MrBeast, the world’s largest YouTube star, is planning to raise hundreds of millions of dollars in a move that could value the company at approximately $5 billion (£3.9 billion).
The YouTuber, whose real name is Jimmy Donaldson, has reportedly been in discussions with various wealthy individuals and financial companies regarding participation in the investment round.
The funds are intended to establish a holding company for his expanding empire, which includes a video production company, a chocolate brand called Feast, and a snack business named Lunch. According to Bloomberg, the money could also be used to expand his media and merchandise packaging business.
The talks regarding potential funding are still in the early stages, and it is unclear who will invest and at what valuation. This would not be his first fundraising round, as he has previously secured investments from companies such as New York-based Alpha Wave Global.
If successful, the new funds would help Donaldson further expand his business. With over 368 million subscribers on his channel, he is already the world’s largest YouTuber.
The 26-year-old from Wichita, Kansas, is known for his videos featuring stunts, challenges, and cash giveaways. One of his most popular viral videos involved recreating the set from the Netflix series Squid Game, costing $3.5 million. The challenge had 456 participants competing for a prize of $456,000.
He has also launched the reality competition show “Beast Games” on Amazon, which had limited viewership last month.
Like many YouTubers, Donaldson started on the platform in 2012 and has since ventured into food brands like Fastables and MrBeast Burgers.
Despite earning tens of millions of dollars annually, he is also known for his charitable efforts. Much of his earnings are reinvested into his videos and philanthropy.
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However, his work has not been without criticism. He has faced backlash for a history of homophobic comments as a teenager and being a demanding employer. Some have labeled his content as “poverty porn,” claiming that people only benefit from cash, prizes, and gifts by appearing in his videos. Despite the criticism, his efforts to fund cataract surgery for 1,000 people to restore their vision were praised by charities.
Source: www.theguardian.com
