Billionaire to Buy Majority Stake in Forbes

From a Wall Street Journal story by Alexandra Bruell headlined “Automotive Tech Billionaire Austin Russell to Acquire Majority Stake in Forbes”:

The CEO of an automotive-technology company said he is buying a majority stake in Forbes Global Media Holdings in a deal that values the business media outlet at nearly $800 million.

Austin Russell—the 28-year-old founder of Luminar Technologies, which makes sensors and software used for safety and autonomous-driving features—said he has agreed to buy an 82% stake in Forbes. His purchase includes the remaining portion of the company owned by its namesake family and brings to a close a lengthy sale process.