Earlier this month, MrBeast became the most subscribed account on YouTube for the first time. He accomplished that feat when his main YouTube channel topped 267 million subscribers, allowing him to surpass the former longstanding leader, Indian music channel T-Series. He has since added an additional 12 million subscribers, for a total of 279 million. And that's just on his main account! When you combine his half-dozen other channels, MrBeast's YouTube empire currently boasts 415 million collective subscribers.
But that's not the only accomplishment he can celebrate this month. By our estimation, MrBeast is now officially a billionaire.
At 26, he is one of the youngest billionaires on the planet. Out of all the billionaires in the world, only eight are younger. However! Out of the 16 billionaires in the world right now who are under the age of 30, only one did not inherit his or her fortune: Jimmy Donaldson. Aka, MrBeast.
MrBeast's billionaire status comes as a recently revealed corporate document sheds light on the absolutely stunning size of his growing empire. For example. We previously estimated that MrBeast earned around $80 million from his various sources in 2023. The real number, according to his own internal "Asset & Monetization Review" chart? $223 million. If that number is shocking, wait until you hear how much his business is on pace to gross in 2024, according to this same document. You might want to sit down as you keep reading…
(Photo by Chris Unger/Zuffa LLC via Getty Images)
A Booming Empire
As first reported by Puck.news, MrBeast's sprawling and booming empire is much, much, much more sprawling and booming than we (or anyone) previously estimated. The revelation comes thanks to a lawsuit MrBeast is currently embroiled in against a company called Virtual Dining Concepts (VDS) over his MrBeast Burger. Jimmy and VDS launched the burger in December 2020. In August 2023, Jimmy sued VDS claiming the company did not hold up its end of the bargain in producing a quality product. Instead, Jimmy's suit claimed VDS produced burgers that customers described as "disgusting," "inedible," and "revolting." From the lawsuit:
A week later, VDS counter-sued, claiming $100 million in damages:
"Donaldson's baseless and unlawful disparagement had the intended effect: MrBeast Burger's reputation was materially damaged if not destroyed, customers abandoned the Brand, Plaintiffs' hard-won relationships with vendors, partners, and suppliers were shattered, causing damages to Plaintiffs that, according to the evidence and Donaldson's own statements regarding the value of MrBeast Burger, are in the nine-figure range."
Asset & Monetization Review Chart
According to Puck reporter Eriq Gardner, Jimmy's legal team has been trying to convince the judge in the case to keep a series of internal business documents private. One document in particular, the aforementioned "Asset & Monetization Review" chart. His legal team was apparently not successful in their request. We've included a screenshot below.
At the top of the chart (next to the red arrow I added), you will see:
(FY23A|FY24E Revenue = $223M|$700M+)
In English, that means, in the Fiscal Year 2023 ACTUAL (completed, booked, done and dusted earnings), MrBeasts empire generated $223 million in gross revenue. That's nearly three times what we previously estimated he made in 2023.
The next part of that top line means, in the Fiscal Year 2024 ESTIMATED MrBeast's businesses are on pace to gross $700 million. Actually, that "+" symbol implies MORE THAN $700 million.
Holy shit. There really are no other words, so I'll say it again. Holy shit. To reiterate, as of February 2024, when this chart was made, MrBeast was on pace to generate $700 million in gross revenue in 2024. On an average monthly basis, that equates to $60 million.
Official Billionaire Status
In November 2022, Jimmy was reportedly meeting with venture capital investors to sell a 10% stake in his company for $150 million. That would have valued his business overall at $1.5 billion. No investment was ever officially confirmed, and at the time those numbers seemed a bit other-worldly. They may not have been. We now know that in the year after he was reportedly having those VC conversations, MrBeast made $223 million. And even if his business "only" generates $500 million in 2024, that $1.5 billion valuation would be totally reasonable.
If MrBeast operates at just a 30% margin, that would be $150 million in profit on $500 million in revenue. With his growth rate, how could his business NOT earn a 10x profit multiple? That would once again back into a $1.5 billion valuation. And keep in mind, I'm being conservative here! His own internal documents estimate $700M+ in 2024. If he generates $700m in 2024, at a 30% margin, that's $210 million in profit. Using a 10X EBITDA multiple, that would value his business at $2.1 billion. So it's very possible that Jimmy is either currently, or will very soon actually be not a billionaire, but a MULTI-billioniare. Either way, he is officially a billionaire today.
Read more: MrBeast Is Now Officially A Billionaire
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