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There are more self-made billionaires under 30 than ever before—11 of them have made the ultra-wealthy club in the last 3 months thanks to AI

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While many Gen Zers are struggling to land entry-level jobs thanks to AI, the same technology is also fueling a new wave of young billionaires. This year, the number of self-made billionaires under 30 hit an all-time high, as entrepreneurial young people have turned growing up with smartphones into billion-dollar startups. 

In 2025, there were more self-made billionaires in their 20s than ever before—about 13 people higher than from a previous record of 7—according to an analysis from Forbes. 

And most have experienced a wealth surge as of late; about 11 of the 13 newly initiated ultra-wealthy became billionaires within the last three months, including the likes of Polymarket CEO Shayne Coplan, the cofounder of vibe coding startup Loveable, Fabian Hedin, and AI entrepreneur Arvid Lunnemark. 

The majority of these young and ultra-wealthy founders made their wealth by jumping on the AI industry while it’s hot. For example, 25-year-old Sualeh Asif found success as the cofounder of company Anysphere—the team behind popular $29.3 billion AI editing tool Cursor.

Adarsh Hiremath and Surya Midha, both just 22, cofounded Mercor: an AI-powered recruiting startup helping connect talent with Silicon Valley’s biggest AI labs. 

Of the 11 young entrepreneurs who became billionaires within the last few months, eight saw their fortunes boom through their AI innovations. 

How the youngest female self-made billionaire under 30 earned her wealth

One of the 11 entrepreneurs under 30 who stepped into newfound wealth late this year was Luana Lopes Lara: the world’s youngest female self-made billionaire ever. 

Earlier this month, Lopes Lara saw her fortune skyrocket to $1.3 billion after her prediction market startup, Kalshi, hit an eye-watering $11 billion valuation. But before making her Wall Street debut, the young entrepreneur was on a different life path. 

The Brazilian-born entrepreneur was once training to be a professional ballerina in Rio. After working for nine months as a professional dancer in Austria, she gave up the grueling career, and pivoted to a different dream: becoming the next Steve Jobs. 

While studying engineering at MIT, Lopes Lara spent her summers working as an intern at Ray Dalio’s Bridgewater Associates and Ken Griffin’s Citadel Securities. But something clicked when the founder took up a gig at Five Rings Capital, alongside fellow MIT student Tarek Mansour. During this internship, the duo bonded over a shared vision for a prediction market company that would allow users to bet on the outcomes of popular sporting events, elections, and current events. 

The entrepreneurs went into business together, and after a successful Y Combinator pitch just a year later, their platform Kalshi was born. In 2020, after receiving Commodity Futures Trading Commission (CFTC) approval, it became the first federally regulated prediction market platform in business. Earlier this month, Kalshi raised $1 billion, achieving a $11 billion valuation and propelling Lopes Lara and Mansour—who each own around 12% of the company—into the exclusive billionaire club.

This story was originally featured on Fortune.com



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Financier accused of duping investors in alleged Ponzi scheme

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A financier has been extradited from the United Kingdom to the United States to face allegations that he cheated investors who were promised monthly 10% gains in what was actually a Ponzi scheme, authorities said.

Matthew Melton, 61, of Boulder, Colorado, has remained jailed at a federal lockup in Brooklyn after appearing in court Saturday to face securities fraud and wire fraud charges. His lawyer did not immediately respond to a message seeking comment.

Authorities said Melton falsely told at least 20 investors that his investment fund, Price Physics, used a proprietary trading algorithm to invest in futures contracts and produce record returns.

But U.S. Attorney Jay Clayton said Melton was not doing anything groundbreaking or cutting-edge in the scheme, which he used to fund a luxurious lifestyle from 2018 to 2020.

“In reality, Melton was allegedly operating one of the oldest scams around, taking new investors’ money to pay old investors and pocketing funds for himself along the way,” Clayton said in a statement.

Melton is alleged to have used some of the nearly $3.4 million he brought in to pay his mortgage and for sailing excursions.

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The University of Oklahoma fired an instructor after she failed a psychology student who cited the Bible in an essay on gender

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The University of Oklahoma has fired an instructor who was accused by a student of religious discrimination over a failing grade on a psychology paper in which she cited the Bible and argued that promoting a “belief in multiple genders” was “demonic.”

