These two Indian-Americans surpassed Mark Zuckerberg as the world’s youngest self-made billionaire: They are college dropouts
Three 22-year-old entrepreneurs have made history by becoming the world’s youngest self-made billionaires, surpassing Mark Zuckerberg’s long-standing record. The trio founded Mercor, a San Francisco-based artificial intelligence recruitment startup, which recently reached a $10 billion valuation following a $350 million funding round led by Felicis Ventures. The company connects leading AI laboratories with thousands of skilled human experts, helping refine machine learning models through human-in-the-loop processes.Chief executive Brendan Foody, chief technology officer Adarsh Hiremath, and chairman Surya Midha each own roughly 22 per cent of the company. Founded in 2021 while the founders were still in college, Mercor has rapidly become one of the fastest-growing players in the human-in-the-loop AI sector. Its network now includes more than 30,000 contractors who earn an average of $85 per hour, collectively receiving over $1.5 million in payments each day.From debate team captains to business foundersThe three co-founders attended Bellarmine College Preparatory School in San Jose and were part of the school’s highly ranked debate team. Hiremath and Midha were ranked fifth nationally in policy debate, while Foody and his partner were ranked eighth. All three served as captains of the team, which has been ranked top in the country for four consecutive years.Both Hiremath and Midha are of Indian origin. Midha was born in Mountain View, California, to parents who immigrated from New Delhi, and grew up in San Jose. They represent a new generation of Indian-American innovators making an impact in Silicon Valley’s AI sector.Academic achievements and early career choicesHiremath enrolled in a concurrent bachelor’s and master’s programme in computer science at Harvard University, conducting machine learning research and working as a research assistant to former US Treasury Secretary Larry Summers. He left Harvard during his sophomore year to focus on Mercor, which at the time had not yet raised any funding.Midha graduated as salutatorian from Bellarmine in 2021 and attended the School of Foreign Service at Georgetown University, studying international relations, mathematics, and economics. He spent two years at Georgetown, assisting in debate coaching, interning with the Brookings Institution, and working as a research assistant in the Security Studies Programme. Foody also enrolled at Georgetown to study economics. The three co-founded Mercor in January 2022 and won the Georgetown Undergraduate Entrepreneurship Challenge, receiving a $10,000 prize.The Thiel Fellowship and Mercor’s rapid evolutionAll three founders received Thiel Fellowships in 2024, which provide $100,000 grants to young entrepreneurs who leave college to pursue startups. Foody and Midha officially withdrew from Georgetown, while Hiremath had already left Harvard.Mercor initially matched teams of engineers with start-ups but pivoted to creating a unified global labour marketplace. By 2023, the company used AI to automate resume screening, candidate matching, interviews, and payroll management. It now supplies highly specialised experts—including engineers, lawyers, and doctors—to train AI systems.Funding, growth and global reachMercor raised $3.6 million in seed funding led by General Catalyst, followed by a $30 million Series A round led by Benchmark. Notable investors include Peter Thiel, Jack Dorsey, Adam D’Angelo, and Larry Summers. The company has grown over 40 per cent month-on-month throughout 2024 and employs over 300 people worldwide. India remains its largest talent source, followed by the US, with Europe and South America seeing rapid growth.The startup operates without a traditional sales team, maintaining operations in San Francisco and India. With its new funding, Mercor plans to expand its expert network, improve AI-matching systems, and accelerate project delivery.
