Forbes’ 30 Under 30 “Hall of Shame”

Forbes, renowned for its “30 Under 30” lists that spotlight young achievers, has taken an unusual step by compiling a “hall of shame.” This compilation highlights select individuals from these lists whose subsequent actions have cast a shadow over their early acclaim, mostly from the finance sector.

At the forefront is Sam Bankman-Fried, the former FTX co-founder, once valued at over $26 billion and hailed as a financial wunderkind. His downfall, marked by FTX’s bankruptcy and his conviction for fraud and conspiracy, serves as a startling contrast to his previous Forbes acclaim. Joining him in this ignominious hall is Caroline Ellison, former co-CEO of Alameda and a 2022 Forbes finance listee, who also faced legal repercussions in the FTX fallout.

Martin Shkreli, another notable figure, dubbed the “pharma bro,” found his way onto the Forbes list in 2013. His infamy peaked when he dramatically increased the price of a life-saving medication, an action followed by a prison sentence for financial fraud in a separate case.

The hall includes others like Charlie Javice, founder of Frank, who allegedly misled JP Morgan Chase about her startup’s user numbers, and Nate Paul, a once-billion-dollar-valued real estate investor who faced fraud charges.

Lucas Duplan, founder of Clinkle, raised significant capital for a mobile payments venture that never materialized, leading to a business implosion. Outside of finance, Cody Wilson, known for his advocacy of 3D printed guns, faced legal consequences for sexual misconduct, while Steph Korey, co-founder of Away, resigned after reports of workplace bullying.

The list concludes with media personalities like James O’Keefe of Project Veritas, accused of misusing funds, and Phadria Prendergrast, editor-in-chief of Women Of The City Magazine, who faced allegations of pay-to-play practices.

Forbes’ hall of shame, therefore, serves as a cautionary tale. It underscores the unpredictability of early success and the importance of ethical conduct in business and personal life. As the business world continues to evolve, this list reminds us that initial success does not guarantee a legacy free from controversy or wrongdoing.