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Bilt Rewards founder and CEO Ankur Jain has created a way for millions around the U.S. to earn points simply by paying their rent.
ALEKSANDR KARNYUKHIN FOR FORBESFor many people, rent is the biggest expense each month. Many are frustrated by the thousands of dollars being funneled to their landlord because, unlike a mortgage, they build no personal equity. That’s the problem Ankur Jain was hoping to solve with his startup, Bilt. While a renter won’t end up owning the property, they earn “the equivalent of frequent flier miles or American Express points,” on their largest expense. Forbes reports that Bilt offers a credit card that gives you significant points when you pay rent. It helps your credit score too. But unlike other credit cards that often charge up to 4% in transaction fees for rental payments, Bilt doesn’t charge any fees.
Jain, a 2015 30 Under 30 Consumer Technology alum launched Bilt in 2019, but was initially named to Forbes’ list of young changemakers for his work as a cofounder of Humin, an app that made it possible to search for a phone contact based on context, like where they work or where you met them. He sold Humin to Tinder in 2016. And after spending a year there as a vice president of product, he went on to work for Rhino, a fintech company that replaces security deposits with a low-cost insurance policy, helping renters save money. His time there inspired the launch of Bilt.
Over the last five years, Bilt has generated interest from renters across the country, and has brought property owners of more than 4 million rentals (apartments and single family homes) to the platform. Plus, Bilt rewards partners include more than a dozen airlines, several large hotel chains, gyms and restaurants. With $413 million in total funding—$200 million of which closed in a round this January—the company is valued at $3.1 billion. And with his 36% stake in the business, he made this year’s Forbes Billionaires List with an estimated net worth of $1.2 billion.
Read more about the 34-year-old founder’s journey building the company here.
Talk soon,
Alex & Zoya
The Richest Billionaire In Every State 2024
Forbes.com
Forbes searched the country for the richest resident in every state. Elon Musk took Texas and Jeff Bezos topped Florida, but new billionaires—like Raising Cane’s founder Todd Graves—can also boast being the wealthiest in their home states. Check out the full list here.
Under 30 On-Air
Mara Schmiedt, 29, made the 2024 Europe Finance list for her work as the founder of software company Alluvial. Alluvial works with clients like Coinbase, Bitcoin Suisse, Figment and other crypto platforms to stake ether for their users. She sat down with Forbes to share more about how she’s growing a more secure future of crypto.
Lister Lowdown:
-To kick off Mental Health Awareness month, 2016 Under 30 Music lister Selena Gomez hosted the third annual Rare Beauty Mental Health Summit in New York City this week. She opened the summit by speaking on stage with U.S. Surgeon General Dr. Vivek Murthy to share their experiences with loneliness and mental health. Plus, Elyse Cohen, Rare Beauty’s executive vice president of social impact and inclusion, shared that Gomez’s 3.5 year-old Rare Impact Fund has raised $13 million since its launch to go toward expanding mental health services and education to young people.
-2024 Venture Capital lister Sakib Jamal’s debut book, The Young VC's Handbook: A tactical guide for newcomers to venture capital, published last month. He wrote it as a guidebook for the next generation of investors, and to share tips, resources and training materials from experts at firms like Bain Capital Ventures, Capital One Ventures, Insight Partners, Thomson Reuters Ventures, Better Tomorrow Ventures and Redpoint Ventures.
-Alex Daly, a 2016 30 Under 30 Marketing & Advertising lister, announced this week that she launched a seed fund called Orchard Street. With her background in creative communications, the fund will focus on early-stage startups and, along with investment dollars, will assist young companies with communications and strategic advising. They’ll primarily work with companies that are shaping the modern workforce within industries like communications, design, HR, healthcare and retail.
-2023 Under 30 Media company Beehiiv, a platform for email newsletter publishing, raised $33 million in a Series B round, the company announced on Tuesday. The new round comes off the back of a $12.5 million Series A and was led by New Enterprise Associates (NEA). Beehiiv says the money will go towards building out more tools for their Substack-like newsletter offerings, which are currently used by enterprises like Boston Globe Media.
Creator Corner
Lena Mantler first went viral on social media when she was 13 years old.
Courtesy of MantlerThe creator economy is thriving, and could reportedly be worth half-a-trillion dollars by 2027. Since the boom of content creation, the Forbes Under 30 list has recognized the individuals who have either built their businesses through social media or turned social media into their business. Hear from these entrepreneurs what it takes to make it on the internet.
Up this week: 2024 Under 30 Europe lister Lena Mantler, who boasts over 30 million followers across TikTok and Instagram. Known for her lifestyle videos, Mantler has scored brand partnerships with the likes of Dior Beauty and Vichy, and plans to launch her streetwear brand soon. She also recently made her debut as an actor in German cinema.
You first went viral on Musical.ly, but now also boast millions of followers on TikTok and Instagram. Is there a certain strategy you have that’s led to your success on social media?
My strategy has always been authenticity and consistency. I strive to create content that resonates with my audience. My followers have seen me growing up—I found out who I am while I was already present on social media. So the people who were there from the very beginning have met several Lenas throughout the years.
How do you keep content fresh and interesting to your followers? Do you ever get creator’s block?
I find inspiration from everyday life, fashion and traveling. While other people go to museums and do sightseeing when they’re visiting new places, I love sitting in cafes and watching people. Different styles, body languages, looks etc. are very inspiring to me. Also, it's essential to give myself breaks and recharge creatively when needed.
You recently made your debut into German cinema. Is acting something you’d want to pursue full-time? What’s your dream gig?
Acting is a passion of mine and making my debut in German cinema was an incredible experience. While I enjoy creating content online, I'm open to exploring acting further, even in the U.S. My dream gig would be to work on a challenging and meaningful film project with a talented team. For some reason, I always get requests to play someone who is going to die in the movie–it would be nice to live for the whole plot.
What’s your advice to aspiring creators who want to turn their content into a brand like yours?
My advice to aspiring creators is to stay true to yourself and your unique voice. Consistency and engaging with your audience are crucial for building a successful brand. Don't be afraid to take risks, experiment with different types of content and always strive to improve your skills.
Where do you predict the creator economy will be 10 years from now?
The creator economy is continuously evolving, and in 10 years, I believe it will be even more diverse and inclusive. With advancements in technology and platforms, creators will have even more opportunities to monetize their content and create their own brands which last long-term apart from social media.
What would you like your legacy to be?
My focus is on fashion—behind and in front of the camera. It would be nice to be remembered in this context. Ultimately, I hope my legacy is one of positivity and authenticity. I want to be remembered as someone who empowered others to embrace their creativity and pursue their dreams. Contributing to meaningful projects and making a positive impact on the world is what I aspire to leave behind.