The university said in a statement posted Monday on X that its investigation found the graduate teaching assistant had been “arbitrary” in giving 20-year-old junior Samantha Fulnecky zero points on the assignment. The university declined to comment beyond its statement, which said the instructor had been removed from teaching.

Through her attorney, the instructor, Mel Curth, denied Tuesday that she had “engaged in any arbitrary behavior regarding the student’s work.” The attorney, Brittany Stewart, said in a statement emailed to The Associated Press that Curth is “considering all of her legal remedies.”

Conservative groups, commentators and others quickly made Fulnecky’s failing grade an online cause, highlighting her argument that she’d been punished for expressing conservative Christian views. Her case became a flashpoint in the ongoing debate over academic freedom on college campuses as President Donald Trump pushes to end diversity, equity and inclusion initiatives, and restrict how campuses discuss race, gender and sexuality.

Fulnecky appealed her grade on the assignment, which was worth 3% of the final grade in the class, and the university said the assignment would not count. It also placed Curth on leave, and Oklahoma’s conservative Republican governor, Kevin Stitt, declared the situation “deeply concerning.”

“The University of Oklahoma believes strongly in both its faculty’s rights to teach with academic freedom and integrity and its students’ right to receive an education that is free from a lecturer’s impermissible evaluative standards,” the university’s statement said. “We are committed to teaching students how to think, not what to think.”

Universities under fire

A law approved this year by Oklahoma’s Republican-dominated Legislature and signed by Stitt prohibits state universities from using public funds to finance DEI programs or positions or mandating DEI training. However, the law says it does not apply to scholarly research or “the academic freedom of any individual faculty member.”

Home telephone listings for Fulnecky in the Springfield, Missouri, area had been disconnected, and her mother — an attorney, podcaster and radio host — did not immediately respond Tuesday to a Facebook message seeking comment about the university’s action.

Fulnecky’s failing grade came in an assignment for a psychology class on lifespan development. Curth directed students to write a 650-word response to an academic study that examined whether conformity with gender norms was associated with popularity or bullying among middle school students.

Fulnecky wrote that she was frustrated by the premise of the assignment because she does not believe that there are more than two genders based on her understanding of the Bible, according to a copy of her essay provided to The Oklahoman.

“Society pushing the lie that there are multiple genders and everyone should be whatever they want to be is demonic and severely harms American youth,” she wrote, adding that it would lead society “farther from God’s original plan for humans.”

In feedback obtained by the newspaper, Curth said the paper did “not answer the questions for the assignment,” contradicted itself, relied on “personal ideology” over evidence and “is at times offensive.”

“Please note that I am not deducting points because you have certain beliefs,” Curth wrote.

This story was originally featured on Fortune.com



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The U.S. Justice Department has released tens of thousands more documents related to Jeffrey Epstein, a tranche that included multiple mentions of President Donald Trump but added little new revelatory information to the long-anticipated public file on the late financier and convicted sex offender.

The release is the most voluminous so far and comes after a massive public campaign for transparency into the U.S. government’s Epstein investigations.

Many of the mentions of Trump in the file came from news clippings, though it includes an email from a prosecutor pointing out the flights that Trump took on Epstein’s private jet during the 1990s.

The two men were friends for years before a falling out. Trump has not been accused of wrongdoing in connection with Epstein. The Justice Department issued a statement that some documents contain “untrue and sensationalist claims” about Trump made shortly before the 2020 election.

Here are some takeaways:

Prosecutor flagged Trump’s travel on Epstein’s jet

Among the mentions of Trump in the latest batch of the Epstein files is a note from a federal prosecutor from January 2020 that said Trump had flown on the financier’s private plane more often than had been previously known.

An assistant U.S. attorney from the Southern District of New York said in an email that flight records the office received on Jan. 6, 2020, showed that Trump was on Epstein’s jet “many more times than previously has been reported (or that we were aware).”

The prosecutor who flagged the Trump mentions in the flight logs said they did so because lawyers “didn’t want any of this to be a surprise down the road.”

His travels on Epstein’s plane spanned the time that would likely be covered in any criminal charges against Epstein’s co-conspirator, Ghislaine Maxwell. Trump was listed as a passenger on at least eight flights between 1993 and 1996, and on at least four of those flights, Maxwell was also there, according to the email.

