(Patria) - MrBeast, the world's most popular YouTuber, has bought a banking app targeting Generation Z, marking another addition to his wide-ranging business interests.
The online star, whose real name is Jimmy Donaldson, announced on social media that his company Beast Industries has acquired Step, a financial services platform, AFP reported.
"Nobody taught me about investing, building credit, or managing money growing up," said the 27-year-old. "I want to give millions of young people the financial foundation that I never had."
While it offers credit and debit cards and interest-bearing accounts, Step is technically not a bank but a financial services platform backed by Evolve Bank & Trust.
MrBeast has more than 450 million YouTube subscribers, the most in the world, and his channel specializes in absurd competitions and philanthropic endeavors that travel the globe.
Video production can cost millions of dollars, and the team numbers around 300 people. This success has been turned into a TV game show on Amazon Prime Video, as well as a pop-up amusement park in Saudi Arabia called Beast Land.
His snack brand, Feastables, meanwhile, is generating hundreds of millions of dollars in sales, rivaling the revenue from the YouTube videos that first made him famous.
"We are excited about how this acquisition will expand our platform and bring more revolutionary products to Step customers," said Step CEO and founder CJ MacDonald. The purchase price was not disclosed.
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