MrBeast, whose real name is Jimmy Donaldson, currently has a massive online audience, including over 366 million YouTube subscribers. This achievement has made him a top creator on the platform, generating millions of dollars in revenue, according to Business Insider.
MrBeast uploaded his first video in 2012 and has had dozens of viral videos, including a recreation of Netflix’s “Squid Games” with over 670 million views. He runs several YouTube channels, from MrBeast Gaming to channels dubbed in various languages such as Spanish, French, Russian, and Arabic.
Donaldson earns money through brand sponsorships, YouTube ad revenue, merchandise, content licensing, and releases. Court documents filed in October revealed 163 pages of MrBeast’s pitches to various well-known brands, including Ford, CarMax, and Walmart.
Donaldson’s vast business empire also includes a chocolate and snack brand called Feastables, a charity called Beast Philanthropy, and a partnership with Amazon Prime for a reality TV series called “Beast Games.”
A recent post shared by pop culture X user Drama Alert said that YouTube sensation MrBeast made $4 million in just 28 days. While some were surprised by the massive monthly income, many suggested that he could be making much more, according to The Economist Times.
Previously, according to CNBC, the ‘star’ MrBeast set a goal of earning $700 million in revenue in 2024, which is about three times higher than the $223 million in revenue that Donaldson’s businesses generated in 2023.
“Each video brings in a few million dollars in advertising revenue, a few million dollars in deals with brands,” Donaldson told Time Magazine. He frankly revealed that brands pay between $2.5 million and $3 million for a mention in a video.
However, the money did not go into Donaldson’s bank account, and even if it did, the 25-year-old would not have access to it.
“I don’t have access to any of my bank accounts,” he said. “I have a CFO and a bunch of other people who support me, but my mother is the only one who has access to the bank account.”
According to CNBC, the proceeds will be used to grow the brand and its huge audience. “I reinvested everything in the belief that we would succeed. You could even say it was stupid. But we did succeed,” he said.
Vince Miller, a lecturer in culture and sociology at the University of Kent in the UK, said MrBeast’s recipe for success includes several elements: grassroots charm and enthusiasm, high-stakes stunts, and wads of money thrown around like confetti.
In addition, Mr. Miller believes Donaldson’s popularity also stems from his unique form of philanthropy. He convinces viewers that by watching his videos, they are participating in a form of ethical consumerism.
In a recent Diary of a CEO podcast, MrBeast said his secret is simply the “purple cow effect.” The YouTuber doesn’t hesitate to share this because he believes that very few people can copy him.
MrBeast explains that in a world filled with content, what is familiar or boring will easily be overlooked. He compares this to driving on the road and seeing a cow. If it is a normal cow, you will not pay attention. But if you see a purple cow, you will have to stop, remember and even tell your friends.
Similarly, on YouTube, normal content will quickly be forgotten. Only unique, unexpected content lines like ‘purple cows’ can make a difference.
The formula sounds simple, but it is extremely difficult to execute. According to him, to create a viral video, you need a creative idea, a detailed plan, a huge budget and access to great resources.
In fact, each video of the ‘King of YouTube’ costs millions of USD. This includes renting locations, buying props, paying participants, and running extremely large-scale challenges.
In previous interviews, MrBeast said he studied YouTube’s recommendation algorithms and other creators to figure out what made his videos popular. The way he organized the contests in his videos also encouraged viewers to stick around until the end to see the results, which resulted in higher ad revenue for both him and YouTube.
Jimmy Donaldson told reporters that he currently lives in Greenville, North Carolina. He spends most of his time at the company’s warehouse, and only goes home when his girlfriend visits.
“When my girlfriend comes to town, I go home. It’s a lot easier to stay at the company because I don’t have to drive as much,” he said.
With plans to continue expanding his empire, MrBeast admits that he will eventually reap the financial rewards.
“I’m not naive, maybe someday I’ll be rich. But right now, whatever we make, we reinvest,” the YouTuber shared.
