Inside the business of MrBeast

The biggest YouTuber in the world is looking beyond videos to build a multibillion-dollar empire.

For the last several months, Jimmy Donaldson, aka MrBeast, has been talking with investors about raising $200 million in a funding round that would value his holding company, Beast Industries, at more than $5 billion. An investor pitch deck I’ve obtained gives an unprecedented look at the fast-growing, money-losing business of MrBeast and his future plans. (Bloomberg’s Lucas Shaw first reported that MrBeast is raising money last week.)

To justify that eye-popping valuation of at least $5 billion, investors are betting that the future of MrBeast’s business will be selling physical products, not making videos. Beast Industries and its roughly 500 employees see future revenue growth coming from a series of consumer packaged goods (CPG). Revenue from the company’s chocolate brand, Feastables, matched the core video business in 2024 and is expected to exceed it this year.

Meanwhile, Beast Industries has never been profitable and doesn’t expect to be anytime soon. The company lost roughly $200 million over the last few years alone. Investors are planning to buy tens of millions of dollars worth of shares from employees and other existing shareholders in this round, which will allow insiders to cash out some of their stakes in the company.

Aside from Feastables, MrBeast has a bevy of new products coming in the next few years, including beverages, a snacks brand, and a cereal brand. He’s also planning to launch a mobile gaming division next year. Management is telling investors to expect an initial public offering in two to three years.

Other takeaways from the pitch deck:

These numbers show how MrBeast is running his company like his YouTube channel by spending everything he makes to fuel more topline growth. During a recent interview on the Diary of a CEO podcast, Donaldson said he’s “reinvesting every dollar I make” and admitted to having “less than a million dollars” in his bank account.

For now, the strategy seems to be working. Even if he has hit the ceiling of what a creator can make from YouTube, Feastables is taking off. He’s the second-most-followed person in the world after Cristiano Ronaldo. And, while it was wildly expensive to make, his recent Beast Games reality show is already Amazon’s most-watched unscripted series ever.

In an emailed statement, spokesperson Matthew Hiltzik confirmed that Beast Industries is raising money and using “the unique reach of the MrBeast platform to build big, sustainable, revenue generating businesses. Thankfully there is strong interest from a wide range of investors and potential partners and we are raising hundreds of millions on a more than $5B valuation to help realize these many different opportunities.”

Now, it’s a matter of which investors are willing to bet on MrBeast transforming himself from the biggest YouTube star to a CPG mogul. Given his penchant for spending money to drive buzz, there’s also the question of how — and if — his company will turn a profit.

For his part, Donaldson doesn’t seem fazed by the stakes of what he’s building. “I don’t really feel risk,” he said during the recent podcast. “If anything, risk excites me. I have a high threshold for it.”

Some noteworthy job changes in the tech world:

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