40 Under 40

Rascoff (left) and Hasenstab (right)

(Tie)

Michael Hasenstab
Age: 39
Portfolio manager, Franklin Templeton

Hasenstab is one of the biggest winners from the eurozone crisis. His $60 billion Templeton Global Bond Fund has gained 10% this year, to beat all but a handful of rivals. The Ph.D.-educated contrarian is betting that Europe will stay together, despite the threat of many more years of economic hardship. Hasenstab regularly meets with policymakers around the world. Then he buys debt according to his take on a country's prospects -- not merely a benchmark index. His view of the U.S.? He hasn't owned U.S. Treasuries for years. ("We've printed way too much money," he says.) His big bet is on China's continued growth.

Expert at: Skinning and chopping up chickens. (He assisted the cafeteria chef in his freshman year at Carleton College.)

--S.C.

Spencer Rascoff
Age: 36
CEO, Zillow

Rascoff has made swift progress with Zillow, the online real estate site he joined in 2005 that connects real estate agents, homeowners, mortgage lenders, and others. And with 100 million homes and apartments in its database, it has also become an invaluable tool for economists too. Since he took it public last year, Zillow's revenue has climbed and membership has soared to 37 million active users. Much of Zillow's success lies in the smooth -- and rapid -- user transition from desktop to mobile. Explains Rascoff: "It's when you're driving around that having access to real estate information is all that more critical."

All in the family: Rascoff's 7-year-old daughter is pursuing an entrepreneurial venture of her own, selling perfume online.

--J.P.M.

NEXT: Clara Shih