Forbes Unveils the Hall of Shame Exposing Questionable Figures on its Infamous 30 Under 30 Lists

Forbes Creates a Hall of Shame for Questionable Individuals Featured on their 30 Under 30 Lists

Forbes’ Hall of Shame: 30 Under 30 Picks That Crashed and Burned

In the exhilarating world of finance, success stories can turn into cautionary tales faster than you can say “stock market crash.” Forbes’ 30 Under 30 lists, renowned for celebrating young achievers, have had their fair share of questionable choices. Let’s take a peek at the “hall of shame” – a rogues’ gallery where disappointed dreams come to mingle.

The list of tarnished stars includes Sam Bankman-Fried, the FTX cofounder once hailed as a finance prodigy. With an estimated net worth of over $26 billion and comparisons to Mark Zuckerberg, Bankman-Fried seemed invincible. That is, until a CoinDesk report revealed nefarious ties between FTX and its sister trading firm, Alameda. The empire crumbled, and Bankman-Fried found himself convicted of not one, but seven counts of fraud and conspiracy. Ouch.

Joining Bankman-Fried in the hall of shame is Caroline Ellison, former co-CEO of Alameda and Forbes’ finance class of 2022. Testifying against her former colleague, Ellison added a touch of irony to her downfall.

But wait, there’s more! Remember Martin Shkreli, the infamous “pharma bro”? He captivated the world’s attention by skyrocketing the price of a life-saving drug. Shkreli’s notorious deeds earned him a spot on Forbes’ 30 Under 30 list in 2013. Fast forward a decade, and he makes a comeback on the hall of shame for unrelated charges, including misrepresenting financials and stock manipulation. This ain’t no Hollywood movie, folks.

Now let’s turn our attention to Charlie Javice, the mastermind behind Frank, a startup that promised to help college students secure financial aid. With a supposed user base of 4.25 million, the company was snagged by JP Morgan Chase for a hefty $175 million. Or so they thought. In reality, Frank’s user count was a measly 250,000, leading to fraud and conspiracy charges against Javice. Looks like Frank wasn’t so transparent after all.

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Nate Paul, once a real estate tycoon, saw his billion-dollar empire crumble in the face of allegations. Accused of lying to lenders, Paul became entangled in a web of fraud and conspiracy. Talk about a real estate rollercoaster ride.

And who can forget Lucas Duplan, the founder of Clinkle, a fintech firm that raised a mind-boggling $30 million in its seed round? With famed investors like Peter Thiel and Andreesen Horowitz backing him, Duplan seemed destined for greatness. Alas, Clinkle’s ambitious plan for mobile payments fizzled out, leaving employees disgruntled and investors clamoring for their money back. Mobile payments? More like mobile disappointments.

But the hall of shame isn’t exclusively reserved for finance enthusiasts. Enter Cody Wilson, the law student turned gun rights activist. Wilson made waves by posting blueprints online that allowed anyone to 3D print a functional gun. While this audacious move may have thrilled some, it landed Wilson in hot water. In 2019, he became a registered sex offender after paying $500 for intimate relations with an underage girl. Yikes.

Last but not least, we have Steph Korey, the co-founder of Away, a luggage company. The retail & ecommerce list of 2018 celebrated her accomplishments, but grievances rose to the surface when reports emerged of Korey bullying coworkers and enforcing a strenuous workload. Eventually, she bowed out, ending her stint at Away.

Now, dear readers, this cautionary tale of shattered dreams and fallen stars serves as a reminder that success can be as fleeting as GameStop’s stock price. So, let us learn from their mistakes and strive to build sustainable empires, avoiding the pitfalls that lurk around every corner. And remember, in the dynamic world of finance, it’s better to be recognized for your wise investments than to end up on the hall of shame.

Let us know in the comments if you have any more tales of ambition turned sour. And remember, it’s okay to dream big, just be sure to double-check your moral compass along the way!

• Sam Bankman-Fried