26-year-old is reportedly planning to use funds to create a holding company for his growing empire. The world’s biggest YouTube star, MrBeast, is planning to raise hundreds of millions of dollars in a move that would reportedly value his company at roughly $5bn (£3.9bn).
The YouTuber, whose real name is Jimmy Donaldson, is said to have spoken with several wealthy individuals and financial firms about taking part in the investment round, which would help to expand his business. He is reportedly planning to use the money to create a holding company for his growing empire, which includes a video production company, his chocolates brand Feastables and snack business Lunchly. The funds could also expand his media and packaged goods businesses, according to Bloomberg, having already generated more than $400m in sales last year.
Talks over the potential fundraising are still in early stages and it is not yet clear who would invest and at what price. It would not be his first fundraising, having clinched previous investment from firms including New York-based Alpha Wave Global.
If successful, fresh funding would help to further expand Donaldson’s business, having already become the biggest YouTuber in the world with more than 367 million subscribers to his channel. The 26-year-old American from Wichita, Kansas is mostly known for videos consisting of huge stunts or challenges, or massive giveaways of cash or prizes. One of his most popular viral videos recreated the sets from the Netflix series Squid Game at a cost of $3.5m (£2.9m), to which he invited 456 people to compete in challenges to win $456,000 in prize money.
He has since launched a reality competition show – Beast Games – through Amazon, which became the streaming platform’s most watched unscripted show last month. Like many YouTubers, Donaldson started off posting videos in his bedroom, joining the video platform in 2012. He has since expanded beyond those videos, launching food brands including Feastables and MrBeast burgers, which have been distributed through “ghost kitchens” used by food delivery companies in locations across the US, UK and Australia.
He reportedly makes tens of millions of dollars a year, has a philanthropic organisation, and is generally seen as a positive influence on YouTube – investing much of what he earns back into his videos, as well as charitable efforts. Sign up to Business Today.
Get set for the working day – we'll point you to all the business news and analysis you need every morning. after newsletter promotion. However, his work has not come without criticism, with a history of homophobic comments as a teenager, and he faced complaints about being a hard taskmaster to employees.
Some have also criticised his videos as “poverty porn”, arguing people only benefited – through cash, other prizes or gifts – because they featured in his content. This was most pointed when he was aiming to fund 1,000 people to get cataract surgery to restore their sight. However, those efforts were also met with praise by charities.
