Huang and Altman are the Man Billionaires in A.I. Boom

Just like past tech booms, the latest frenzy has produced a group of billionaires — at least on paper — from smaller start-ups.

Rise of New AI Billionaires

· The AI boom has created new billionaires from start-ups, alongside established figures like Jensen Huang (Nvidia) and Sam Altman (OpenAI).

· These founders resemble past tech booms (dot-com era) where sudden wealth reshaped Silicon Valley power structures.

Notable Start-ups & Founders

· Scale AI: Alexandr Wang (now Meta’s Chief AI Officer) and Lucy Guo (left in 2018, now runs VC firm and Passes). Valued at $14.3B after Meta’s investment.

· Cursor (Anysphere): Michael Truell, Sualeh Asif, Aman Sanger, Arvid Lunnemark. Valued at $27B.

· Perplexity (AI search): Aravind Srinivas; valued at $20B.

· Figure AI (humanoid robots): Brett Adcock; net worth $19.5B.

· Safe Superintelligence: Ilya Sutskever; valued at $32B despite no product.

· Harvey (AI legal software): Winston Weinberg & Gabe Pereyra; valuation jumped from $3B to $8B in 2025.

· Thinking Machines Lab: Mira Murati; hit $10B valuation within months of launch.

· Mercor (AI data start-up): Founded by Brendan Foody, Adarsh Hiremath, Surya Midha; valued at $10B.

Speed of Wealth Creation

· Unlike Elon Musk’s gradual rise, most new AI billionaires became wealthy within 2–3 years of founding their companies.

· Many firms reached multi-billion valuations before releasing products (e.g., Safe Superintelligence, Thinking Machines Lab).

Youth Factor

· Most founders are under 40, echoing past tech booms.

· Examples:

o Mercor founders in their early 20s.

o Cursor founders in their mid-20s (MIT graduates, class of 2022).

o Wang (28), Guo (31), Murati (37), Sutskever (39), Adcock (39), Srinivas (31).

Gender & Diversity

· The boom has produced mostly male billionaires.

· Few women reached billionaire status: Lucy Guo and Mira Murati.

· Experts note the homogeneity of this wealth surge.

Sustainability Concerns

· Venture capitalists caution that many of these fortunes are “paper wealth” tied to inflated valuations.

· Long-term billionaire status depends on whether these start-ups deliver real products and survive market pressures.

Overall Takeaway

The AI boom of 2023–2025 has minted a new generation of young, mostly male billionaires at lightning speed, often before their companies have proven themselves. Their rise mirrors past tech booms, but their fortunes may be fragile if valuations don’t translate into lasting impact.

[ABS News Service/30.12.2025]

The artificial intelligence boom has turned high-profile billionaires like Jensen Huang, the chief executive of the chip maker Nvidia, and Sam Altman, the chief executive of the ChatGPT maker OpenAI, into even richer billionaires.

It has also produced a crop of new billionaires — at least on paper — from smaller start-ups. These individuals may become future Silicon Valley power brokers like the wealthy executives created by past tech booms, including the late-1990s dot-com frenzy, who then invested in or helped steer later waves of technology.

The new A.I. billionaires include Alexandr Wang and Lucy Guo, who founded Scale AI, a data-labeling start-up that received a $14.3 billion investment from Meta in June. The founders of the A.I. coding start-up Cursor — Michael Truell, Sualeh Asif, Aman Sanger and Arvid Lunnemark — entered the billionaire ranks when their company was valued at $27 billion in a funding round last month.

The entrepreneurs behind Perplexity (an A.I. search engine), Mercor (an A.I. data start-up), Figure AI (a maker of humanoid robots), Safe Superintelligence (an A.I. lab), Harvey (an A.I. legal software start-up) and Thinking Machines Lab (an A.I. lab) are in the nine-figure club as well, according to the companies or people close to the start-ups, as well as data from the start-up tracker PitchBook and news reports. Most reached that point after the valuations of their privately held companies soared this year, turning their company stock into gold mines.

