YouTube's biggest star just made his first move into financial services. Beast Industries, the holding company owned by Jimmy "MrBeast" Donaldson, announced Monday it has acquired Step, a mobile banking app targeting teens and young adults. The deal marks a strategic shift for the 466-million-subscriber creator, who teased plans for a personal finance YouTube channel just months ago. With Step's Gen Z user base and MrBeast's unmatched reach among young audiences, the acquisition could reshape how the next generation thinks about money management.
Beast Industries is betting that MrBeast's reputation for giving away millions on camera translates into trust when managing teens' actual money. The company's acquisition of Step, announced Monday, represents the YouTuber's first serious play in fintech - and it comes at a moment when traditional banks are struggling to connect with Gen Z.
The timing isn't accidental. Just two months ago, Donaldson teased a new YouTube channel focused on personal finance and investing during one of his signature giveaway videos. With 466 million subscribers on his main channel, he commands more attention from young people than most financial institutions could dream of. Now he's got the infrastructure to turn that attention into actual banking relationships.
Step has carved out a niche in the crowded fintech space by focusing specifically on teens and young adults - demographics that legacy banks often overlook or burden with fees. The app offers no-fee banking accounts, early direct deposit, and financial literacy tools designed for users who've grown up with smartphones. Details of the acquisition, including purchase price and Step's current user base, weren't disclosed in the announcement.
