At 23, two Indian-origin AI entrepreneurs double wealth to $4.2 billion each

Dubai: Two Indian-origin entrepreneurs have doubled their fortunes to an estimated $4.2 billion (around Rs15.4 billion) each after their artificial intelligence startup, Mercor, secured fresh funding at a $20 billion valuation.

Adarsh Hiremath and Surya Midha, both 23, are among the three co-founders of the US-based company, alongside chief executive Brendan Foody. The trio raised $750 million in a Series D funding round announced on November 10, attracting investors including Benchmark, General Catalyst, Nvidia and Salesforce.

According to Forbes, each founder is estimated to own a 21 per cent stake in Mercor, putting their individual fortunes at approximately $4.2 billion. Their wealth has nearly doubled from an estimated $2.2 billion each in October 2025, when the company was valued at $10 billion following a $350 million funding round.

The three entrepreneurs made history last year when they became the world's youngest self-made billionaires at 22. They retain that distinction at 23, with Midha being the youngest of the three by around two months.

Hiremath and Midha studied at Bellarmine College Preparatory, an all-boys school in San Jose, California, where they became friends through the debate team.

The pair achieved an unusual distinction, becoming the first team from their school to win all three major national policy debate championships in a single year.

They later joined forces with Foody to establish Mercor in 2023. The founders were also selected for the Thiel Fellowship, which provides young entrepreneurs with $100,000 to pursue business ventures.

Midha, whose parents moved to the US from New Delhi, was born in Mountain View and raised in San Jose. Hiremath went on to study computer science at Harvard University before leaving after two years to concentrate on the startup.

Mercor initially started as a recruitment platform connecting freelance coders in India with US companies. It later expanded into data labelling and AI training, connecting professionals such as doctors and lawyers with AI companies to help develop and evaluate AI models.

The latest funding will support the expansion of its evaluation and post-training business. These services help companies test AI models, measure their performance and improve their ability to handle professional tasks.

In a post on X, Foody said Mercor had grown from $1 million to $3 billion in gross annualised revenue in just over two years. He also reported $250 million in gross sales in its latest month and said the company had more than doubled its customer base to over 100.

Despite its rapid growth, Mercor's valuation remains below competitors Scale AI, valued at around $29 billion following Meta's investment in 2025, and Surge AI, estimated by Forbes at approximately $24 billion.

Meanwhile, Kalshi co-founder Luana Lopes Lara, 30, is recognised as the world's youngest self-made woman billionaire.