Founder
Oculus VR
Founder
Anduril Industries
THE MONEY, PART II: Luckey’s second virtual reality startup and defense-focused Anduril was formed in 2017 and is the fastest-growing upstart defense firm in the country. Raised $450 million in a Series D funding round in June. The latest financing more than doubles Anduril’s valuation to $4.6 billion from its last raise in July 2020.
THE WEALTH: Reported not to have put much of his own money in building up Anduril, because of fierce VC interest. “We’ve never needed to dip into the Palmer pot,” Chief Executive Brian Shimpf told Forbes. Believed to still have a significant stake in Anduril after latest funding deals. The $2.5 billion estimate of his wealth, while nearly double from a year ago, could prove to be on the low side for the tech visionary. He’s believed to be the wealthiest businessperson under the age of 30 in Southern California.
THE TECHNOLOGY: Anduril makes a combination of hardware and software, including autonomous drones, sentry towers and other products used to monitor and protect large areas, which are built around its artificial intelligence platform that uses computer vision, machine learning and mesh networking. Moving to huge new campus in Costa Mesa to accommodate its growing ranks of workers and new business.
PORTFOLIO: Owns home on Lido Island. Among reported big splurges after the Oculus sale: a 1969 Mustang, several helicopters, submarine, and an island property.
ON INVESTING: Favors low-risk portfolio; not interested in being a VC. “My goal is to make my business successful, to make my employees successful, not to spend my time turning the money I’ve already made into more money by investing in what other people are doing,” he told CNBC.
• NET WORTH: $2.5 billion
• LAST YEAR: $1.3 billion
• AGE: 28
• RESIDENCE: Newport Beach
• SOURCE OF WEALTH: Oculus, Anduril stakes
