The newest ruse for MrBeast to get your money with a ‘financial institution’: From crypto to bank cards and even loans, our monetary specialists reveal simply what he is planning… and the very actual dangers
YouTube megastar MrBeast’s business has announced the launch of a new financial firm as the popular social media personality expands his sprawling empire.
The YouTuber filed a trademark in the US for MrBeast Financial in October, with the listing being for a ‘mobile app and online services for a range of banking, financial advisory, crypto exchange, and other services.’
The social media star’s huge following creates a golden opportunity to market to almost half a billion people who watch his videos – customers the traditional banks would ordinarily see as an obvious target for them.
MrBeast – real name Jimmy Donaldson – is the highest earning YouTube creator and boasts the most subscribed channel on the platform.
Donaldson has more than 450million subscribers on the social media channel and has hundreds of millions of followers across other social media platforms.
But just how could he tap into their finances, how close would this be to a ‘MrBeast Bank’ and what are the risks that face anyone considering signing up to a star’s financial venture?
Recent videos on MrBeast’s channel are titled ‘Survive 100 days trapped in a private jet, keep it’, and ‘survive 100 days in prison, win $500,000’
MrBeast’s sprawling empire
MrBeast has built a $5billion business empire off the back of his YouTube stardom and its expansion shows no signs of slowing.
Speaking at the New York Times’ DealBook Summit earlier this month, Jeffrey Housenbold, chief executive of Beast Industries, said the business would expand into financial services, as well as mobile phone networks with Beast Mobile.
Housenbold said: ‘We’re also launching a phone company, Beast Mobile, and a financial services platform in there, wrapped in financial literacy and access to the world’s information, in making sure we’re doing good while doing well.’
Beast Industries already has plenty of business ventures, including snack brand Feastables, MrBeast Burger restaurants, software brand Viewstats and Amazon show Beast Games.
Reports on financial website Bloomberg indicate that Feastables is more profitable than MrBeast’s media productions, including his YouTube Channel and Amazon show.
Born in Wichita, Kansas, Donaldson began his YouTube channel in 2012 at the age of just 13, posting gaming videos of himself playing Minecraft and Call of Duty.
Now 27, Donaldson’s videos typically take the form of large-scale stunts and challenges, which often see him giving away big sums of money or expensive prizes.
Recent videos on his channel are titled ‘Survive 100 days trapped in a private jet, keep it’, and ‘survive 100 days in prison, win $500,000’.
He has even launched a limited-time pop-up theme park called Beast Land in Riyadh, Saudi Arabia, which is open until late December 2025.
In order to give away such large sums, however, Donaldson has had to build an empire that extends far beyond YouTube.
Beast Industries, the holding company behind Donaldson’s content, turned over some $400million last year. The firm forecasts revenue of some $899million in 2025, rising to $1.6billion in 2026.
Beast Industries was valued at an eye-watering $5billion in 2024.
In 2024, the firm hired Housenbold, a former managing partner at Japanese tech investor SoftBank and chief executive of photograph firm Shutterfly to head the business as its president and chief executive.
Earlier this month, Housenbold teased rumblings of a future stock market float, telling DealBook: ‘At some point, we want to be able to give the 1.4billion unique people around the world who has watched Jimmy’s content the last 90 days a chance to be owners of the company.’
Donaldson isn’t the first social media personality to expand into the financial sector.
Logan and Jake Paul co-founded venture capital firm Anti Fund in 2021, which holds $65million of assets under management in AI start-ups.
Meanwhile, Tiktok star Charli D’Amelio has thrown her weight behind teen-focused banking firm Step as an early investor.
Other social media influencers like Charli D’Amelio have also invested in fintech platforms
What could MrBeast Financial offer?
While a fintech platform is clearly in the works at Beast Industries, there is no telling exactly what it will look like.
It is highly unlikely to be a traditional bank though, due to the regulation required to get a banking licence. Instead, it would be more likely to follow the model used by other start-ups of using partnerships and technology to deliver banking services.
