Jimmy Donaldson aka “MrBeast,” the YouTuber with 239 million subscribers and a number of companies that herald between $500 million to $700 million in income, isn’t going beast mode along with his cash, he mentioned.
Regardless of the success of his YouTube channel and numerous different companies, Donaldson doesn’t contemplate himself a wealthy particular person, he mentioned in an interview with Time after being named to the publication’s 100 Most Influential People of 2023 record.
“I mean, not right now.” Donaldson instructed Time.
The explanation Donaldson doesn’t imagine he’s rich in the meanwhile is as a result of all the cash he makes from his work will get reinvested again into making extra movies. Donaldson’s YouTube channel, which is essentially the most adopted on the platform, has posted greater than 750 movies because it launched in 2012. Most of his content material options both elaborately designed competitors present model challenges or beneficiant acts of charity equivalent to paying for cataract surgical procedure or giving homeless individuals giant sums of cash. Every video now recurrently tops 100 million views and brings in a number of million {dollars} in advert income and model sponsorships, in line with Time.
He’s additionally branched out into a number of different enterprise ventures. Most notably within the packaged items area with a line of chocolate bars known as Feastables, which he says brings in $100 million a 12 months in income. In a testomony to his promotional energy, Feastables was successful out of the gate, promoting one million bars in the first 72 hours of its launch in 2022. The model now has a jersey sponsorship with the Charlotte Hornets. Enterprise capitalist Marc Andreesen praised Donaldson and different influencers who launched shopper product traces calling it the “future of brands.”
In the course of the pandemic Donaldson launched a delivery-only burger restaurant known as MrBeast Burgers. Donaldson additionally has two tech corporations with service choices that content material creators may want: knowledge analytics agency ViewStats and Creator World, which does language dubbing for on-line video content material.
Donaldson didn’t reply to a request for remark.
All of Donaldson’s numerous companies mix to usher in at the least half a billion {dollars}, he instructed Time. And but, he doesn’t pocket the cash, as a substitute preferring to plow it again into his corporations, which is why he says he isn’t wealthy. “Right now, whatever we make, we reinvest,” he mentioned.
Going that route was a dangerous determination, in line with Donaldson. “I’ve reinvested everything to the point of—you could claim—stupidity, just believing that we would succeed,” he mentioned. “And it’s worked out.”
To this point, Donaldson’s numerous corporations usually are not worthwhile. Based mostly on monetary projections for this 12 months, it’s unlikely they’ll flip a revenue in 2024 both.
In 2022, Donaldson was reportedly looking for investors for his numerous enterprise ventures. On the time, he was seeking at the least $150 million in backing for a ten% stake in his enterprise that will have put its general valuation at $1.5 billion—a report for an influencer.
Regardless of being the face of an operation that brings in 9 figures in income, Donaldson doesn’t management its funds. That accountability falls to his mom Susan Parisher, who has labored for her son’s firm since 2017 and at the moment serves as chief compliance officer. “I don’t have access to any of my bank accounts,” says Donaldson. “I have a CFO and everything, but [my mom’s] the one who has access to the master bank account.”
The accounts that Parisher controls may quickly get even larger. Donaldson is reportedly in talks with Amazon Prime Video for his personal streaming present. Some reports pegged a possible deal at round $100 million.
