Beast Industries, owned by YouTuber Jimmy “MrBeast” Donaldson, introduced on Monday that it has acquired Step, a banking app designed for teenagers and younger adults. The transfer comes a few months after Donaldson introduced plans to start a new YouTube channel centered on private finance and investing. His main channel has 466 million subscribers and has lengthy been one of the vital fashionable on YouTube, continuously that includes movies the place Donaldson provides away large sums of cash.
MrBeast’s different enterprise ventures additionally embody a chain of ghost restaurants, the Feastables snack model, and an upcoming cellphone service firm referred to as Beast Mobile. That is his firm’s first dip into monetary companies.
Step is considered one of many mobile-only banking companies, just like Monzo or Revolut, however particularly geared toward teenagers, which can clarify why Donaldson selected it over its rivals — his viewers is principally Gen-Z and Gen Alpha. Step’s traders additionally embody Gen-Z influencers Josh Richards and Charli D’Amelio, the latter of whom has appeared on MrBeast’s YouTube channel.
