Who is Austin Russell, who bought Forbes Magazine at the age of 28? - Watch Video

Austin Russell, the billionaire CEO of Luminar Technologies, has announced the purchase of an 82% stake in Forbes Global Media Holdings, the company that publishes Forbes magazine. Russell is only 28 years old. This deal has been done for $ 800 million (about Rs 6576 crore). At the same time, the remaining 18% stake of the company will be owned by the Forbes family.

According to the statement, Russell's company will not be involved in the day-to-day operations of the Forbes brand. He plans to appoint a new board with Forbes American media, technology and AI experts. In addition, Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, will remain involved with the company.