
Why This Billionaire, 30, Still Wears Clothes From Shein, Drives A Honda
Last Updated:
Lucy Guo, a college dropout and co-founder of Scale AI, embraces a frugal lifestyle even after becoming a billionaire.
At 30, tech entrepreneur Lucy Guo has officially surpassed pop icon Taylor Swift to become the world's youngest self-made billionaire. Her achievement highlights the growing influence of innovation and startup success in shaping today's wealth.
Despite her impressive $1.3 billion net worth, as estimated by Forbes, the 30-year-old college dropout is known for her frugal mindset and avoids unnecessary spending.
In an interview with Fortune, Lucy Guo revealed that most of her wardrobe consists of free clothes or fast fashion, with only the occasional designer piece. She still drives a Honda Civic and opts for commercial flights, staying grounded despite her billionaire status.
'I don't like wasting money," the 30-year-old told Fortune, explaining that most of her outfits are either free or bought from Shein.
'Some of them aren't great quality, but there are always a couple of pieces that work well—and I just wear those every day," she said.
Lucy Guo's frugal lifestyle extends far beyond fashion. Despite being a billionaire based in Miami and Los Angeles, she gets around in an old Honda Civic and avoids private jets, only opting for business class on long flights.
'I still literally buy buy-one-get-one-free on Uber Eats," she also told the publication. 'My assistant drives me in a pretty old Honda Civic. I don't care," she mentioned. She believes flashy spending often stems from insecurity.
'The ones wasting money on designer clothes, luxury cars, and the rest—they're usually just millionaires trying to look successful in front of their billionaire friends," Guo explained.
Lucy Guo is an American tech entrepreneur and social media personality best known as the co-founder of Scale AI, a leading artificial intelligence startup. She launched the company in 2016 at just 21 years old, after dropping out of Carnegie Mellon University, where she studied computer science.
Before venturing into the startup world, she gained experience through an internship at Facebook. Although Lucy Guo was ousted from Scale AI in 2018 following a disagreement with her co-founder and CEO Alexandr Wang, she retained an estimated 5 per cent ownership in the company.
As Scale AI's valuation soared, that stake catapulted her into the billionaire club. Today, at 30, she holds the title of the world's youngest self-made billionaire—a testament to how early ambition and smart equity decisions can shape extraordinary success, even in the face of setbacks.
First Published:

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


News18
20 minutes ago
- News18
Disney, Universal sue AI firm Midjourney for copyright infringement
Last Updated: New York, Jun 11 (AP) Disney and Universal have filed a copyright lawsuit against popular artificial intelligence image-generator Midjourney on Wednesday, marking the first time major Hollywood companies have enter the legal battle over generative AI. Filed in federal district court in Los Angeles, the complaint claims Midjourney pirated the libraries of the two Hollywood studios to generate and distribute 'endless unauthorized copies" of their famed characters, such as Darth Vader from Star Wars and the Minions from Despicable Me. 'Midjourney is the quintessential copyright free-rider and a bottomless pit of plagiarism. Piracy is piracy, and whether an infringing image or video is made with AI or another technology does not make it any less infringing," the companies state in the complaint. The studios also claimed the San Francisco-based AI company ignored their requests to stop infringing on their copyrighted works and to take technological measures to halt such image generation. Midjourney could not immediately be reached for comment. The small startup is one of a crop of research labs enabling people to experiment with AI-generated visuals and text. Major AI developers don't typically disclose their data sources but have argued that taking troves of publicly accessible online text, images and other media to train their AI systems is protected by the 'fair use" doctrine of American copyright law. (AP) GSP


