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Alexandr Wang was a math prodigy as a child and grew up in the shadow of America's nuclear weapons program. At the age of 19, he dropped out of MIT to co-found Scale AI, and by the time he was 25, he had become the world's youngest self-made millionaire. Alexandr Wang, a digital entrepreneur and the CEO and founder of Scale AI, has lately made news throughout the world for being the world's youngest self-made billionaire. His accomplishment places him in the record books.
How did he become the young Asian-American billionaire, and how exactly did he get his start in the financial world? Let’s take a more in-depth look.
Wang Founded His Firm After Dropping Out Of College
At the Massachusetts Institute of Technology, Wang started his undergraduate studies toward a Bachelor of Science degree in Mathematics and Computer Science (aka MIT). The Scale was founded by him and another young expert in technology, Lucy Guo, during the summer following the completion of his first academic year at the illustrious New England institution.
Forbes claims that the two people who would later go on to create the company met while they were both employed for the online question and answer service Quora. The Scale was launched by the entrepreneurial couple with funding from the Y Combinator start-up accelerator in the United States. On starting Scale, Wang recounted, “I told my parents it was just going to be a thing I did for the summer … Obviously, I never went back to school.”
He’s Now Worth US$1 Billion
In the previous year, Wang's business was granted investment backing of approximately US$350 million. The young business owner's company was given a gigantic valuation of US$7.3 billion as a result of this financial backing, in addition to the fact that Scale has been enjoying revenue of US$100 million. Forbes has calculated that he now has a net worth of one billion United States dollars as a result of the one percent ownership he has in the company. Not too shabby for someone who is 25 years old. In point of fact, as this article was being written, he held the 2,534th spot on Forbes' list of the world's richest people.
Wang Hails From A Scientific Family
Perhaps the young billionaire's technological and scientific expertise can be attributed, at least in part, to the achievements of his family. According to Prestige, Wang's parents were both physicists who worked on projects for the American military while he was growing up in New Mexico. Wang's childhood home was in the state of New Mexico. Wang, who had clearly inherited a brilliant mind himself, used to compete frequently in math and coding competitions while he was still in school. At the age of 17, while most high school kids are likely beginning to prepare for their trip to university and beyond, Wang was already working full-time as a coder for Quora.
He Was Previously Featured On Forbes
Before Wang earned the remarkable distinction of becoming the world's youngest billionaire who made his fortune on his own, his name had already been mentioned in Forbes' list of the top 30 under 30 for 2018. The annual list highlights the most amazing rising young business owners, stars, thought leaders, and brilliant brains from a wide variety of diverse fields and areas of activity. In the Enterprise Technology area of the prestigious list, Wang and his Scale co-founder Lucy Guo were recognized for their contributions.
More Than 300 Companies Use His Company’s Technology
As per Scale’s “about” page on their company website, the organization aims to “accelerate the development of AI applications.” Scale AI reportedly assists organizations in tackling the data preparation required to train artificial intelligence systems, as reported by Fortune magazine. Because it is the most well-established business in the field, its applications may be found in a wide variety of fields, including mapping, robotics, virtual reality, the armed forces, as well as autonomous vehicles, and the government. Scale is presently providing free access to its technologies in order to assist in the analysis of satellite photographs of the damage caused by Russian assaults and military activities in Ukraine.
As Wang told Forbes, “Every industry is sitting on huge amounts of data … [Scale’s] goal is to help them unlock the potential of the data and supercharge their businesses with AI.” Because Scale's technology is so effective and beneficial, more than 300 different businesses and organizations have signed up to use the outstanding service that the company offers. General Motors, PayPal, Toyota, SAP, Lyft, and even the United States military are among the well-known organizations that make use of the technology developed by Wang's company.
Sources: Money Control, Prestige Online, Forbes