World’s youngest self-made billionaire: Dedication and hard work are generally credited with helping someone become a self-made millionaire. Since the world is based on money and millionaires have it, it is a position that many people strive for. However, very few people grow up believing that they will become millionaires. Instead, it’s the preconceived notion that getting there will take a lot of effort and time. However, for some, like Alexander Wang (now 26), co-owner of Scale AI, it happened when he was just 25. Since becoming the youngest self-made millionaire in the world, creator Alexander Wang, digital entrepreneur and CEO of Scale AI, has garnered international attention. What exactly is the identity of the young Asian-American billionaire and how did he become so rich?
Alexander Wang: A College Dropout
At the Massachusetts Institute of Technology (also known as MIT), Wang began his studies for a BS in Mathematics and Computer Science. She co-founded Scale with fellow young digital prodigy Lucy Guo that summer, after completing her first year at an elite New England university. The two co-founders reportedly met when both were working on the question-and-answer website Quora. The venture was launched by the business partners with funding from US start-up incubator Y Combinator. According to Wang, when he first started the scale, “I promised my parents it would be something I did for the summer… Naturally, I never returned to school.”
Alexander Wang: Background
Perhaps in part as a result of his affluent upbringing, the young billionaire has a strong background in science and technology. Wang’s parents, who both worked as physicists for the US Air Force and Army, raised her in New Mexico. Since Wang regularly participated in math and coding competitions in school, it is clear that he inherited a sharp mind. At the age of 17, when most high school students are probably gearing up for college and beyond, Wang was working full-time as a coder for Quora.
a brilliant mind
Wang has already been mentioned in Forbes’ 2018 30 Under 30 list, even before achieving the remarkable distinction of being the world’s youngest self-made millionaire. The annual list highlights the most outstanding rising stars, entrepreneurs, thinkers and brilliant minds from various sectors and businesses. Wang and Scale co-founder Lucy Guo were listed on the coveted list under the heading Enterprise Technology. According to the organization’s “About” page on its corporate website, Skale seeks to “accelerate the development of AI applications.”
providing technology for free
The success and value of its technology has resulted in over 300 businesses and organizations using Scala’s amazing service. Many well-known companies, including General Motors, PayPal, Toyota, SAP, Lyft and the US military, use technology provided by Wang’s business. Skale is currently giving away its technology for free, to examine satellite photos of the effects of Russian attacks and military operations in Ukraine. As Wang told Forbes, every industry is sitting on massive amounts of data. Scale wants to help them maximize the potential of data and use AI to transform their company. Overall, there’s a new, ambitious computer genius on the scene, and though he’s just 25, his company is competing with heavyweights like Elon Musk and Jeff Bezos.
Wang’s business received nearly US$350 million in funding last year. Due to this financial backing and the fact that Scale had already generated US$100 million in revenue, the young entrepreneur’s business was valued at an astonishing US$7.3 billion. Hence, Forbes estimates that his 1% ownership in the company has resulted in his net worth rising to US$1 billion. For a 25 year old, not bad. In fact, according to Forbes list of world billionaires, he was ranked 2,534 at the time of writing. Pedro Franceschi, co-founder of Brazil’s credit card business Brex, is the next youngest billionaire. Pedro Franceschi is also 25 years old.