Latest news with #ThielFellowship
Sydney Morning Herald
a day ago
- Business
- Sydney Morning Herald
The 30-year-old billionaire who has taken Taylor Swift's crown
'They stopped talking to me for a while – which is fine,' she said. 'I get it, because, you know, the immigrant mentality was like, 'we sacrificed everything, we came to a new country, left all our relatives behind, to try to give our kids a better future'. 'I think they viewed it as a sign of disrespect. They're like, 'wow, you don't appreciate all the sacrifices we did for you, and you don't love us'. So they were extremely hurt.' They have since reconciled. In her first year of college, Guo took part in hackathons and coding competitions, helping her to realise that 'you can just create a startup out of like, nothing'. She was awarded a Thiel Fellowship, which provides recipients with $US200,000 over two years to support them to drop out of university and pursue other work, such as launching a startup. The fellowship is funded by Peter Thiel, the former PayPal chief executive. Thiel, who donated $US1.25 million to Donald Trump's 2016 presidential campaign, has been an enthusiastic supporter of entrepreneurship, and also co-founded Palantir, the data analytics and AI software firm now worth billions. Loading Guo initially tried to found a company based around people selling their home cooking to others. While the business did well financially, it faced food safety problems and ultimately failed. After stints at Quora, the question-and-answer website, and Snapchat, Guo launched Scale AI with co-founder Alexandr Wang in 2016. The company labels the data used to develop applications for AI. The timing was perfect: OpenAI had been founded a year earlier and uses Scale AI's technology to help train ChatGPT, the generative AI chatbot. OpenAI is one of the leading lights of the new AI boom and has a valuation of $US300 billion. Like Guo, its founder and boss Sam Altman is now a billionaire. Guo left Scale AI only two years after helping to found it – 'ultimately there was a lot of friction between me and my co-founder' – but retained her stake, a decision that helped propel her into the ranks of the world's top 1 per cent. 'It's not like I'm flying PJs [private jets] everywhere. Just occasionally, just when other people pay for them. I'm kidding – sometimes I pay for them,' Guo said, laughing. After leaving Scale AI, Guo went on to set up her own venture capital fund, Backend Capital, which has so far invested in more than 100 startups. She has also run HF0, an AI business accelerator. Loading Guo is particularly passionate about supporting female entrepreneurs: 'If you take two people that are exactly the same, male and female, they come out of MIT as engineers, I think that subconsciously every investor thinks the male is going to do better, which sucks.' However, she is demanding of companies she backs. 'If you care about work-life balance, go work at Google, you'll get paid a high salary and you'll have that work-life balance,' she said. 'If you're someone that wants to build a startup, I think it's pretty unrealistic to build a venture-funded startup with work-life balance.' 'Number one party girl' Guo's work-life balance has itself been the subject of tabloid attention. After leaving Scale AI she was dubbed 'Miami's number one party girl' by the New York Post for raucous celebrations held at her multimillion-dollar flat in the city's One Thousand Museum tower, which counts David Beckham among its residents. One 2022 party involved a lemur and snake rented from the Zoological Wildlife Foundation, and led to the building's homeowners' association sending a warning letter. While she still owns her residence in Miami, Guo lives in Los Angeles. Alongside investing, Guo has started a new business, Passes, which lets users sell access to themselves online through paid direct messages, livestreaming and subscriptions. Creators on the platform include TikTok influencer Emma Norton, actor Bella Thorne and the music producer Kygo. It is pitched as a competitor to Patreon, a platform that lets musicians and artists sell products and services directly to fans. However, the business also occupies the same space as OnlyFans, the platform known for hosting adult videos and images, and Passes has faced claims that it knowingly distributed sexually explicit material featuring minors. Loading A legal complaint filed by OnlyFans model Alice Rosenblum claimed the platform produced, possessed and sold sexually explicit content featuring her when she was underage. The claims are strongly denied by the company. A spokesman for Passes said: 'This lawsuit is part of an orchestrated attempt to defame Passes and Guo, and these claims have no basis in reality. As explained in the motion to dismiss filed on April 28, Guo and Passes categorically reject the baseless allegations made against them in the lawsuit.' Scrutiny of Passes and Guo herself is only likely to intensify following her crowning by Forbes. However, she is sceptical that she will hold on to the title of youngest self-made female billionaire for long.
