In a move that blends viral entertainment with financial innovation, Jimmy Donaldson, better known as MrBeast, has expanded his empire through Beast Industries by acquiring Step, a fintech app tailored for teenagers and young adults. Announced on February 9, 2026, this acquisition aims to integrate Step's financial tools with MrBeast's massive platform, focusing on promoting financial literacy and wellness for the next generation.
With over 466 million YouTube subscribers, MrBeast sees this as an opportunity to provide the financial education he lacked growing up, stating, "Nobody taught me about investing, building credit, or managing money when I was growing up. That's exactly why we're joining forces with Step!"
Step, founded in 2018, is an all-in-one money app designed primarily for teens, featuring robust parental controls to ensure safe usage. The app boasts over 7 million users, a figure that has grown steadily thanks to its user-friendly interface and focus on building healthy financial habits early. Backed by high-profile investors including NBA star Stephen Curry, actor Will Smith, musician Justin Timberlake, TikTok sensation Charli D’Amelio, and The Chainsmokers, Step has raised over $500 million in funding, achieving a valuation of around $1 billion in 2021. Venture firms like General Catalyst, Coatue, and Stripe have also invested, underscoring the app's credibility in the fintech space.
Key features of Step make it particularly appealing for young users. It offers commission-free trading of stocks and ETFs, allowing teens to dip into investing without barriers. Users can earn up to 10% cashback on purchases with the premium Step Black tier, with no limits on total rewards, turning everyday spending into savings opportunities.
Additionally, the app provides quick access to cash advances or loans when needed, alongside tools for building credit through a Visa debit card — even for those under 18, with parental oversight. Savings accounts yield 3% interest, and all deposits are FDIC-insured up to $1 million through partnerships like Evolve Bank & Trust.
These elements emphasize financial education, with in-app resources on budgeting, credit scores, and money management. On average, Step users in their 20s see their credit scores rise by 57 points within a year.
This acquisition comes at a pivotal time for MrBeast's business ventures. Beast Industries, encompassing his YouTube content, Feastables chocolate brand, and other initiatives, reported $250 million in revenue for 2024—a 125% increase from the previous year.
Projections show overall revenue climbing to $900 million in 2025 and $1.6 billion in 2026, driven largely by the commerce division's 160% growth in 2024, with Feastables leading the charge and new consumer packaged goods brands on the horizon.
However, despite these impressive figures, the company remains unprofitable. High production costs in the content division consume over 90% of its revenue, fueled by MrBeast's signature extravagant videos.
This high-stakes approach mirrors the intensity of MrBeast's famous recreations, such as his 2021 "$456,000 Squid Game In Real Life!" video, which cost $3.5 million to produce and garnered over 142 million views in its first eight days. In that project, he rebuilt sets from the Netflix series "Squid Game," pitting 456 contestants against each other in non-lethal games for a massive cash prize, all sponsored by brands like Brawl Stars.
The video exemplified his "reach machine" model—prioritizing audience growth over budgets—but it also highlights the financial risks involved. Critics noted the irony, as "Squid Game" critiques wealth inequality, yet MrBeast's version turned it into a spectacle of performative philanthropy.
Now, under new CEO Jeffrey Housenbold (formerly of SoftBank), Beast Industries is shifting gears toward sustainability. Cost-cutting measures include detailed budget analyses for videos, reusing sets, bartering props, avoiding retail purchases (like no more outright buying Teslas for giveaways), boosting ad rates by 65%, and leveraging AI for automation without expanding the 350+ employee workforce. This maturation reflects a broader evolution from viral stunts to a diversified empire, with fintech as the latest frontier.
The Step acquisition could be a game-changer, leveraging MrBeast's young audience to slash customer acquisition costs to near zero—traditional banks spend heavily here, but a single YouTube video could onboard millions.
Some speculate it might even pave the way for crypto integration, given a recent $200 million deal with BitMine and trademarks for "MrBeast Financial" including DEX and crypto payments. As one X post noted, "Customer Acquisition Cost (CAC) for 'Step' just went to zero. This is a brilliant move. Legacy banks should be terrified."
Yet, diving fully into this "Squid Game" of business — high risks, big rewards — raises questions about long-term viability. Will integrating Step help Beast Industries turn profitable, or is it another extravagant bet? Only time will tell, but with MrBeast's track record, it's bound to be entertaining.
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