YouTuber MrBeast has explained why he has ‘less than a million dollars in the bank’, despite just recently being able to give the winner of his Beast Games show a staggering $10,000,000.
He might only be 26-years-old – *sobs* – but MrBeast, aka Jimmy Donaldson, has amassed a net worth of $1 billion, according to Celebrity Net Worth. That’s like having a salary of more than $38 million every year since birth.
MrBeast has achieved his wealth through his work on YouTube, where he’s successfully earned the title of the most-subscribed creator on the platform thanks to his videos in which he often gives his viewers the chance to win huge prizes – as long as they can get through whatever challenge he’s set first.
More recently he ventured out into the world of TV with his series Beast Games, which gave contestants the chance to win $5 million, and towards the end of the show he upped the stakes to offer a prize of $10 million.
His habit of giving out huge amounts of money indicates MrBeast has a lot of cash to play with, but in a recent interview with Steven Bartlett on the Diary of a CEO podcast the YouTuber explained that his wealth isn’t quite the huge pile of cash you might imagine.
During the interview Bartlett asked if MrBeast was a ‘billionaire’, to which he replied: “On paper, yeah.”
He then added: “But I mean in my actual bank account, I have less than a million dollars.”
MrBeast said he’s a billionaire ‘on paper’ (Rich Storry/Getty Images)
MrBeast went on to explain the workings around his income, saying he pays himself ‘a little bit’ to ensure he has enough money to cover his regular monthly costs, as well as to pay his staff members.
When it comes to the bigger picture, however, the YouTuber said he considers money as ‘fuel to grow business’.
He explained: “You find a business that you enjoy, that is better for Mother Nature or Earth or people, and there you go, you have a fulfilled life. That’s my theory. When I’m 70 I don’t want to look back and have regrets.”
Elsewhere in the interview, MrBeast spoke about Beast Games and revealed that he’d invested $50 million into the series – which then lost ‘tens of millions’.
The show proved to be a hit with viewers, however MrBeast admitted that spending ‘way too much’ money on the series ended up costing him, adding: “I’m an idiot.”