Jai Das, a partner at Sapphire Ventures, a Silicon Valley venture capital firm, likened the new billionaires to the railroad barons of the 1890s Gilded Age who leaned into that era’s technology boom. But he cautioned that their wealth could be fleeting if the start-ups did not live up to their promise.

“The question is which of these companies is going to survive,” Mr. Das said. “And which of these founders can actually end up really being true billionaires and not just paper billionaires.”

Here’s what to know about them.

They became billionaires quickly.

Elon Musk’s journey to billionaire took years. After becoming a millionaire when one of his early ventures was sold to eBay in 2002, the tech entrepreneur did not turn into a billionaire until he was leading the electric carmaker Tesla and had started the rocket company SpaceX.

In contrast, most of the new A.I. billionaires founded their companies less than three years ago after OpenAI released ChatGPT, and then saw investors rapidly bid up the values of their firms.

Mira Murati, 37, a former top executive at OpenAI, announced her A.I. start-up, Thinking Machines Lab, only in February. By June, the start-up had hit a $10 billion valuation without releasing a single product. (The start-up, which declined to comment, has since released one.)

Ilya Sutskever, 39, another former top OpenAI executive, launched Safe Superintelligence in June 2024. The company has not unveiled a product but is valued at $32 billion after raising $2 billion this year, according to PitchBook. Safe Superintelligence declined to comment.

Brett Adcock, 39, the chief executive of Figure AI, founded the company in 2022. His net worth stands at $19.5 billion, Figure AI said. Aravind Srinivas, 31, the chief executive of Perplexity, also created his company in 2022; it is valued at about $20 billion, according to PitchBook.

Perplexity said Mr. Srinivas was not focused on his wealth and “prefers to live modestly,” adding that the company is searching for wisdom, which “is far more important than the search for wealth.”

The wealth accumulation has been especially rapid this year. Harvey, which is based in San Francisco, raised money in February, June and this month. Each time, the company’s valuation soared, reaching $8 billion from $3 billion in February. That catapulted the wealth of Harvey’s founders, Winston Weinberg and Gabe Pereyra.

Mr. Weinberg, 30, who lives with Mr. Pereyra, 34, and a third roommate, said he did not think much about riches. “Yeah, sure it’s in the billions, but it’s on paper,” he said.

The exception to the speed is Scale AI, which grew relatively quietly until Meta’s investment.

Mark Zuckerberg, Meta’s chief executive, tapped Scale AI’s Mr. Wang, 28, to be his chief A.I. officer. Ms. Guo, 31, left the start-up in 2018 and has started a venture capital firm and Passes, a platform for influencers to make money from their content.

Scale AI and Meta declined to comment, and Ms. Guo did not respond to a request for comment.

They are under 40 years old.

Youth is a hallmark of tech booms. Larry Page and Sergey Brin were in their 20s when they founded Google in 1998. Mr. Zuckerberg was 19 when he founded Facebook in 2004.

The latest A.I. billionaires are also youthful. “Like the original Gilded Age and like the dot-com boom, this A.I. moment is making some very young people very, very, very rich, very quickly,” said Margaret O’Mara, a history professor at the University of Washington who focuses on the tech economy.

Among them are the 22-year-old founders of Mercor. Brendan Foody, the chief executive, dropped out of Georgetown University in 2023 after founding the company with two high school friends, Adarsh Hiremath, the chief technology officer, and Surya Midha, the chairman. Mercor, which declined to comment, was valued at $10 billion in an October funding round.

Other young billionaires include Mr. Truell, the 25-year-old chief executive of Cursor, and his co-founders, Mr. Asif, Mr. Sanger and Mr. Lunnemark, who are also in their 20s. They met at M.I.T. and graduated in 2022. A $2.3 billion funding round last month brought the valuation of their start-up — also known by its parent company’s name, Anysphere — to $27 billion, according to PitchBook.

Most are men.

The A.I. boom has elevated mostly male founders to billionaire status, a pattern in tech cycles. Only a few women — such as Ms. Guo and Ms. Murati — have reached that wealth level.

The A.I. craze has amplified the “homogeneity” of those who are part of this boom, Dr. O’Mara said.