A group of 22-year-old friends from the Bay Area have rewritten Silicon Valley history, becoming the world’s youngest self-made billionaires. Their AI recruiting company, Mercor, has soared to a $10 billion valuation after its latest funding round—surpassing records once held by Mark Zuckerberg.
The Young Trio Behind Mercor
Mercor’s meteoric rise can be traced to its three co-founders: CEO Brendan Foody, CTO Adarsh Hiremath, and board chairman Surya Midha. The trio first met in high school as members of a debate team. Their shared curiosity about tech and the future of work led them to launch Mercor in 2023.
In its early days, Mercor aimed to connect skilled engineers in India with U.S. companies seeking coding talent. The startup’s real breakthrough came after introducing AI-driven recruitment and data-labelling systems, matching top-tier professionals to elite AI labs like OpenAI.
A Funding Milestone That Changed Everything
This week, Mercor announced a massive $350 million Series C round led by Felicis Ventures, joined by Benchmark, General Catalyst, and Robinhood. The deal values the company at $10 billion—cementing each founder’s billionaire status with approximately a 22% personal stake.
“It still feels surreal,” said Foody. “We never could have imagined this just a couple of years ago.”
From College Dropouts to Industry Leaders
All three founders are Thiel Fellows—recipients of the prestigious $100,000 grant from investor Peter Thiel, which encourages young innovators to skip college and build companies instead. Hiremath left Harvard after two years, while his teammates also chose entrepreneurship over traditional paths.
“It’s crazy to think I’d just be graduating this year if Mercor hadn’t taken off,” Hiremath shared.
Beating the Young Billionaire Benchmark
With their new wealth, Foody, Hiremath, and Midha dethroned Polymarket’s Shayne Coplan, 27, as the youngest self-made tech billionaires. They even overtook Mark Zuckerberg, who became a billionaire at 23.
Though Kylie Jenner was once dubbed the youngest self-made billionaire at 21, Forbes later revised that claim after re-examining her company’s revenue figures—making Mercor’s trio the youngest authentic billionaires on record.
Inside Mercor’s Rapid Growth
The company’s growth has been staggering. Within two years, Mercor’s annualised revenue run rate climbed from $100 million in March to $500 million by September. The startup recently debuted on the Forbes Cloud 100 list, and its founders were all featured in the 2025 Forbes Under 30 ranking.
As competition in the data labelling industry intensifies—especially after Meta’s $14 billion partial acquisition of Scale AI—Mercor has positioned itself as a desirable alternative for independent AI labs wary of significant tech influence.
Legal Tensions and Market Rivalries
Growth hasn’t come without friction. Scale AI filed a lawsuit against Mercor in September, alleging trade-secret theft by a former employee who joined the startup. Foody downplayed the incident, noting that his team remains focused on building and innovating rather than getting distracted by legal noise.
Humble Roots and Relentless Work Ethic
All three founders grew up surrounded by technology—each the child of software engineers. Foody’s parents worked in tech and startups, while Hiremath and Midha’s friendship began at age ten in Bay Area debate tournaments. Their shared interest in software and human productivity evolved into a company now redefining recruitment for the AI age.
Despite their new billionaire status, the founders insist their lives haven’t changed much. “I’m in the office until 10:30 p.m. most nights,” Foody said. “There’s just no time to be out buying fancy stuff.”
FAQs about Mercor and Its Founders
- What does Mercor do?
Mercor is an AI recruiting and data-labelling platform that connects engineers, Ph.D.s, and experts with AI labs and tech firms, helping them train better large language models. - Who are the founders of Mercor?
The company was founded by Brendan Foody (CEO), Adarsh Hiremath (CTO), and Surya Midha (Chairman), all aged 22. - How much is Mercor currently valued at?
Following its latest Series C round led by Felicis Ventures, Mercor is valued at $10 billion. - How did the founders become billionaires so quickly?
Each founder holds roughly a 22% stake in the company. The new valuation pushed their net worths above $1 billion. - Are the founders college graduates?
No. All three are Thiel Fellows who chose entrepreneurship over completing college degrees. - What’s next for Mercor?
Mercor aims to expand globally, strengthen its data-labelling capabilities, and partner with more frontier AI labs seeking scalable, ethical data solutions.
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Conclusion
Mercor’s rise from a small high school idea to a $10 billion powerhouse shows how quickly innovation can reshape industries. The journey of Foody, Hiremath, and Midha captures the spirit of a new generation of entrepreneurs who blend technical skill with fearless ambition. Their story proves that age is no barrier to global impact. As Mercor continues to grow, the world will be watching how these young visionaries redefine recruitment and the role of AI in the future of work.