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MrBeast’s $5 billion empire runs on generosity—but at a cost

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Most would probably lose steam before they even got to 100. But for Jimmy Donaldson, better known as MrBeast, that was the whole point. The seemingly impossible stunt was the subject of one the then-18-year-old’s first-ever YouTube videos.

Little did he know the domino effect such videos would set off. Now 27, Donaldson sits atop an online content empire: With 435 million YouTube subscribers and over 95 billion lifetime views, he’s among the internet’s biggest stars worldwide. His accomplishments reach far beyond viral videos: They include a nine-figure Amazon TV deal, a multimillion-dollar snack company, and even a forthcoming novel co-authored with James Patterson.

Donaldson’s meteoric ascent has given him ambitions of building a diversified entertainment empire, one he hopes one day rivals Disney. But it hasn’t all been driven by daily vlogs or video game livestreams like other content creators. Much of MrBeast’s content reflects a simple but profound focus: showing the impact of generosity.

That mission has defined not only his content, but some of his business ventures. His most-watched videos include posts that feature him cleaning up the world’s dirtiest beaches, building wells in Africa, and giving away homes. Beyond YouTube, through his nonprofit Beast Philanthropy, Donaldson has given away over $300 million worth of food (about 42 million meals), donated $5 million in aid to Ukrainian refugees, and provided $500,000 in school supplies and technology. He’s also funded 2,000 prosthetics, 100 cleft palate repairs, and 600 e-bikes for people in need.

Most recently, Donaldson teamed with up fellow creator Mark Rober for #TeamWater, a campaign providing clean drinking water across Africa and southeast Asia. The effort raised over $41 million—drawing support from more than 100,000 individuals donors. While the average individual contribution was under $4, major companies like Google, TikTok, and Accenture stepped in with multimillion-dollar gifts.

This commitment to large-scale giving has become a defining feature of both Donaldson’s content and his corporate strategy, led by Beast Industries CEO Jeff Housenbold, a veteran of Silicon Valley who came onboard to run the company last year.

While the donations are inherently worthwhile, Donaldson and his team are confident that they also drive audience growth—attracting watchers who might not otherwise be drawn to the content, and helping the whole enterprise generate more revenue. Such efforts to embrace social responsibility have helped Beast Industries earn a spot on Fortune’s 2025 Change the World list.

“We’re really leaning into how we use the MrBeast platform to create positive impact. We’re a for-profit company, but we’re also altruistic,” Housenbold told Fortune. “The question we ask ourselves is, ‘Can we combine capitalism and altruism in a way that’s a win-win?’ We believe the answer is yes.”  

Building an over $5 billion empire—one video at a time

Scaling generosity at MrBeast’s level has been neither easy nor cheap—but his sharp business instincts as a teenager laid the foundation.

In August 2017, just seven months after his viral counting video, he partnered with Quidd, a now-defunct digital collectibles app, to launch a series of generosity-driven videos—handing huge bundles of cash to Twitch streamers, pizza delivery guys, Uber drivers. At just 19 years old, Donaldson had recently dropped out of East Carolina University after only two weeks, choosing to focus full-time on editing videos.

Years later, profitability remains a challenge. Beast Industries has operated at a net loss for the last three years in a row, according to Bloomberg. Some of the biggest recent expenses came from producing his Amazon Prime reality show Beast Games. The show, which was filmed across three countries, featured stunts and contests that broke 44 Guinness World Records, including the largest prize fund awarded on a competitive reality TV show ($10 million). But total production costs reportedly exceeded $100 million for the 10 episode-season.

“It was not a good financial decision to make Beast Games,” Donaldson admitted on The Diary of a CEO podcast earlier this year. “I lost money. I would have more money if I didn’t film it.”

While it didn’t help the show’s bottom line for Donaldson to up the grand prize from $5 million to $10 million, he and his investors continue to believe thatkind of generosity will all be worth the risk. “Money isn’t everything—building and managing it is infinitely harder,” Donaldson added on the podcast.

The MrBeast media arm, including his YouTube channels and TV show, earned an estimated $250 million in revenue in 2024 but posted a net loss of nearly $80 million, according to Bloomberg. The red ink was partially offset by Feastables. Launched in 2022, the chocolate products are found in Walmart, Target, and 7/11 stores in the U.S. and more than a dozen other countries. Feastables earned revenue comparable to MrBeast’s media portfolio, but it produced a profit of more than $20 million. 

And while the snack market is crowded, Donaldson has found a lane that screams fun—with bright packaging and bubbly fonts—as well as impact. The chocolate is 100% fair-trade certified, and Donaldson’s has publicly declared his challenge to the “status quo of the big chocolate sector” which has allowed child labor to thrive. “I know we can create chocolate that people can afford and that also pays farmers fairly, so kids don’t have to work,” Donaldson said in a press release.

MrBeast has noted that “on paper” he could be considered a billionaire, largely due to the valuation of his various brands and income streams from additional ventures like Lunchly snack kits, analytics platform Viewstats, and MrBeast Burger. In reality, however, he has said he keeps “very little money” on hand and even borrowed from his mother to help cover his wedding expenses. Forbes estimated his annual earnings between April 2024 and April 2025 at $85 million.