The Age
a day ago
- Business
- The Age
The 30-year-old billionaire who has taken Taylor Swift's crown
'They stopped talking to me for a while – which is fine,' she said. 'I get it, because, you know, the immigrant mentality was like, 'we sacrificed everything, we came to a new country, left all our relatives behind, to try to give our kids a better future'. 'I think they viewed it as a sign of disrespect. They're like, 'wow, you don't appreciate all the sacrifices we did for you, and you don't love us'. So they were extremely hurt.' They have since reconciled. In her first year of college, Guo took part in hackathons and coding competitions, helping her to realise that 'you can just create a startup out of like, nothing'. She was awarded a Thiel Fellowship, which provides recipients with $US200,000 over two years to support them to drop out of university and pursue other work, such as launching a startup. The fellowship is funded by Peter Thiel, the former PayPal chief executive. Thiel, who donated $US1.25 million to Donald Trump's 2016 presidential campaign, has been an enthusiastic supporter of entrepreneurship, and also co-founded Palantir, the data analytics and AI software firm now worth billions. Loading Guo initially tried to found a company based around people selling their home cooking to others. While the business did well financially, it faced food safety problems and ultimately failed. After stints at Quora, the question-and-answer website, and Snapchat, Guo launched Scale AI with co-founder Alexandr Wang in 2016. The company labels the data used to develop applications for AI. The timing was perfect: OpenAI had been founded a year earlier and uses Scale AI's technology to help train ChatGPT, the generative AI chatbot. OpenAI is one of the leading lights of the new AI boom and has a valuation of $US300 billion. Like Guo, its founder and boss Sam Altman is now a billionaire. Guo left Scale AI only two years after helping to found it – 'ultimately there was a lot of friction between me and my co-founder' – but retained her stake, a decision that helped propel her into the ranks of the world's top 1 per cent. 'It's not like I'm flying PJs [private jets] everywhere. Just occasionally, just when other people pay for them. I'm kidding – sometimes I pay for them,' Guo said, laughing. After leaving Scale AI, Guo went on to set up her own venture capital fund, Backend Capital, which has so far invested in more than 100 startups. She has also run HF0, an AI business accelerator. Loading Guo is particularly passionate about supporting female entrepreneurs: 'If you take two people that are exactly the same, male and female, they come out of MIT as engineers, I think that subconsciously every investor thinks the male is going to do better, which sucks.' However, she is demanding of companies she backs. 'If you care about work-life balance, go work at Google, you'll get paid a high salary and you'll have that work-life balance,' she said. 'If you're someone that wants to build a startup, I think it's pretty unrealistic to build a venture-funded startup with work-life balance.' 'Number one party girl' Guo's work-life balance has itself been the subject of tabloid attention. After leaving Scale AI she was dubbed 'Miami's number one party girl' by the New York Post for raucous celebrations held at her multimillion-dollar flat in the city's One Thousand Museum tower, which counts David Beckham among its residents. One 2022 party involved a lemur and snake rented from the Zoological Wildlife Foundation, and led to the building's homeowners' association sending a warning letter. While she still owns her residence in Miami, Guo lives in Los Angeles. Alongside investing, Guo has started a new business, Passes, which lets users sell access to themselves online through paid direct messages, livestreaming and subscriptions. Creators on the platform include TikTok influencer Emma Norton, actor Bella Thorne and the music producer Kygo. It is pitched as a competitor to Patreon, a platform that lets musicians and artists sell products and services directly to fans. However, the business also occupies the same space as OnlyFans, the platform known for hosting adult videos and images, and Passes has faced claims that it knowingly distributed sexually explicit material featuring minors. Loading A legal complaint filed by OnlyFans model Alice Rosenblum claimed the platform produced, possessed and sold sexually explicit content featuring her when she was underage. The claims are strongly denied by the company. A spokesman for Passes said: 'This lawsuit is part of an orchestrated attempt to defame Passes and Guo, and these claims have no basis in reality. As explained in the motion to dismiss filed on April 28, Guo and Passes categorically reject the baseless allegations made against them in the lawsuit.' Scrutiny of Passes and Guo herself is only likely to intensify following her crowning by Forbes. However, she is sceptical that she will hold on to the title of youngest self-made female billionaire for long.
