Lucy Guo, 30, saw her net worth reach $1.3 billion in April. But the entrepreneur, who is now the world’s youngest female billionaire, is committed to finding the best deals — even if she can afford to pay full price.
Guo told CNBC on Wednesday that she remains “frugal,” admitting that she has done things like reserve flights at the airport and cancel them later so she could have a meal for free in the Amex lounge. She also rides UberX, the budget-friendly, low-cost version of Uber, and compares prices for food before buying something to eat. Her closet consists mainly of $10 pieces from stores like Shein.
“I’m frugal at some things, and I spend more on other things,” Guo told CNBC.
Lucy Guo. Photo by Gonzalo Marroquin/Getty Images for Passes
Guo’s fortune was built via Scale AI, the AI data labeling startup she co-founded with Alexandr Wang in 2016. Meta made a $14.3 billion investment in Scale AI in June, acquiring 49% of the startup and allowing the company to achieve a $29 billion valuation.
Though Guo left Scale AI in 2018, she has held onto a nearly 5% stake in the company, which has grown to be worth $1.25 billion. Despite her billionaire status, Guo says that her life has remained the same.
“My life pre-money and post-money, it hasn’t really changed that much,” Guo told CNBC Make It earlier this month.
While Guo may be frugal when it comes to her closet, her food, and her rides to work, she still has the means to spend lavishly in key areas without thinking about the cost.
For example, when it comes to homes, Guo bought a newly constructed mansion in L.A.’s Hollywood Hills for $29.5 million earlier this year. She got it at a discount: The 5-bedroom, 13,500-square-foot mansion was first listed for $43 million in January 2024.
Guo is also the owner of a $6.7 million condo in Florida, which she purchased in 2021, as well as another L.A. home, which she bought for $4.2 million last year.
Guo additionally owns a Ferrari in a vintage rose color, which she admits was a “splurge.” A Ferrari can cost upwards of $230,950. When it comes to transportation, she also sometimes flies via private jet to skip the lines at the airport.
Guo is a college dropout who studied computer science and human-computer interactions for two years at Carnegie Mellon University, per her LinkedIn. She left to pursue a Thiel Fellowship, which rewards young entrepreneurs for following non-traditional paths and choosing to build a business over going to college. Thiel Fellows receive a $200,000 grant and access to a network of founders to grow their companies.
Guo still puts in long hours at her startup, the creator commerce and monetization platform Passes, which she founded in 2022. Passes has raised a total of $66 million across three funding rounds. She says that the normal 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’s still work-life balance,” Guo told CNBC.
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Sherin Shibu