Indian Express
an hour ago
- Indian Express
Trump says China trade deal ‘done': 55% tariff, supply of rare earth minerals
President Donald Trump said Wednesday that the United States has reached a trade agreement with China, including an easing of curbs imposed by Beijing on export of rare earth minerals and magnets that are key inputs for industries ranging from automobiles to electronics. 'Our deal with China is done, subject to final approval with President Xi and me,' Trump said in a post on Truth Social. He said China would supply 'any necessary rare earths' and magnets, while the US would make concessions on allowing Chinese students to attend American universities. The Trump administration had recently begun to clamp down on the presence of Chinese nationals on US college campuses. 'We are getting a total of 55% tariffs, China is getting 10%. Relationship is excellent!' Trump wrote, without elaborating. Bloomberg quoted a White House official as saying that the agreement allows the US to charge a 55 per cent tariff on imported Chinese goods, which, crucially, includes a 10 per cent baseline 'reciprocal' tariff, a 20 per cent tariff for fentanyl trafficking, and a 25 per cent tariff reflecting pre-existing tariffs (imposed by Trump in his first term, that the Biden administration persisted with). China would charge a 10 per cent tariff on American imports, the official said. Though the details of the deal were still unclear, analysts predicted that China seems to have gained the upper-hand after its rare earth restrictions prompted US carmakers, including Ford Motor and Chrysler, to cut production. Significantly, Trump said a final deal is subject to approval from him and Chinese President Xi Jinping. Chinese state media said earlier Wednesday that Beijing had reached a 'framework' for an agreement with the US during talks in London, but there was no official response from China on Trump's subsequent claims on Truth Social. Earlier, both the negotiating sides said they had agreed in principle to a framework for dialling down trade tensions between the world's two biggest economies. After the meeting in London — the second time the two sides have met in the last couple of months, since Trump's sweeping tariff onslaught — there were indications of a reconciliation. What is beginning to get clearer after the second meeting is that this is perhaps not how the US imagined the trade war to unfold. China is beginning to dictate the direction of the bilateral talks, with the US almost seen as requesting for much-needed concessions on the resumption of supplies of critical inputs. In the first round of talks in Geneva, the US delegation led by Treasury Secretary Scott Bessent had asked the Chinese to cut its tariffs in tandem with theirs, primarily because the Americans were facing the heat back home from the early fallout of the high tariffs, including empty shelves at grocery stories and surging prices of daily use commodities. In London, the US side is learnt to have specifically asked the Chinese to 'suspend or remove' restrictions on rare earths magnets, which had forced a supply-chain crunch. The London meeting follows a call between Trump and Xi on June 5, which was initiated by the White House — the first call since Trump's reciprocal tariff announcement. After the London talks, US Commerce Secretary Howard Lutnick said the deal should result in restrictions on rare earth minerals and magnets 'being resolved'. 'We have reached a framework to implement the Geneva consensus… Once the Presidents approve it, we will then seek to implement it,' he said. 'The two sides have, in principle, reached a framework for implementing the consensus reached by the two heads of state during the phone call on June 5 and the consensus reached at the Geneva meeting,' the BBC quoted China's Vice Commerce Minister Li Chenggang as saying. Chinese export controls over rare earth minerals were high on the agenda of the meetings. While Beijing has not imposed an outright ban on the export of rare earth magnets, the process has been made very difficult; it could take a long time to source, posing shortage risks. Rare earth magnets, especially neodymium-iron-boron (NdFeB) magnets, are crucial for EV manufacturing. They provide the strong magnetic fields needed for efficient and powerful electric motors, including traction motors that drive EVs. These magnets also play a major role in other EV components like power steering systems, wiper motors and braking systems. China has a virtual stranglehold over these rare earth magnets. In May, talks held in Geneva led to a temporary truce after the tit-for-tat tariff increases by both sides, which led to duties that peaked at 145 per cent. Trump called the outcome of the talks in Switzerland a 'total reset', which brought US tariffs on Chinese products down to 30 per cent, while Beijing cut duties on US imports to 10 per cent. Both sides also agreed to a 90-day deadline to try to reach a trade deal. However, the US and China have since accused each other of breaching the deal. The US has said that Beijing has been dragging its feet on opening up exports of rare earth metals and magnets while the Chinese claim that Washington has restricted its access to American goods such as semiconductors and other related technologies linked to artificial intelligence. US Trade Representative Jamieson Greer had said China had failed to roll back restrictions on exports of rare earth magnets. In the run-up to this week's talks, the Chinese Ministry of Commerce said on Saturday that it had approved some applications for rare earth export licences. The problem for the US is that the Chinese side has wrested some advantage, especially by leveraging its strategy of weaponing its dominance in key sectors. Rare earth minerals and magnets is one such area, where the US is now desperate for concessions. Both sides have since claimed breaches on non-tariff pledges, but the Americans clearly seem more eager for a reconciliation, given the impact of the Chinese blockade on its key manufacturing sectors. These Chinese trade blockades are already impacting companies in other geographies. Hamamatsu-based small car maker Suzuki Motors, for instance, said last week it plans to suspend the production of its flagship Swift compact hatchback due to China's rare earth restrictions, becoming the first Japanese automaker to be impacted. There are similar worries among other manufacturing entities across the world, including in the US. Anil Sasi is National Business Editor with the Indian Express and writes on business and finance issues. He has worked with The Hindu Business Line and Business Standard and is an alumnus of Delhi University. ... Read More


Hans India
2 hours ago
- Hans India
Revolutionising access control in the age of intelligent security
In today's volatile digital world, where breaches are measured in billions and trust is as valuable as data, few cybersecurity leaders are making waves like Vamsy Priya Anne. Indian-born and globally recognised, Vamsy is redefining how modern enterprises secure their most critical asset-access. With a deep command of Identity Governance and Administration (IGA) platforms like Saviynt and SailPoint, she has architected Identity and Access Management (IAM) strategies for Fortune 500 firms. Her work has not only fortified digital boundaries but also elevated enterprise efficiency and regulatory compliance. 'Security isn't just a checkbox,' Vamsy says. 'It's a strategic foundation. When you manage access intelligently, you unlock both trust and transformation.' Her efforts have led to measurable business impact: a sharp decline in SLA breaches, a dramatic reduction in operational tickets, and streamlined access provisioning with rigorous security controls. These aren't just numbers; they're the outcome of strategic foresight grounded in technical precision. Described by senior leadership as a 'game-changing hire' and 'the best strategic decision' for their IAM programs, Vamsy consistently operates at the intersection of innovation and governance. She has led complex role mining efforts, enforced segregation of duties, and implemented least-privilege models that are both scalable and audit-ready. Yet, Vamsy's impact extends beyond traditional boundaries. Recognising the limitations of static Role-Based Access Control (RBAC), she has emerged as a vocal champion for AI-driven access governance. Her influential paper, Enhancing Role-Based Access Control through Artificial Intelligence and Machine Learning, lays out a pioneering vision for adaptive IAM systems. 'Tomorrow's access control will be intelligent and autonomous,' she explains. 'With AI, we can predict threats, detect anomalies in real time, and enforce policies dynamically, without slowing down the business.' Her leadership has already enabled enterprises to pilot machine learning models that analyse user behaviour, flag anomalies, and adjust access policies on the fly. These implementations have drastically reduced the threat surface and elevated organisational resilience. 'She doesn't just align with best practices, she redefines them,' remarks a global program director. 'Vamsy builds frameworks that others follow.' From C-suite strategy sessions to mentoring cross-functional teams, Vamsy remains a vital force in IAM centers of excellence and digital transformation programs. Her rare blend of technical depth, strategic insight, and business empathy makes her one of the defining cybersecurity leaders of this era. In a field where change is constant and risk is global, Vamsy Priya Anne stands out, not just for what she secures but for how she leads.