NDTV
2 days ago
- Business
- NDTV
30-Year-Old Billionaire Still Shops At Shein, Drives Honda Civic: "I Don't Like Wasting Money"
Lucy Guo, the 30-year-old cofounder of Scale AI, recently dethroned Taylor Swift to become the world's youngest self-made woman billionaire. According to Forbes, her net worth is estimated to be around $1.25 billion, thanks to her significant stake in Scale AI, which was valued at $25 billion in a recent tender offer. Despite her vast wealth, Ms Guo lives modestly, favouring free clothes, fast fashion, and the occasional designer dress. She's also been spotted driving a Honda Civic and flying commercial. "I don't like wasting money,' the 30-year-old told Fortune. "In terms of like daily life, my assistant just drives me in a pretty old Honda Civic. I don't care. 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. I still literally buy buy-one-get-one-free on Uber Eats," she added. Guo, now the founder of OnlyFans competitor Passes, also shared a quote that resonates with her approach: "Act broke, stay rich." As one of the few female billionaires under 40, Ms Guo believes that flashy displays of wealth are often a sign of insecurity, typically seen in millionaires trying to prove their success. In contrast, she prefers a low-key lifestyle, dressing down and avoiding extravagant spending. "Who you see typically wasting money on, designer clothes, a nice car, et cetera, they're technically in the millionaire range. 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?" she explained. Ms Guo reflected on her past, noting that many people go through a phase where they're successful but still seeking validation. She believes that billionaires often dress casually because they've reached a point where they no longer need to prove themselves to others. They're confident in their success and don't feel the need to flaunt it. Guo feels she's reached a similar stage, where she's past the need for external validation. "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," she added. Who is Lucy Guo? Lucy Guo is an American entrepreneur, software engineer, and social media influencer born on October 14, 1994, in San Francisco, California. Raised in Fremont, California, by Chinese immigrant parents who were electrical engineers, Guo showed an early aptitude for technology, teaching herself to code in second grade and building websites by sixth grade. She attended Carnegie Mellon University to study computer science but dropped out in 2014 after receiving the Thiel Fellowship, a $100,000 grant to pursue entrepreneurial ventures. She co-founded Scale AI in 2016 at age 21 alongside Alexandr Wang, who was 19 at the time. Notably, Scale AI provides high-quality training data for AI applications. Though Ms Guo was fired in 2018 due to internal differences, she retained her equity, which significantly contributed to her wealth when the company's valuation reached $25 billion in 2025. Before finding Scale AI, Ms Guo worked as a product designer at question-and-answer firm Quora, where she met Mr Wang. She then left Quora and worked briefly at Snapchat doing product design before she and Mr Wang decided to cofound Scale AI in 2016. After leaving Scale, she started a small venture capital firm called Backend Capital to invest in early-stage companies. Then, in 2022, she started her own business called Passes, a platform for creators and celebrities to connect with fans, who pay for online chats and videos.
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.
Daily Tribune
3 days ago
- Business
- Daily Tribune
Who Is Lucy Guo, the Youngest Self-Made Female Billionaire in the World?
Lucy Guo, a 30-year-old tech entrepreneur and investor, has become the world's youngest self-made female billionaire, surpassing music icon Taylor Swift in the process. With an estimated net worth of $1.3 billion, Guo's rise to the top is a remarkable tale of innovation, risk-taking, and persistence. Born in Fremont, California to Chinese immigrant parents, Guo showed an early aptitude for technology. As a child, she taught herself to code, eventually earning money by developing bots for online games. She enrolled at Carnegie Mellon University to study computer science but left after being selected for the prestigious Thiel Fellowship, which encourages young talents to forgo formal education in favor of entrepreneurial pursuits. Guo's breakthrough came in 2016 when she co-founded Scale AI, a data-labeling company that became foundational to the growth of artificial intelligence technologies. Although she left the company in 2018 following internal disagreements, Guo retained nearly 5% equity. With Scale AI's recent valuation reaching $25 billion, that stake alone accounts for a significant portion of her wealth. After her departure from Scale AI, Guo co-founded Backend Capital, a venture capital firm that has backed several successful startups. She then launched Passes in 2022, a creator-focused platform that helps influencers monetize fan interactions using AI-driven features. The company has since attracted high-profile names and raised $50 million across multiple funding rounds, achieving a valuation of $150 million. Despite her accomplishments, Guo has faced controversy. Passes is currently the subject of a class-action lawsuit involving allegations of inappropriate content monetization. The company has firmly denied all accusations, calling the claims baseless. Guo is known for her vibrant lifestyle and tireless work ethic, often working from early morning until midnight. She credits her productivity to efficiency, team collaboration, and regular exercise. Despite her financial success, Guo insists she doesn't feel she has 'made it,' and continues to seek new ways to innovate and lead. From college dropout to billionaire tech founder, Lucy Guo's story is emblematic of a new generation of entrepreneurs reshaping the global economy — not only through technology but also through bold, often unconventional paths to success.
