World’s youngest self-made billionaire shares the one piece of advice young people should follow

The world's youngest self-made billionaire has come out with some advice for people.

Austin Russell, 28, who left Stanford University in 2012 to start his own hardware and software business, Luminar Technologies, after being awarded a $100,000 grant from the Peter Thiel Fellowship, said he recommends dropping out of university because it is "not for everyone".

In an interview, he said: “If you’re wondering if I would have dropped out [without the grant], yeah. Absolutely. There was no doubt in anyone’s mind,” Austin stated. “It was going to happen anyway.”

When asked if he would recommend dropping out of college to other students, the 28 year old entrepreneur stated: "Absolutely."

Speaking to CNBC Make It, Austin continued: “College is not for everyone.It’s just sort of the traditional approach around what you do and what you’re supposed to do.”

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He added people can learn from the internet, not just university.

"All this information is available at our fingertips now online," the Luminar Technologies founder said. "This is not something that was true 50 years ago, [but] it totally is true now."

He added: “You can do all these kinds of things that were never possible. You can get through entire curriculums and annual courses in weeks if you watch it back to back. There are so many ways to get knowledge imparted upon oneself."

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