Jimmy Donaldson, popularly known as MrBeast, is reportedly looking to raise hundreds of millions of dollars in a funding round that would value his business empire at approximately $5 billion.
What Happened: MrBeast is in talks with financial firms and high-net-worth individuals to secure investment for his growing business empire, reported Bloomberg, citing people familiar with the matter.
Donaldson’s business, which includes brands like Feastables and Lunchly, generated over $400 million in sales last year. He reportedly aims to expand his packaged goods and media ventures.
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Why It Matters: MrBeast's Amazon Prime reality series, "Beast Games," cost him personally. "I lost tens of millions of dollars," he admitted on the Diary of a CEO podcast, adding that he overspent to make Season 1 as strong as possible.
Amazon, which committed $100 million for the first season, has agreed to produce additional seasons but is still negotiating the budget.
During the same podcast, the YouTube sensation admitted being a billionaire "on paper," but said he has less than a million dollars in his bank account.
Previously, it was reported that MrBeast is exploring business opportunities, including a potential acquisition of TikTok.
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This article MrBeast Lost Millions On Amazon's 'Beast Games'—Now He's Looking To Raise Hundreds Of Millions To Take His Brand To The Next Level originally appeared on Benzinga.com
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