Lucy Guo, 30, noticed her web price attain $1.3 billion in April. However the entrepreneur, who’s now the world’s youngest feminine billionaire, is dedicated to discovering one of the best offers — even when she will afford to pay full value.
Guo informed CNBC on Wednesday that she stays “frugal,” admitting that she has performed issues like reserve flights on the airport and cancel them later so she may have a meal without cost within the Amex lounge. She additionally rides UberX, the budget-friendly, low-cost model of Uber, and compares costs for meals earlier than shopping for one thing to eat. Her closet consists primarily of $10 items from shops like Shein.
“I am frugal at some issues, and I spend extra on different issues,” Guo informed CNBC.
Lucy Guo. Picture by Gonzalo Marroquin/Getty Photos for Passes
Guo’s fortune was constructed through Scale AI, the AI knowledge labeling startup she co-founded with Alexandr Wang in 2016. Meta made a $14.3 billion funding in Scale AI in June, buying 49% of the startup and permitting the corporate to attain a $29 billion valuation.
Although Guo left Scale AI in 2018, she has held onto a virtually 5% stake within the firm, which has grown to be price $1.25 billion. Regardless of her billionaire standing, Guo says that her life has remained the identical.
“My life pre-money and post-money, it hasn’t actually modified that a lot,” Guo informed CNBC Make It earlier this month.
Whereas Guo could also be frugal with regards to her closet, her meals, and her rides to work, she nonetheless has the means to spend lavishly in key areas with out fascinated by the price.
For instance, with regards to houses, Guo purchased a newly constructed mansion in L.A.’s Hollywood Hills for $29.5 million earlier this yr. She acquired it at a reduction: The 5-bedroom, 13,500-square-foot mansion was first listed for $43 million in January 2024.
Guo can be the proprietor of a $6.7 million condominium in Florida, which she bought in 2021, in addition to one other L.A. residence, which she purchased for $4.2 million final yr.
Guo moreover owns a Ferrari in a classic rose colour, which she admits was a “splurge.” A Ferrari can value upwards of $230,950. Relating to transportation, she additionally generally flies through non-public jet to skip the strains on the airport.
Guo is a school dropout who studied laptop science and human-computer interactions for 2 years at Carnegie Mellon College, per her LinkedIn. She left to pursue a Thiel Fellowship, which rewards younger entrepreneurs for following non-traditional paths and selecting to construct a enterprise over going to school. Thiel Fellows obtain a $200,000 grant and entry to a community of founders to develop their corporations.
Guo nonetheless places in lengthy hours at her startup, the creator commerce and monetization platform Passes, which she based in 2022. Passes has raised a complete of $66 million throughout three funding rounds. She says that the traditional working day for her stretches twelve hours, from 9 a.m. to 9 p.m.
“9 a.m. to 9 p.m., to me, that is nonetheless work-life steadiness,” Guo informed CNBC.
Lucy Guo, 30, noticed her web price attain $1.3 billion in April. However the entrepreneur, who’s now the world’s youngest feminine billionaire, is dedicated to discovering one of the best offers — even when she will afford to pay full value.
Guo informed CNBC on Wednesday that she stays “frugal,” admitting that she has performed issues like reserve flights on the airport and cancel them later so she may have a meal without cost within the Amex lounge. She additionally rides UberX, the budget-friendly, low-cost model of Uber, and compares costs for meals earlier than shopping for one thing to eat. Her closet consists primarily of $10 items from shops like Shein.
“I am frugal at some issues, and I spend extra on different issues,” Guo informed CNBC.
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