Luminar just poached Tesla's lawyer for $30 million

Austin Russel, the billionaire and founder of Luminar Technologies, has been challenging Musk with his self-driving startup for years.

He just took away the company lawyer.

The youngest self-made billionaire onboarded ex-Tesla lawyer Alan Prescott as their new chief legal officer, offering a hefty compensation package of almost $30 million dollars.

The company received $29.5 million in stock awards, as well as cash and a $50,000 bonus, according to the 10-K filing.

The pay package is fitting for his level of experience having previously worked on high-level positions at companies like Ford.

Two other lawyers, AlexanderPhillips and KatharineMartin, received compensation packages as high as $636,000 in 2021.

The key difference between the two companies is in the technology they are using.

Russel's Luminar uses a light detection and ranging technology to detect the car's surroundings, while Elon prefers using cameras and sensors for self-driving cars.

Russel seems to know what he is talking about.

Volvo, Toyota, and Intel are just a few of the companies Russel's company has partnerships with.

Mercedes-Benz acquired up to 1.5 million Luminar shares as part of its partnership with the company for its upcoming line of luxury vehicles.

Austin Russel is showing a lot of promise because of the recent buy-out ofTesla's VP of Legal.