Latest news with #Passes
Independent Singapore
a day ago
- Business
- Independent Singapore
'Act broke, stay rich': Inside billionaire Lucy Guo's unflashy fortune
INTERNATIONAL: In today's world, where extravagance is frequently confused with accomplishment, Lucy Guo stands as an astonishing exception. At 30 years old, the co-founder of Scale AI and now chief executive of creator platform Passes has landed on Forbes' radar as the newest self-made lady magnate, purportedly surpassing Taylor Swift with a US$1.3 billion net worth, but then, don't assume a string of luxury cars and designer apparel attached to her name. Guo is redrafting the billionaire playbook with a way of life that's far more prudent than glitzy. Wealth without the wow factor According to a recent article featured on MSN, notwithstanding a stated 5% stake in Scale AI, assessed at $25 billion as of April, Guo lives a self-effacing lifestyle. Her apparel cabinet is bursting with pieces from fashion giant Shein, her Uber Eats orders are picked based on 'buy-one-get-one-free' deals, and she still rides in a not-so-new Honda Civic with her assistant as driver. 'I don't like wasting money,' she said, dismissing the notion that billions must be accompanied by Birkin bags or Patek Philippe watches. While she confesses to occasional extravagant expenses, such as flying business class for long trips or wearing a trendy dress to formal events, her everyday choices reflect her views on wealth. 'In terms of daily life, everything I wear is free or from Shein… I still literally buy buy-one-get-one-free on Uber Eats.' Status isn't in the spending Guo's understated existence isn't just about stinginess but a need to consciously reject the necessity of showing off wealth. 'Who you see typically wasting money on designer clothes, a nice car, etc., they're technically in the millionaire range,' she says. 'They feel a little bit insecure, so they feel the need to be flashy.' She acknowledges that she was once into that mentality herself, in what she dubs the 'middle ground' of success—wealthy, but still determined to acquire more. 'I do think that this is something I personally went through… And I think the reason most billionaires dress in a T-shirt, jeans, and hoodies is that they can.' According to the young billionaire, when you get to a certain level of success, the need to outwardly demonstrate it simply disappears. Now, her chant is simple: 'Act broke, stay rich.' Frugality, not performance Guo isn't alone in espousing a subdued aesthetic. From Warren Buffett to Rihanna, there's a rising movement of billionaires to lead 'normal' lives with unassuming pride. However, Guo thinks that many are doing it simply for show. 'In America, there is this 'we hate billionaires' situation… People want to show, 'look, I'm not your typical billionaire. I'm frugal.' However, for her, prudence isn't a PR move—it's for real. 'I fully admit it, I have gone through that spending spree when I was more insecure, and then you get to the point where you realize: 'Why am I wasting my money on something that doesn't matter?'' Her conclusion is straightforward: status symbols don't define wealth; freedom does. With her financial standing firmly in the billions with nothing left to prove, Guo is content in her Shein get-up, swapping the expensive sports car for a Civic, and living a billionaire's life that appears a lot more commonplace than anyone would expect, and that, conceivably, is what makes her amazing.
Yahoo
2 days ago
- Business
- Yahoo
Scale AI's 30-year-old billionaire founder still shops at Shein and pulls up to work in a Honda Civic: ‘Act broke, stay rich,' Lucy Guo says
Billionaire college dropout Lucy Guo is reportedly the youngest self-made woman on the planet—knocking Taylor Swift off the top spot. But even with a $1.3 billion reported net worth, the 30-year-old cofounder of Scale AI tells Fortune she still pinches the pennies and shops at Shein. Despite founding and retaining a $1.3 billion stake in an AI unicorn, you won't catch Lucy Guo wasting her billions on a lavish lifestyle to match her new status. 'I don't like wasting money,' the frugal 30-year-old tells Fortune. Of course, sometimes Guo will splurge—like if she's got a 16 hour flight to endure, she says she'll opt for business class. And there's the odd designer dress hanging in her closet for when she needs it. 'But in terms of like daily life, my assistant just drives me in a pretty old Honda Civic. I don't care,' she says. 'Everything I wear is free or from Shein… Some of them aren't going to be that great quality, but there's always like two pieces or so that really work out, and I just wear them every day,' the billionaire founder laughs. 'I still literally buy buy-one-get-one-free on Uber Eats.' Guo, who is currently the founder and CEO of the creator community platform Passes, adds that a quote she stumbled on on the morning of our interview perfectly summarises her approach: 'It's like, act broke, stay rich.' Guo hit the jackpot after the AI startup she cofounded, Scale AI, was reportedly valued at $25 billion in April as part of a share sale. Although she left the company in 2018 (two years after founding it), the 5% stake she held onto is now worth an estimated $1.2 billion—making the millennial one of just 5 female billionaires under 40 according to Forbes' latest ranking, including Rihanna and Anthropic's cofounder Daniela Amodei. It's why Guo no longer feels the need to prove her wealth with a Patek Philippe everyday watch, or a Hermès Birkin to carry her laptop. That, she says, is the behaviour of millionaires. 'Who you see typically wasting money on, designer clothes, a nice car, et cetera, they're technically in the millionaire range,' Guo explains. 'All their friends are multimillionaires, or billionaires and they feel a little bit insecure, so they feel the need to be flashy to show other people, 'look, I'm successful.'' 