Dropped Out Of School At 19, Alexander Wang Becomes 3rd World’s Youngest Self-Made Billionaire At 25
Wang's company, Scale AI, based in San Francisco, has secured contracts totaling up to $350 million to support the United States Air Force and Army in utilizing artificial intelligence. The technology developed by Scale AI utilizes satellite imagery to analyze damage caused by Russian bombs in Ukraine efficiently, providing critical information to military analysts.
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In a stunning achievement, Alexander Wang, who dropped out of MIT at the age of 19, has emerged as the world's third-youngest self-made billionaire at the age of 25. Co-founding Scale AI after growing up near the top-secret Los Alamos National Lab, where the first atomic bomb was created, Wang's journey is an extraordinary tale of success.
Wang's company, Scale AI, based in San Francisco, has secured contracts totaling up to $350 million to support the United States Air Force and Army in utilizing artificial intelligence. The technology developed by Scale AI utilizes satellite imagery to analyze damage caused by Russian bombs in Ukraine efficiently, providing critical information to military analysts.
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Beyond military applications, over 300 organizations, including General Motors and Flexport, benefit from Scale's capabilities. The company, founded by Wang at the age of 19, focuses on extracting valuable insights from vast amounts of unprocessed data, such as video from self-driving cars or extensive shipping paperwork.
Speaking about the vast potential of data, Wang stated, "Every industry is sitting on massive volumes of data. Our objective is to assist them in maximizing the data's potential and utilizing AI to accelerate their businesses."
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Scale AI, with an estimated annual revenue of $100 million, achieved a valuation of $7.3 billion in a fundraising round of $325 million last year. Wang, owning approximately 15% of the company, has become the youngest self-made billionaire globally, with an estimated net worth of $1 billion. Pedro Franceschi, a 25-year-old Brazilian and creator of the credit card company Brex, holds the second position.
Wang, a math prodigy in his youth, participated in national math and coding competitions. He founded Scale AI at 19, initially considering it a summer project. However, the company's success led him to forego his return to MIT, emphasizing the transformative potential of his work.
