Popular YouTuber and philanthropist Jimmy ‘MrBeast’ Donaldson has invested in fintech company Current and is giving away $100,000 to mark the occasion.
While the financial terms of the investment have not been disclosed, a press release states that MrBeast has entered an “exclusive, long-term partnership” with the company.
Current are known for their mobile banking products that aim to “enable members to change their lives by creating better financial outcomes” across the United States.
To kick off the partnership, MrBeast announced that he would be giving away $100,000 to 100,000 fans in a recent video. Fans will receive money directly on Current’s platform and can redeem free points to receive exclusive collaborative merchandise from both parties.
As expected with a business dealing that involves the philanthropic content creator, the agreement plans “many large-scale integrations” that not only promote Current but reward his viewers.
- Read More: How does MrBeast make money?
While he claims that he keeps very little of the income generated through his main channel, which sees almost every video go viral online, MrBeast has enough money to invest in companies.
He invested in Juice, a company that provides equity financing to YouTubers, in March 2021. In addition to serving as an advisor for the company, he launched his own fund to invest in creators he sees potential in.
We're excited to announce Current and @MrBeast's long-term, exclusive partnership and investment, which allows for a commitment to building integrating products together and will give MrBeast a new platform to create content and give back to more people. https://t.co/6IN88Q2jA0 pic.twitter.com/HnSZZpHWeC
— Current (@current) April 26, 2021
Night Media, the talent management company which represents MrBeast, recently started a $20m venture fund that will invest up to $300,000 into startups that occupy the gaming and digital content creation industries, as well as the larger creator economy.
“I’ve always been passionate about producing great content and giving back to the community, and Current is the perfect partner to support me in both efforts,” said the YouTuber. “I’m excited to be working together and look forward to producing awesome content that will help even more people.”
MrBeast’s business ventures
MrBeast is a busy man, not running one YouTube channel but six. His main channel is a loss leader for him, generating revenue that is then put back into his content to create bigger and better videos. As well as earning ad revenue and sponsorship dollars that way, MrBeast has plenty on the go.
He has bespoke clothing lines that range from his standard ‘Beast’ apparel to gaming-specific designs, his MrBeast Burger venture is only growing, he’s planning an exclusive membership club that offers exclusive perks to subscribers, and he’s seen plenty of engagement in his gameshow-esque mobile games too.