'I'm not showing off to anyone, right?' Indeed, for our interview, she's makeup-free, dressed down, and could pass for any other millennial. But earlier in her career, Guo admits she, too, may have been dripping in designer gear. 'I do think that this is actually something that I personally went through, and I think a lot of people go through when you're in that middle ground of you're successful, but not as successful as you want to be.' 'And I think the reason most billionaires dress in a t-shirt, jeans, hoodies, is that they can. They don't need to be in the suit 24/7 because they're done proving themselves to the rest of the world. The rest of the world is just sucking up to them,' she adds. 'And I think that's kind of how I like feel, where I'm past that hump. I don't really have to prove myself to anyone.' 'No one's going to look at me and point at me like, 'Haha, she's so broke' when I'm pulling up in a Honda Civic because whatever, it doesn't matter.' Guo's not the only ultra-wealthy to admit she's 'pretty frugal.' The world's most powerful have been boasting about their quiet luxury lifestyle for some time now. They've been donning logo-less angora wool jumpers and linen trousers that could be from anywhere to the unassuming eye. Experts say their wealthy peers can tell who is wearing Zara from who is in Loro Piana, but the point is to resemble people in lower tax brackets. Others, like KeKe Palmer and Warren Buffet, have been less subtle about how they lead very normal lives, despite their huge net worths—with the world's most famous investor going as far to call himself 'cheap'. But in Guo's eyes, she's one of the few who actually are as cheap as they say they are. 'I think that people want to fit into society. Specifically in America, I do think there is a 'we hate billionaires situation.' So because of that, people want to show, 'look, I'm not your typical billionaire. I'm frugal,'' she explains. 'I'm not saying it to be like, 'let me show you the world that I'm not like other billionaires,' Guo adds. 'I fully admit it, I have gone through that spending spree when I was more insecure, and I felt like I needed to show something.' And those who really aren't spending their millions? They aren't doing it to be relatable, she says it's because like her they had their flashy era—then reached the inevitable realisation: 'Why am I wasting my money on something that doesn't matter?' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Scale AI's 30-year-old billionaire founder still shops at Shein and pulls up to work in a Honda Civic: ‘Act broke, stay rich,' Lucy Guo says
Billionaire college dropout Lucy Guo is reportedly the youngest self-made woman on the planet—knocking Taylor Swift off the top spot. But even with a $1.3 billion reported net worth, the 30-year-old cofounder of Scale AI tells Fortune she still pinches the pennies and shops at Shein. Despite founding and retaining a $1.3 billion stake in an AI unicorn, you won't catch Lucy Guo wasting her billions on a lavish lifestyle to match her new status. 'I don't like wasting money,' the frugal 30-year-old tells Fortune. Of course, sometimes Guo will splurge—like if she's got a 16 hour flight to endure, she says she'll opt for business class. And there's the odd designer dress hanging in her closet for when she needs it. 'But in terms of like daily life, my assistant just drives me in a pretty old Honda Civic. I don't care,' she says. 'Everything I wear is free or from Shein… Some of them aren't going to be that great quality, but there's always like two pieces or so that really work out, and I just wear them every day,' the billionaire founder laughs. 'I still literally buy buy-one-get-one-free on Uber Eats.' Guo, who is currently the founder and CEO of the creator community platform Passes, adds that a quote she stumbled on on the morning of our interview perfectly summarises her approach: 'It's like, act broke, stay rich.' Guo hit the jackpot after the AI startup she cofounded, Scale AI, was reportedly valued at $25 billion in April as part of a share sale. Although she left the company in 2018 (two years after founding it), the 5% stake she held onto is now worth an estimated $1.2 billion—making the millennial one of just 5 female billionaires under 40 according to Forbes' latest ranking, including Rihanna and Anthropic's cofounder Daniela Amodei. It's why Guo no longer feels the need to prove her wealth with a Patek Philippe everyday watch, or a Hermès Birkin to carry her laptop. That, she says, is the behaviour of millionaires. 'Who you see typically wasting money on, designer clothes, a nice car, et cetera, they're technically in the millionaire range,' Guo explains. 'All their friends are multimillionaires, or billionaires and they feel a little bit insecure, so they feel the need to be flashy to show other people, 'look, I'm successful.'' 'I'm not showing off to anyone, right?' Indeed, for our interview, she's makeup-free, dressed down, and could pass for any other millennial. But earlier in her career, Guo admits she, too, may have been dripping in designer gear. 'I do think that this is actually something that I personally went through, and I think a lot of people go through when you're in that middle ground of you're successful, but not as successful as you want to be.' 'And I think the reason most billionaires dress in a t-shirt, jeans, hoodies, is that they can. They don't need to be in the suit 24/7 because they're done proving themselves to the rest of the world. The rest of the world is just sucking up to them,' she adds. 'And I think that's kind of how I like feel, where I'm past that hump. I don't really have to prove myself to anyone.' 