Jimmy Donaldson, widely known online as MrBeast, is making a new move outside of his usual digital content creation by acquiring Step, a financial technology startup focused on providing banking tools to Generation Z. This acquisition adds a fintech arm to Beast Industries, Donaldson’s quickly diversifying business venture. As MrBeast seeks to leverage his massive online influence—now surpassing 460 million subscribers on YouTube—the new acquisition signals growing interest from content creators in financial education and youth-focused financial products. With financial literacy still a challenge for many young people, Donaldson’s entry may encourage broader awareness and practical resources in the sector.
When MrBeast filed a trademark for “MrBeast Financial” in October, public discussions speculated on his plans but often focused on a potential celebrity-branded product rather than meaningful banking access for youth. Reports highlighted that similar digital-first banks struggled to capture and retain young users over time, even when linked to notable figures or streamlined apps. Now, with the acquisition of Step—an app that explicitly targets under-18s with real tools for learning credit and managing money—Beast Industries is positioned to bridge that credibility gap. Step’s history of attracting backers like NBA star Stephen Curry and actors Will Smith and Charli D’Amelio shows it stands out for industry support, yet lacked the level of built-in audience Donaldson brings. This development introduces a new scale of influence that previous ventures did not achieve.
Why Did MrBeast Buy Step?
Donaldson cites personal experience as a motivator, emphasizing gaps in financial education during his youth. By incorporating Step into Beast Industries, he aims to equip millions of younger users with early exposure to banking and investment concepts. As he stated:
Nobody taught me about investing, building credit, or managing money when I was growing up.
His approach merges financial services with a platform already known for youth-centric philanthropy and high-engagement content, seeking to normalize responsible money management through the kind of viral storytelling his brand has established.
What Does Step Offer Young Users?
Step allows individuals under 18 to open bank accounts and use credit cards, introducing them to fundamental financial activities before adulthood. With over seven million customers, it claims to simplify personal finance while promoting safe financial habits. Co-founder CJ MacDonald commented,
Our goal has always been to improve the financial future of the next generation.
Step’s design and integration into broader Beast Industries initiatives may facilitate easier access to practical money skills, especially given the heavy digital consumption habits of Gen Z.
How Will This Affect Beast Industries’ Growth?
Step’s acquisition comes on the heels of Beast Industries’ recent $200 million investment round and expanding roster—which already includes Feastables snacks, a toy business, and the “Beast Games” series on Amazon Prime. With digital banking, Beast Industries now deepens its reach into services beyond content and merchandise. Step will reportedly operate independently within the portfolio for now, but the integration of MrBeast’s audience could significantly increase Step’s market share among young people. Plans for a future mobile phone service and a marketing marketplace further underline Beast Industries’ strategy of creating varied, interconnected offerings under a unified brand.
The acquisition of Step by Beast Industries reflects a broader shift in how young audiences encounter financial tools. While digital banking apps targeting teens are not new, MrBeast’s unparalleled online footprint could alter customer acquisition dynamics and user engagement within this sector. For readers interested in youth financial literacy or fintech businesses, this case illustrates the importance of influential brands in driving early adoption. The intersection of financial education and digital entertainment is likely to expand, raising important questions about content, responsibility, and effectiveness in genuine learning outcomes. Staying informed about these developments can help guardians and youths navigate the options available and encourage conversations about money early on.
