MrBeast has made the shock admission that he is not rich, despite making over £550 million a year.
In a recent interview with Time, MrBeast – Jimmy Donaldson to his mum – said he isn’t rich, in spite of the eye-watering amount of money he makes each year.
When asked if he thinks he’s rich, he said: “I mean, not right now.
“I’m not naive; maybe one day.
“Each video does a couple million in ad revenue, a couple million in brand deals.”
With earnings apparently in the region of $600 million and $700 million (£476 million and £556 million) per year, he claims he doesn’t spend any of it on himself.
YouTube / MrBeast
He said: “Right now, whatever we make, we reinvest.
“I’ve reinvested everything to the point of—you could claim—stupidity, just believing that we would succeed. And it’s worked out.”
Unofficially known as the giveaway king, MrBeast’s biggest giveaway in a video was a $2,500,000 (£1,986,00) private jet – and while some would say it was just for the sake of views – it seems that the YouTuber has contributed towards some important causes too.
He once gave away an estimated $5,000,000 (£3,971,000) to help 2000 amputees walk again and also $2,700,000 (£2,144,000) in clothes to disadvantaged people.
Not to mention a food giveaway worth $1,000,000 (£794,000) during the pandemic.
At the start of 2022, it was announced MrBeast officially became the platform’s highest earning YouTuber in history.
But for those wondering how he got started, in a 2022 interview with FULL SEND PODCAST, MrBeast let us in on how he started making money on YouTube.
YouTube / MrBeast
His first brand deal was worth $5,000 (£4,400), which is nothing compared to what he’s on now, but instead of splashing the cash, he thought of a brilliant way of getting more views.
The YouTuber would smartly give his brand deal money away to a stranger and video himself doing it.
He explained: “So the first time I got a brand deal is 10 grand, well it’s five grand, and I was like double it and I’ll go give it away.
“So I literally I just gave away all my brand deals every single time I got one so I did that and the next time.
“I just literally, I would just do a brand deal give it away and then the next brand deal was bigger and I just did that for like two years straight.”
A risky strategy for sure, but it certainly paid off.
Featured Image Credit: YouTube / MrBeast
Source MrBeast makes £550 million per year but doesn’t keep any for himself
