Austin Russell, World’s Youngest Self-Made Billionaire, Celebrates Career Trajectory With $83M L.A. Trophy

Published: December 11, 2021 | By: American Luxury Staff

Last summer, a progressive estate in Pacific Palisades was purchased by a mysterious buyer for $83 million. According to Dirt, the buyer of the ecologically sensitive property was Austin Russell, an automotive automation autobillionaire. Russell founded Luminar Technologies, which went public last year to much fanfare and a figurative Ben Franklin tickertape cavalcade of revenue. Hence house.

The original 1973-built, 5,000 sq. ft. modern on the .99-acre lot was replaced with an architecturally adventurous and technologically tricked-out six-bedroom home. The house, which was completed in 2020, incorporated green-and-growing throughout its levels. It was built on speculation by developer Ardie Tavangarian, who also picked up a bunch of Elon Musk’s L.A. homes last year for around $62 million.

Construction is daring but sensitive; it’s sustainable and reclaimed materials-heavy. It’s also tech-heavy, with a retractable roof and retina-scan entry system for the master suite. Amenities include indoor and outdoor theaters, an outdoor sauna, a lounge with a full-length bar, a fully-stocked wine cellar, and a garage that is both car collection showroom and, as necessary, entertainment space; its car turntable doubles as a dance floor, if the will is there.

The 20,000 sq. ft. house is set in an ideal corner of the city, a bluff location for very fine views and an abutment with the Santa Monica State Park. Landscaping features include olive trees and cabanas, and the expressive curved wall.

Luminar develops lidar technology that helps self-driving vehicles “see” their surroundings. Russell founded the company at the tender age of 17. Today, at 26, his net worth hover around $1.7 billion, according to Forbes.

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