YouTube star MrBeast buys Step, a banking app with 7 million users, to promote financial literacy among Gen Z.
New York: YouTube’s biggest creator, known as MrBeast, announced his company Beast Industries is buying Step.
Step is an app that helps teenagers with banking. It lets them build credit, save money, and invest. The app has over 7 million users and raised $500 million from investors.
MrBeast, whose real name is Jimmy Donaldson, wants to help young people learn about money. “Nobody taught me about investing or managing money when I was growing up,” he said at age 27.
Popular celebrities like Charli D’Amelio, Will Smith, and athletes invested in Step before. Large investment companies that back Step include General Catalyst, Stripe, and others.
This smart business move gives MrBeast more ways to reach young people. His YouTube channel has over 466 million subscribers, making him the most-followed creator online.
Beest Industries makes money from many things besides YouTube. Their chocolate brand Feastables brings in more profit than the YouTube channel or their Amazon show “Beast Games.”
Other Beast Industries projects like Lunchly and MrBeast Burger have not done as well. However, this new partnership with Step could help teach millions of young people about money.