his main bedroom has a retinal scanner to enter the room.

Fans would love to know more about Austin Russell’s parents and what they have been doing recently.

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