Forbes publishes 'hall of shame' naming 10 people it regrets featuring

Forbes publishes 'hall of shame' naming 10 people it regrets featuring

November 30, 2023

Forbes publishes new ‘hall of shame’ naming 10 people it regrets featuring on prized 30 under 30 list – with jailed FTX founder Sam Bankman-Fried taking inevitable top spot

  • Forbes has included over 10,000 rising stars on its famous 30 Under 30 lists over the years but acknowledged there are some ‘we wish we could take back’
  • FTX founder Sam Bankman-Fried was the first person named on the new Hall of Shame list after he was found guilty of $10billion of crypto fraud on November 2
  • His ex-girlfriend and former co-CEO of FTX sister company Alameda Caroline Ellison was included in the list

Forbes has published a new ‘Hall of Shame’ with 10 people it regrets featuring on its famous 30 Under 30 list in recent years.

FTX founder Sam Bankman-Fried was the first person named on the new list after he was found guilty of $10billion of crypto fraud on November 2. He was featured on the prestigious Forbes 30 Under 30 in 2021.

Caroline Ellison, his ex-girlfriend and former co-CEO of FTX sister company Alameda, was included in the Hall of Shame. 

She was named in Forbes’ finance class in 2022 but pleaded guilty to seven offenses including wire fraud and money laundering later that year.

Other names Forbes regrets listing include Frank founder Charlie Javice and real estate investor Nate Paul who have been indicted on fraud and conspiracy counts and Defense Distributed founder Cody Wilson who was convicted of having sex with a minor. 

Forbes has published a new ‘Hall of Shame’ with 10 people it regrets featuring on its famous 30 Under 30 list in recent years which includes Sam Bankman-Fried (center)

His ex-girlfriend and former co-CEO of FTX sister company Alameda Caroline Ellison was included in the Hall of Shame

Other names Forbes regrets listing include Frank founder Charlie Javice (center) who has been indicted on fraud and conspiracy counts

Forbes has included over 10,000 rising stars on its famous 30 Under 30 lists over the years but acknowledged there are some ‘we wish we could take back’.

It began its Hall of Shame list with Bankman-Fried, 31, who was recently convicted of seven counts of fraud and conspiracy in New York federal court.

Forbes estimated he had a net worth of more than $26billion when he was featured in 2021. Only Mark Zuckerberg had made as much money that young.

But it was later reported that Bankman-Fried’s company had overly close ties with its sister trading firm Alameda Research and FTX filed for bankruptcy days later. 

He and other executives were accused of using customer funds for property and other luxuries.

His ex-girlfriend Ellison was also listed on the Hall of Shame after she pleaded to fraud charges last December. 

She testified against him during the high-profile trial and is likely to receive a lighter sentence in return for her cooperation with the government. 

Javice was also listed on Forbes’ Hall of Shame. She was the founder of a startup named Frank which helped college students get financial aid and named on the 30 Under 30 finance class in 2019. 

She sold the company to JPMorgan Chase for $175million after she claimed it had 4.25 million users, according to a lawsuit filed by the bank.

The Department of Justice alleged Javice defrauded JPMorgan because the company had just 250,000 users.

FTX founder Sam Bankman-Fried was the first person named on the Hall of Shame list after he was found guilty of $10billion of crypto fraud on November 2

Javice was the founder of a startup named Frank which helped college students get financial aid. She sold it to JPMorgan Chase for $175million after she claimed it had 4.25 million users, according to a lawsuit filed by the bank, but prosecutors allege it had just 250,000

She pleaded not guilty to charges which include fraud and conspiracy. Her trial is scheduled for October. 

Real estate investor Paul was included in the Hall of Shame list as his business was valued at around $1billion before he was accused of lying to lenders and charged with fraud and conspiracy in June. 

He founded the World Class Capital Group and initially featured on Forbes finance class in 2016. 

Paul has pleaded not guilty to all charges and his trial is scheduled for July. 

Gun activist Wilson, who became famous for posting blueprints online on how to 3D print a working gun, also made the top 10.

He was featured on Forbes’ Under 30 Law and Policy list back in 2014.

Wilson was arrested for paying $500 to have sex with a 16-year-old girl he met on website called Sugardaddymeet.com and pleaded guilty to injury to a child in 2019. 

He was required to register as a sex offender. 

‘Pharma bro’ Martin Shkreli, who appeared on the 30 Under 30 list in 2013, was listed on Forbes’ new Hall of Shame. 

He became known as the ‘most hated man in America’ when he shot up the price of a vital medication used to treat parasitic infections from $17.50 to $750. 

Shkreli was hauled before congress where he pleaded the fifth and refused to testify.

But the Federal Trade Commission sued and won, fining him for $65million and slapping him with a lifelong ban from the pharmaceutical industry. 

He also served four years in prison for misrepresenting financials and attempting to manipulate a stock.

James O’Keefe, who ran conservative media company Project Veritas and was featured on the Forbes 30 Under 30 list in 2012, was also named on the Hall of Shame. 

Gun activist Cody Wilson, who became famous for posting blueprints online on how to 3D print a working gun, also made the top 10. He was arrested for paying $500 to have sex with a 16-year-old girl and pleaded guilty to injury to a child in 2019

Real estate investor Nate Paul was included in the Hall of Shame list as his business was valued at around $1billion before he was accused of lying to lenders and charged with fraud and conspiracy in June

‘Pharma bro’ Martin Shkreli, who appeared on the 30 Under 30 list in 2013, was listed on Forbes’ new Hall of Shame. He became known as the ‘most hated man in America’ when he shot up the price of a vital medication used to treat parasitic infections from $17.50 to $750 

He led the company for 13 years before he was ousted following complaints from employees and board members about his management style and misuse of donor funds.

Magazine editor Phadria Prendergast was featured on the prestigious Forbes list in 2023 but has already made the Hall of Shame list. 

She launched Women of The City Magazine but was allegedly running a pay-to-play operation where cash got you coverage.

Around 11 former customers complained she ran off with around $195,000, according to a Forbes investigation. 

Steph Korey was the co-founder and CEO of luggage brand Away and Forbes put her on the cover of the 2018 Under 30 issue.

But a report published in 2019 included accounts from several employees who accused her of bullying coworkers and enforcing a grueling workload. 

Lucas Duplan rounded off the top 10 Hall of Shame list. He was featured in Forbes’ 30 Under 30 in 2014 as the founder of mobile payments company Clinkle.

He raised $30million during one seed round but the company did not produce a viable product and was forced to make massive layoffs. 

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