On one of those eight flights, in 1993, Trump and Epstein were the only two passengers listed in the flight logs. On another flight, the three passengers listed in records are Epstein, Trump, and a redacted individual, who was 20 years old at the time. Two other flights included two women — whose names were redacted in follow-up emails — identified as potential witnesses in a Maxwell case.

Several additional Trump trips on Epstein’s plane had been previously disclosed during Maxwell’s criminal proceedings.

Asked for comment about the email, the White House pointed to a Justice Department statement saying Monday’s release contained “unfounded and false” claims against the president submitted to the FBI shortly before the 2020 election, but they were nevertheless being released for full transparency.

The Justice Department specifically raised questions about the validity of a document mentioning Trump that was styled as a letter from Epstein to Larry Nassar, the sports doctor convicted of sexually abusing Olympic athletes. The department pointed out that it was processed three days after Epstein’s death.

Meanwhile, the latest release also shows that Mar-a-Lago, Trump’s southern Florida club, was served with a subpoena in 2021 for its employment records. The disclosure came as part of an email chain in which lawyers for the Southern District of New York and an attorney in touch with representatives for the Trump Organization discussed the employment status of someone whose name was redacted.

Trump calls the files a distraction

Trump complained that the files were a distraction from the work he and other Republicans are doing for the country.

Speaking during an unrelated event at his Mar-a-Lago home in Palm Beach, Florida, on Monday, the president blamed Democrats and some Republicans for the controversy.

“What this whole thing is with Epstein is a way of trying to deflect from the tremendous success that the Republican Party has,” Trump said.

He also expressed frustration about the famous people shown with Epstein in photos released by the Justice Department — people who he said may not have known him but ended up in the shot anyway.

“You probably have pictures being exposed of other people that innocently met Jeffrey Epstein years ago, many years ago. And they’re, you know, highly respected bankers and lawyers and others,” Trump said.

Other high-profile people are showing up in the files

Well-known people shown in the files include former President Bill Clinton, the late pop star Michael Jackson and singer Diana Ross. The mere inclusion of someone’s name or images in files from the investigation does not imply wrongdoing.

The latest release also includes files that put the U.K.’s former Prince Andrew back in the headlines.

Among those documents is correspondence between Maxwell and someone who signs off with the initial “A.”

The email exchange includes other references that suggest Maxwell’s correspondent may be Andrew. He did not immediately respond to a request for comment.

The August 2001 email from someone identified only as “The Invisible Man,” said he is “up here at Balmoral Summer Camp for the Royal Family,” an apparent reference to the Scottish estate where the royal family have traditionally taken their late summer holidays.

“A” writes: “How’s LA? Have you found me some new inappropriate friends?”

The writer says he has left “the RN” and refers to the challenges of looking after “the Girls.” Andrew retired from the Royal Navy in 2001 and has two daughters.

Andrew, one of King Charles III’s younger brothers, was stripped of the right to be called a prince and his other royal titles and honors in October, amid continued publicity about his links to Epstein and concerns about the potential damage to the rest of the royal family. He is now known as Andrew Mountbatten-Windsor.

Andrew has repeatedly denied committing any crimes, including having sex with Virginia Giuffre, who alleged that she was trafficked by Epstein and had sex with Andrew when she was 17.

Biggest information dump yet

Trump tried for months to keep the records sealed before relenting to political pressure, including from some fellow Republicans, though he eventually signed a bill mandating the release of most of the Justice Department’s files on Epstein.

Monday’s release was the biggest dump yet, including nearly 30,000 more pages. The data released by the law’s Friday deadline contained a fraction of that amount, mostly photographs taken during FBI searches of Epstein’s homes.

The new cache includes news clippings, emails and surveillance videos from the New York jail where Epstein was held before taking his own life in 2019, much of which was already in the public domain.

The law called for the files to be released within 30 days, but the Justice Department has instead released them in stages starting Friday. Officials have said they’re going slowly to protect victims, though some women assaulted by Epstein have spoken out publicly to call for greater transparency.

And the administration is facing fierce accusations that it is withholding too much information. Senate Minority Leader Chuck Schumer, D-N.Y., said the tens of thousands of files released still left “more questions than answers.” He pointed to a 2019 FBI email that mentions 10 people under investigation as possible co-conspirators but contains few additional details.


Associated Press writer Darlene Superville in Washington and Danica Kirka in London contributed to this report.



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