Forbes’ “30 Under 30” Features Controversial Figures, Some Facing Legal Scrutiny

Forbes’ prestigious “30 Under 30” lists, known for celebrating young achievers across diverse sectors, faced criticism this year due to a few eyebrow-raising inclusions and subsequent legal troubles for some prominent figures.

Among the notable inductees, Sam Bankman-Fried, the FTX cofounder listed in the finance category in 2021, was highlighted in Forbes’ “hall of shame.” Forbes initially estimated Bankman-Fried’s net worth at over $26 billion, a figure that came under scrutiny when an investigative report revealed close connections between FTX and Alameda, its sister trading firm.

FTX’s subsequent bankruptcy filing unveiled allegations that Bankman-Fried and other executives misused customer funds, resulting in his recent conviction on seven counts of fraud and conspiracy. Former Alameda co-CEO, Caroline Ellison, previously listed on Forbes’ finance class in 2022, was also implicated and testified against Bankman-Fried after pleading guilty to seven offenses.

Additionally, Martin Shkreli, known as the “pharma bro,” appeared on the “30 Under 30” list in 2013 and reappeared in the recent Forbes hall of shame. Shkreli gained notoriety for significantly increasing the price of a parasitic infection medication and serving four years in prison for financial misrepresentation and stock manipulation.

Further controversy arose from Charlie Javice, part of the 2019 finance class, whose startup, Frank, was acquired by JP Morgan Chase for $175 million. A lawsuit alleged that Frank exaggerated its user count to JP Morgan, claiming 4.25 million users instead of the actual 250,000. Javice faces charges of fraud and conspiracy and has pleaded not guilty.

The inclusion of these individuals, now embroiled in legal issues, has raised questions about the credibility and selection process of Forbes’ distinguished “30 Under 30” lists.

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