A finance world favorite, the "Passing the Torch" newsletter, was born from a high school lunchroom debate between pre-calc and chemistry classes. Founded in 2025 by Jasper Gould and Emile Chilingirian, then sophomores at Berkeley Carroll School in Brooklyn, the newsletter now boasts nearly 60,000 subscribers.
More than two-thirds of its readership registers with corporate emails from major firms like McKinsey, JP Morgan, Blackstone, Nvidia, Goldman Sachs, Morgan Stanley, Palantir, and Microsoft. The 17-year-old authors, Gould and Chilingirian, cover markets, economics, politics, and culture, offering what Chilingirian believes are "Gen-Z takes...variant views that the market may not have priced in yet."
Gould noted their differing opinions on politics and capitalism, humorously adding they "probably should have been doing our homework when we were doing this." The newsletter aims to reflect the collective mindset of a generation often perceived as distrustful of institutions and misunderstood by broader society.
Recent topics have explored Gen Z's sentiment towards automated vehicles, the connection between teens' growing affinity for wristwatches and a distaste for AI, and the decline of sneaker culture. Sam Shaffer, an early reader and former eBay executive, described the content as being read with "equal levels of intrigue" as The Atlantic, highlighting its focus on emerging trends rather than solely market performance.
Subscribers pay $15 per month or $150 annually, with the authors' annual revenue in the five-figure range. Despite attending a school with tuition exceeding $66,000 per year, their reporting maintains a populist stance, informed by constant communication with high school students nationwide. The founders dedicate approximately 30 hours per week to the newsletter alongside their studies.
Beyond the newsletter, Gould and Chilingirian also lead the Brooklyn Youth Charitable Investment Group (BYCIG). This non-profit organization educates high schoolers across the country on financial literacy. BYCIG has engaged over 1,000 students and hosted talks with chief economists from institutions like the White House and Wells Fargo, as well as directors from UBS and JP Morgan Chase. The group also manages a $50,000 investment fund, where student teams research and pitch ideas, with executed trades resulting in donations to charity. The fund has reportedly outperformed the market, with several positions growing over 40%.
Jasper Gould's father, Nick Gould, a tech industry veteran, expressed "amazement" at their achievements and credits "Passing the Torch" for growth in his own newsletter. As they navigate college application season, Gould and Chilingirian are developing succession plans for both the newsletter and BYCIG. Gould, who will turn 18 shortly, acknowledged the impending legal age while discussing their future endeavors, stating, "We can’t set up a hedge fund just yet."