'No one's going to look at me and point at me like, 'Haha, she's so broke' when I'm pulling up in a Honda Civic because whatever, it doesn't matter.' Guo's not the only ultra-wealthy to admit she's 'pretty frugal.' The world's most powerful have been boasting about their quiet luxury lifestyle for some time now. They've been donning logo-less angora wool jumpers and linen trousers that could be from anywhere to the unassuming eye. Experts say their wealthy peers can tell who is wearing Zara from who is in Loro Piana, but the point is to resemble people in lower tax brackets. Others, like KeKe Palmer and Warren Buffet, have been less subtle about how they lead very normal lives, despite their huge net worths—with the world's most famous investor going as far to call himself 'cheap'. But in Guo's eyes, she's one of the few who actually are as cheap as they say they are. 'I think that people want to fit into society. Specifically in America, I do think there is a 'we hate billionaires situation.' So because of that, people want to show, 'look, I'm not your typical billionaire. I'm frugal,'' she explains. 'I'm not saying it to be like, 'let me show you the world that I'm not like other billionaires,' Guo adds. 'I fully admit it, I have gone through that spending spree when I was more insecure, and I felt like I needed to show something.' And those who really aren't spending their millions? They aren't doing it to be relatable, she says it's because like her they had their flashy era—then reached the inevitable realisation: 'Why am I wasting my money on something that doesn't matter?' This story was originally featured on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
2 days ago
- Business
- Time of India
Who is Lucy Guo? Meet the youngest self-made female billionaire who surpassed Taylor Swift
Know about Lucy Guo: As the youngest self-made female millionaire, Lucy Guo has dethroned music icon Taylor Swift and swept the IT and business worlds. Guo, a former Carnegie Mellon college dropout, co-founded Scale AI, an AI data-labelling startup currently valued at an incredible $25 billion. Her wealth was fueled by her 5 per cent interest in the company. Her story, which includes coding in Fremont as a child, receiving a Thiel Fellowship, and starting new businesses like Passes, combines creativity, tenacity, and controversy. Her ascent is a testament to the revolutionary potential of the AI boom and the increasing influence of women in technology. One issue still stands as critics and headlines swirl: What can aspiring businesspeople take away from Lucy Guo's quick rise? Who is Lucy Guo? Meet Lucy Guo, a 30-year-old internet entrepreneur who recently overtook Taylor Swift on Forbes' most recent list to become the youngest self-made female billionaire in history. American engineer and social media influencer Lucy Guo, a true embodiment of entrepreneurial spirit, co-founded Scale AI in 2016 and was let go in 2018. She started Passes, a rival to OnlyFans, in 2022. Guo's ownership of Scale AI has made her the youngest self-made female billionaire as of 2025. She spent several years' living as a digital nomad' before purchasing a $6.7 million Miami apartment in 2020, where her parties led to disputes with nearby residents. In 2022, the New York Post called her Miami's most popular party girl. Lucy Guo's education qualifications Guo was brought up by Chinese immigrant parents who were electrical engineers in Fremont, California. She started learning to code at a young age. She taught herself programming as a teenager and made money by creating bots for the online game Neopets and making money off of the in-game items. After being chosen for the Thiel Fellowship, a two-year $100,000 stipend that encourages young people to explore entrepreneurial endeavours rather than finish their education, Guo left Carnegie Mellon University in 2014, where she had been enrolled to study computer science. Lucy Guo's net worth According to Economic Times data, Guo's estimated 2025 net worth is $1.3 billion. Guo's substantial profits as a software entrepreneur and social media influencer account for the majority of her 2025 net worth. Also Read: Who was Bill Atkinson? The Man who helped Steve Jobs build the Macintosh computers, dies at 74 Lucy Guo's career Guo joined Quora, where she met Alexandr Wang, following stints at Facebook and Snapchat, where she was the first female designer for the firm. In 2016, they co-founded Scale AI together. Wang was the CEO, and Guo oversaw production design and operations. He was 19, and she was 21 Guo kept a 5% ownership in the business, although she quit following a rumoured argument with Wang only two years later. Her equity is valued at approximately $1.2 billion, as Scale AI is currently approaching a $25 billion valuation. She is the only female under-40 billionaire on Forbes' list, yet the majority of her wealth came from a business she no longer works for. Guo started Backend Capital, a startup fund dedicated to helping elite engineers after Scale AI. She made a comeback to the business scene in 2022 when she established Passes, a platform for content creation marketed as a family-friendly substitute for OnlyFans. By 2024, the platform generated $40 million in a Series A round and lets creators keep up to 90% of their profits. Passes is currently involved in a legal dispute, nevertheless. According to a class action lawsuit filed in February 2025, which names two of the platform's executives and cites Guo's alleged role in circumventing internal safety controls, the company failed to stop the spread of child pornography. Guo has refuted every accusation, referring to the case as "a defamatory attempt" to coerce her and the business into paying $15 million. On Forbes' list of America's Richest Self-Made Women, Swift is currently rated 21st, and Guo is currently ranked No. 26. With a net worth of $22.3 billion, co-founder of ABC Supply Diane Hendricks is the richest person on the list.