Based on the trademark filings for the product, it appears Donaldson is keen to keep his options open when it comes to the financial services he offers.
Beast Industries’ filings with the United States Patent and Trademark Office indicated that MrBeast Financial will be a mobile app for an exhaustive list of financial services.
These include: banking services, short-term cash advances, crypto exchange services, investment banking, customer lending, insurance, financial advice, financial planning, online banking, micro lending, credit cards and debit cards.
However, according to The Verge, the Beast Industries investor deck focuses on nine potential areas, including student loans, banking and credit insights.
According to Business Insider, one Beast Industries investor deck – a document prepared for potential investors – says the firm is ‘engaged with leading fintech companies to white label their products,’ which will be sold under a Mr Beast Financial platform.
Partnering with existing firms means that Beast Financial might be able to launch much more quickly, making use of the regulated products of other financial services firms.
James Blower, founder of the Savings Guru and expert on bank start-ups, said: ‘I think the most likely route that Mr Beast will go down is partnering with an existing fintech and/or bank to deliver services.’
What are the risks?
With a reputation to protect, MrBeast is likely to be very careful about what he puts his name to.
However, potential customers should carefully assess any new financial platform before signing up and check what lies behind a big name attached to it.
They should ensure any money they put in is protected and avoid being encouraged to buy or invest in anything by celebrity endorsements.
The collapse in November 2022 of Sam Bankman-Fried’s crypto trading platform FTX, which had hired a network of stars highlighted this.
FTX paid celebrities ranging from American Football player Tom Brady, to supermodel Gisele Bündchen and comedian and Curb Your Enthusiasm star Larry David to be brand ambassadors.
There may be concern that Beast Financial is set to be marketed towards MrBeast’s target audience, predominantly made up of viewers under the age of 30.
This means that many customers might open accounts, allowing Donaldson to cash in on his popularity with his millions of viewers, even if his fintech product isn’t competitive.
He will also be able to leverage his social media presence to promote the fintech brand, with his viewership offering a direct sales pool for his own products.
Blower said: ‘I’d advise consumers to look at the value being offered in the product, rather than the personality brand behind it, as well as the consumer protection on offer.
‘There’s plenty of cautionary tales such as Hailey Welch’s (Hawk Tuah Girl) crypto coin which nosedived from a high of nearly $500million to less than $50million within minutes.’
In the UK, anyone considering doing business with a financial firm should check that it is regulated by the Financial Conduct Authority, using the FCA’s register at register.fca.org.uk and ensure that if they save or invest with a firm it is fully covered by the Financial Services Compensation Scheme, which protects amounts up to £85,000. Read our guide to FSCS protection.
MrBeast’s large-scale stunts and challenges make use of YouTube ad revenue and sponsorships to fund big cash prizes for contestants (above: MrBeast video thumbnail)
Will Beast Financial available in the UK?
With trademark filings made in the US, Donaldson’s home country will unsurprisingly be the first to see Beast Financial if it does come to fruition.
Before launching in the US, the firm will need to get various regulatory approvals such as state licensing and FinCEN regulation.
However, there is form when it comes to MrBeast products expanding into the UK market. Both MrBeast Burger and Feastables are available here.
When it comes to financial products though, UK regulation is stringent and expanding here won’t be an easy process. Before Beast Financial came to Britain it would need to satisfy the City regulator the Financial Conduct Authority
Blower said: ‘My expectation is that he will look to launch in the US first and the UK will not be the focus. If he wanted to launch here, I’d expect a similar approach i.e. partnership with an existing fintech.
‘The reason for this is it can take up to a year to get licences for products such as loans and investments and new banks are typically taking over three years to go through the licencing process.
‘Given MrBeast has built his empire from the immediacy of social media and content, I doubt he has the patience to wait for that length of time – he also does not have the expertise which would mean he’d need to recruit people to run his services for him if he built his own.
‘So, partnership looks the most likely route.’
MrBeast and Beast Industries did not respond for comment.
