- MrBeast buys Step to teach teenagers how to save, spend and invest
- Step offers a Visa card and basic banking services with no monthly fees
- The acquisition gives Beast Industries a fintech team and seven million users
Beast Industries has confirmed the acquisition of Step, a youth-focused financial planning app, adding a regulated money product to its expanding list of business ventures.
Beast Industries, controlled by Jimmy Donaldson, popularly known as MrBeast, the world’s largest YouTuber by subscribers, looks to expand its operations beyond entertainment and media into financial services.
The deal follows a year of fundraising by Beast Industries, including a $200 million investment from Bitmine Immersion Technologies, a company closely tied to the cryptocurrency markets through its Ether holdings.
What Step actually does
Step was founded in 2018 by fintech veterans CJ MacDonald and Alexey Kalinichenko, with an emphasis on financial literacy for younger users.
The platform is not a licensed bank, but instead relies on a partnership with Evolve Bank & Trust for regulated banking services established in 2022.
Step offers a Visa card along with tools to save, spend, send money and basic investing with no monthly fees.
Backing from Stripe and major venture capital firms gives the app credibility in fintech circles, regardless of its new ownership.
Beast Industries says Step has more than seven million users and an in-house fintech team that matches its digital reach and charitable ambitions.
The company already operates Feastables, Beast Philanthropy and Beast Games, all of which are closely tied to Donaldson’s massive online presence, with over 450 million subscribers and billions of monthly views as of early 2026.
From a distribution point of view, exposure to a young audience is not a problem. The logic suggests that financial tools can be scaled quickly through the existing reach.
In a statement Monday to his millions of fans, Mr. Beast the reasons behind his acquisition and his goal to help young people build financial skills.
“No one taught me about investing, building credit or managing money growing up. That’s exactly why we’re joining Step,” said MrBeast.
“I want to give millions of young people the financial foundation I never had. Lots to share soon.”
While this statement offers some explanation, it does not fully answer why a global entertainment brand should convey financial behavior to millions of young users.
Step is marketed as a way to build credit and money habits early, which sounds straightforward but has regulatory, ethical and trust implications.
“This acquisition positions us to meet our audience where they are, with practical, technology-driven solutions that can transform their financial future for the better,” Jeff Housenbold, CEO of Beast Industries, said in a statement.
The app will operate under Beast Industries, effectively tying personal finance to a creator-led brand.
At the time of writing, there is no information on how much was paid for the app, and no timeline was given for operational changes after the purchase.
Via CNBC
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