Time of India
3 days ago
- Business
- Time of India
Who is Lucy Guo, the woman techie who has beat Taylor Swift as world's youngest self-made billionaire and the controversy that follows her
Lucy Guo The world now has a new youngest self-made woman billionaire and she is a techie. Carnegie Mellon University dropout Lucy Guo has claimed the title of the world's youngest self-made billionaire, surpassing pop icon Taylor Swift , according to a recent Forbes report. Guo's meteoric rise in the tech industry has positioned her as a trailblazer, highlighting the growing influence of women in entrepreneurship. From Pop Star to Tech Star: A New Billionaire Emerges Taylor Swift, previously recognized as the youngest self-made billionaire, has been dethroned by 30-year-old Lucy Guo. Swift, known for her chart-topping hits like Love Story and her business acumen in the music industry, held the title due to her massive earnings from music, tours, and endorsements. However, Guo's innovative contributions to the tech world have now eclipsed Swift's financial milestone. T he Rise of Lucy Guo: Founding Scale AI Lucy Guo's ascent to billionaire status is largely attributed to her 5% stake in Scale AI , a data annotation firm she co-founded in 2016 with business partner Alexandr Wang. The company specializes in providing labeled data to train artificial intelligence applications, serving major clients in industries like autonomous vehicles, healthcare, and e-commerce. Forbes estimates Guo's net worth at $1.3 billion, driven by Scale AI's soaring valuation. Guo is optimistic about the evolving landscape of entrepreneurship. In an interview with Forbes, she stated, 'I think we're about to see a lot more entrepreneurs be women and valuations grow at a tremendous rate. I wouldn't be surprised if someone else took the title next year, but it's really exciting to see.' Her confidence reflects a broader trend of increasing diversity in the tech and business sectors. A Billionaire Who Still Looks for 50% Off Deals Despite her billionaire status, Guo maintains a surprisingly modest lifestyle. 'I still live a very frugal lifestyle,' she shared with Forbes. 'For lunch, I get 'buy one get one free' all the time or, like, the 50%-off deals. But the one day I decide I need a private jet, maybe I'll sell some shares, but at the moment I'm very happy flying commercial.' This grounded approach sets her apart in a world often associated with extravagant spending. A Taylor Swift fan Addressing her new title, Guo expressed admiration for Taylor Swift, noting, 'She has always struck me as someone that's very pro-woman and wants other people to win. I am a huge fan of her; I think she's an icon.' Guo's comments highlight a mutual respect between the two, despite their competition for the billionaire title. Lucy Guo's OnlyFans' Rival Passes Controversy Beyond Scale AI, Guo has ventured into other entrepreneurial pursuits, including co-founding Passes, a platform positioned as a rival to OnlyFans. Passes aims to empower content creators by offering a subscription-based model. However, the platform faced scrutiny earlier this year when a content creator filed a lawsuit alleging that Passes distributed sexually abusive material involving her while she was underage. The controversy has raised questions about the platform's content moderation practices, though Guo has not publicly commented on the issue. A New Era for Women in Business Guo's achievement marks a significant moment for women in tech and entrepreneurship. Her success with Scale AI and her forward-thinking approach to business underscore the potential for women to lead in high-growth industries. As Guo herself predicts, the coming years may see even more women breaking barriers and claiming top spots in the billionaire rankings. With her wealth, influence, and innovative mindset, Lucy Guo is poised to continue shaping the tech industry. Whether through Scale AI, Passes, or new ventures, her journey as a self-made billionaire is just beginning. As she told Forbes, the rapid pace of change in entrepreneurship means the title of youngest billionaire may soon pass to another visionary—potentially another woman pushing the boundaries of what's possible. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
