Palmer Luckey left Facebook at 24, later invested $1 billion in Ohio Factory; his defence company is now valued at nearly $61 billion

Palmer Luckey’s career has moved from virtual reality headsets built in his parents’ garage to a nearly $1 billion factory making autonomous military systems. The 33-year-old entrepreneur, who co-founded Oculus VR and later left Facebook, is now leading a different kind of technology bet through Anduril Industries: building defence products and manufacturing capacity before large orders arrive. Anduril’s Arsenal-1 factory in Ohio is the latest example of that approach. The company says it is investing nearly $1 billion of its own money into the facility, which began producing its Fury combat aircraft in March 2026.

Palmer Luckey’s journey began with a virtual reality headset

Palmer Luckey grew up in Long Beach, California, and was homeschooled by his mother. As a teenager, he became interested in electronics, repairing and modifying video game consoles before turning his attention to virtual reality. At 16, he built an early version of a VR headset in his parents’ garage. His experiments eventually led to Oculus VR, which he founded in 2012. A Kickstarter campaign for the Oculus Rift headset attracted attention from gamers and investors, helping the company grow.

Facebook acquired Oculus in 2014 for about $2 billion in cash and stock. The deal placed Luckey, then in his early twenties, among the most talked-about young technology entrepreneurs.

Why Palmer Luckey left Facebook?

Palmer Luckey left Facebook in March 2017. His departure followed a period of controversy over his reported financial support for a political meme group, Nimble America, as well as legal issues surrounding Oculus. Facebook confirmed his exit in a statement to TechCrunch, saying: “Palmer will be dearly missed.” The company also credited his “inventive spirit” with helping kick-start the modern virtual reality industry.

Anduril: A new company with a different mission

In 2017, Luckey founded Anduril Industries with a group of technology entrepreneurs, including former executives from Palantir. The company focuses on defence technology, including autonomous aircraft, surveillance systems and other military equipment.

Its approach differs from the traditional defence model. Rather than waiting for a government contract before developing a product, Anduril has sought to build technology first and then offer finished systems to potential customers.

One early example was its border surveillance technology. Anduril’s towers were tested by US Customs and Border Protection before the agency made them part of an official programme in 2020. In June 2026, the company announced a $363 million order for more than 200 additional towers.

Arsenal-1 puts the strategy to the test

Announced in January 2025, Arsenal-1 is planned to cover about five million square feet and create more than 4,000 jobs in Ohio. Fury production began in March 2026, ahead of the original July target. The factory is designed to make several systems, not just Fury. Anduril bets that investing in production early will help it respond quickly if demand grows. For Luckey, Arsenal-1 is the next chapter in a career built around turning an ambitious idea into something that can be made at scale.