Meet the World’s Youngest Self-Made Billionaires at 22
The founders of the AI recruiting platform Mercor have made headlines by becoming the world’s youngest self-made billionaires at the age of 22. This milestone comes after the company secured a remarkable $10 billion valuation. The trio, consisting of CEO Brendan Foody, CTO Adarsh Hiremath, and board chairman Surya Midha, are Bay Area natives who originally connected through their high school debate team.
Record-Breaking Valuation and Funding Round
Mercor gained significant financial backing, raising $350 million in a funding round led by Felicis Ventures. Several well-known investors including Benchmark, General Catalyst, and Robinhood also participated in this investment, boosting the company’s valuation to $10 billion. The young entrepreneurs each hold approximately 22% of the company, according to Forbes estimates.
Transitioning From College to Billionaires
All three founders are recipients of the Thiel Fellowship, a program by billionaire Peter Thiel that provides $100,000 grants to young innovators who choose to skip college. This unique background has positioned them as champions for a new generation of entrepreneurs in the tech industry. In an interview, Hiremath reflected on how quickly his life changed, stating, “If I weren’t working on Mercor, I would have just graduated college a couple of months ago.”
Youngest Self-Made Billionaires in Context
At 22, the Mercor founders have surpassed previous record holders. Polymarket CEO Shayne Coplan, who recently held the title at age 27, was dethroned as the world’s youngest self-made billionaire just 20 days after gaining recognition. Alexandr Wang, cofounder of Scale AI, previously held the title at 28.
The Mercor co-founders have established themselves in the competitive landscape of AI recruiting. Originally focused on connecting Indian engineers with U.S. companies, they pivoted to data labeling, which has become a critical sector in artificial intelligence development.
Achievements and Industry Trends
Mercor appeared on the Forbes Cloud 100 list shortly after its launch and reported a significant revenue growth of $500 million in annualized revenue run rate, up from $100 million just months earlier. This surge arrives amid a transformational period in the data labeling industry, with major players like Meta and Scale AI shifting the dynamics of competition.
Legal Challenges Amid Rapid Growth
As the company gains traction, it also faces legal challenges. In September, Scale AI filed a lawsuit against Mercor, alleging the theft of trade secrets from a former employee who joined the startup. Despite the ongoing litigation, Foody expressed that the team remains focused on their business operations.
The Founders’ Tech Backgrounds
- Brendan Foody: Grew up in a tech-oriented family; launched his first venture at age 16.
- Adarsh Hiremath: Conducted research under former treasury secretary Larry Summers at Harvard.
- Surya Midha: Childhood friends with Hiremath; all three share a deep-rooted passion for technology.
Despite their newfound wealth, the Mercor founders prioritize their business over personal luxuries, often working late into the night. As they navigate their roles as industry pioneers, they continue to inspire other young entrepreneurs in Silicon Valley and beyond.
