You don't have to be rich or a celebrity to qualify for 30 under 30, 50 over 50

Business related publications release their own versions of a successful entrepreneurs list each year. These classes of entrepreneurs must meet various qualifications and categories to be awarded acknowledgment.

Popular lists include Forbes 30 Under 30 and 50 Over 50, as well as Fortune's 40 Under 40.

One of the central qualifications to qualify for any of these categories is age. There is no required income a person or business has to prove to be nominated, although that is a factor is choosing those who beat the competition and make the list.

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Here is further information about these highly esteemed lists, including how to qualify and how to be considered.

As of 2023, there are a total of 20 different categories available for applicants of 30 under 30. Each class includes 30 winners.

The categories available for contenders include art & style, Hollywood & entertainment, retail & ecommerce, healthcare, consumer technology, sports, marketing & advertising, venture capital, science, media, music, social media, manufacturing & industry, social impact, enterprise technology, energy, food & drink, education, finance and games. 

Though 30 awards are available in each category, there could be more than 30 names to a list if a company shares co-founders. Multiple names may be considered for one nomination in cases like this.

The categories candidates can apply for 40 Under 40 for include finance, technology, healthcare, government and politics, and media and entertainment.

The categories for the 50 Over 50 class are comprised of lifestyle, impact, innovation and investment. 

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The basic qualifications for the lists append that a nominee must be under, or above a certain age in order to qualify. For 30 Under 30, an individual must be 29 or younger as of Dec. 31 of the year prior to the publication year. For example, an individual who is applying to be on the 30 Under 30 list for 2024 must be 29 or younger as of Dec. 31, 2023.

The rules for 40 under 40 and 50 over 50 are interchangable. In order to qualify for the 40 Under 40, an individual must be under 40 years old and for the 50 Over 50, the individual must be over the age of 50.

A person's age is a vital qualification to be considered. Once an application is completed, there are various factors examined in order to select winners. Funding, revenue, social impact, scale, inventiveness and potential are just a few of the factors considered, according to Forbes' website. Therefore, if you are filling out an application for yourself or another, it is important to mention all of these points when applying.

Individuals can nominate themselves or can be nominated by someone else. Industry sources and alumni of the list also can contribute names to be considered in the process.

For applications, you must answer basic questions such as if you're nominating yourself or someone else, your relationship to the person you're nominating, company name and website, birthday, etc.

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Then, the forms require explanation as to why you, or the person you are nominating, should be a part of the list.

One common misconception about topping one of these prestigious lists is that you need to be extremely well-off financially in order to be considered. 

While there is no benchmark income that serves as your golden ticket, how much revenue your business yields is a detail you should include in your application, since it is a factor considered.

The lists are different from those like The Billionaire List, which is based on wealth. Classes like the 30 Under 30 and 50 Under 50 consider many other factors in addition to finances.

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There are thousands of applications to sift through each year, which are typically looked at by writers and editors. In addition to being evaluated by staff, applicants are also reviewed by expert judges. Following collaboration between the groups, winners are chosen. 

Luke Combs, Zoey Deutch, Joey King, Patrick Mahomes, Sydney Sweeney, Madison Beer, Noah Beck, Anitta, Beanie Feldstein, Joey King, Sydney Sweeney, Zoey Deutch, Patrick Mahomes, Megan Thee Stallion, Ezra Miller, Lili Reinhart, Dylan Sprouse, Finn Wolfhard, Bobby Wagner, George Kittle, Hailey Bieber, Margot Robbie, Rihanna, Miley Cyrus, Kylie Jenner, LeBron James and Joe Jonas have all graced the Forbes 30 Under 30 winner's list.

Forbes' 50 Over 50 launched in 2021 and hasn't yet seen as many big names. Since its launch, Catherine O'Hara, Judy Sheindlin, Kris Jenner, Angela Bassett, Sandra Bullock, Dolly Parton, Octavia Spencer, Martha Stewart, Tina Turner, Judy Blume, Jamie Lee Curtis, Viola Davis and Lisa Vanderpump have each made the list.