YouTube star MrBeast buys Step banking app to provide financial education he never had, expanding his business empire beyond videos
NEW YORK: YouTube superstar MrBeast has expanded his business empire by acquiring the Gen Z-focused financial services platform Step.
The online personality, whose real name is Jimmy Donaldson, announced the acquisition through his company Beast Industries.
“Nobody taught me about investing, building credit, or managing money when I was growing up,” the 27-year-old said.
“I want to give millions of young people the financial foundation I never had.”
Step offers credit and debit cards alongside interest-bearing accounts, though it operates as a financial services platform backed by Evolve Bank & Trust rather than a traditional bank.
The financial terms of the acquisition were not disclosed.
Step and Beast Industries did not immediately respond to requests for comment.
MrBeast’s YouTube channel boasts over 450 million subscribers, the largest audience on the platform.
His videos feature elaborate contests and global philanthropic ventures, often costing millions to produce with a team of around 300 people.
His success has spawned an Amazon Prime Video game show and a pop-up amusement park in Saudi Arabia called Beast Land.
His snack brand Feastables generates hundreds of millions in sales, rivalling his YouTube revenue.
Step CEO and founder CJ MacDonald welcomed the acquisition in a statement.
“We’re excited about how this acquisition is going to amplify our platform and bring more groundbreaking products to Step customers,” MacDonald said.
Contestants on MrBeast’s high-stakes videos could benefit from Step’s financial literacy mission.
Recent video concepts include “Survive 20 Days Chained To Your Ex, Win $250,000” and “30 Celebrities Fight For $1,000,000!”