Last year, Beast Industries raised money at a roughly $5 billion valuation, according to Bloomberg, signaling immense investor confidence in Donaldson’s blend of viral business and social impact.

MrBeast’s operations under a microscope

Donaldson has not been immune to controversy. One group of contestants on his Amazon series, Beast Games, have filed a lawsuit claiming there to be dangerous conditions on the set; that case is still ongoing, but Donaldson and Amazon have asked the court to dismiss it. Separately, one longtime channel collaborator was accused of sexual misconduct; no legal action was filed in that instance, and a law firm commissioned by Donaldson found those misconduct accusations to be baseless.

Despite the scrutiny, Donaldson’s popularity has hardly wavered; he’s gained more than 100 million YouTuber subscribers in the last year.

But that acceleration may not last forever, according to Bill Zimmerman, a professor at Penn State University studying the creator economy. At some point, there will likely be a ceiling, he said, noting to Fortune that some of Donaldson’s extreme, challenge-based videos can be divisive.

“I think some of these viral videos outside of the philanthropy space can be off-putting to a lot of people because of the focus on putting people through physical challenges to win prizes,” Zimmerman said, pointing to a recent video that challenged a pilot to live on a private jet for 100 days, where he faced challenges like no shower, no bed, and limited food. 

“Those things are highly watchable, but I think these big videos that just rack up the views, also present this voyeuristic situation where you’re watching somebody push their physical limits,” Zimmerman added. And when it comes to philanthropic videos, Zimmerman said it can be difficult to separate questions about underlying motives when Donaldson has profited from being generous.

Donaldson’s CEO Housenbold challenges that generosity and profitability can, and do, exist together.

“We want to make kindness viral through the voices of the global community of influencers and their fans,” Housenbold said “We also want to welcome other companies, non-profits, and governmental agencies to join us on the journey of making lasting change.”

Or, as Donaldson himself summarized on The Diary of a CEO podcast earlier this year:  “A world where I help people is just more fun than a world where I don’t.”



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Epstein grand jury documents from Florida can be released by DOJ, judge rules

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A federal judge on Friday gave the Justice Department permission to release transcripts of a grand jury investigation into Jeffrey Epstein’s abuse of underage girls in Florida — a case that ultimately ended without any federal charges being filed against the millionaire sex offender.

U.S. District Judge Rodney Smith said a recently passed federal law ordering the release of records related to Epstein overrode the usual rules about grand jury secrecy.

The law signed in November by President Donald Trump compels the Justice Department, FBI and federal prosecutors to release later this month the vast troves of material they have amassed during investigations into Epstein that date back at least two decades.

Friday’s court ruling dealt with the earliest known federal inquiry.

In 2005, police in Palm Beach, Florida, where Epstein had a mansion, began interviewing teenage girls who told of being hired to give the financier sexualized massages. The FBI later joined the investigation.

Federal prosecutors in Florida prepared an indictment in 2007, but Epstein’s lawyers attacked the credibility of his accusers publicly while secretly negotiating a plea bargain that would let him avoid serious jail time.

In 2008, Epstein pleaded guilty to relatively minor state charges of soliciting prostitution from someone under age 18. He served most of his 18-month sentence in a work release program that let him spend his days in his office.

The U.S. attorney in Miami at the time, Alex Acosta, agreed not to prosecute Epstein on federal charges — a decision that outraged Epstein’s accusers. After the Miami Herald reexamined the unusual plea bargain in a series of stories in 2018, public outrage over Epstein’s light sentence led to Acosta’s resignation as Trump’s labor secretary.

A Justice Department report in 2020 found that Acosta exercised “poor judgment” in handling the investigation, but it also said he did not engage in professional misconduct.

A different federal prosecutor, in New York, brought a sex trafficking indictment against Epstein in 2019, mirroring some of the same allegations involving underage girls that had been the subject of the aborted investigation. Epstein killed himself while awaiting trial. His longtime confidant and ex-girlfriend, Ghislaine Maxwell, was then tried on similar charges, convicted and sentenced in 2022 to 20 years in prison.

Transcripts of the grand jury proceedings from the aborted federal case in Florida could shed more light on federal prosecutors’ decision not to go forward with it. Records related to state grand jury proceedings have already been made public.

When the documents will be released is unknown. The Justice Department asked the court to unseal them so they could be released with other records required to be disclosed under the Epstein Files Transparency Act. The Justice Department hasn’t set a timetable for when it plans to start releasing information, but the law set a deadline of Dec. 19.

The law also allows the Justice Department to withhold files that it says could jeopardize an active federal investigation. Files can also be withheld if they’re found to be classified or if they pertain to national defense or foreign policy.

One of the federal prosecutors on the Florida case did not answer a phone call Friday and the other declined to answer questions.

A judge had previously declined to release the grand jury records, citing the usual rules about grand jury secrecy, but Smith said the new federal law allowed public disclosure.

The Justice Department has separate requests pending for the release of grand jury records related to the sex trafficking cases against Epstein and Maxwell in New York. The judges in those matters have said they plan to rule expeditiously.

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Sisak reported from New York.



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Miss Universe co-owner gets bank accounts frozen as part of probe into drugs, fuel and arms trafficking

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Mexico’s anti-money laundering office has frozen the bank accounts of the Mexican co-owner of Miss Universe as part of an investigation into drugs, fuel and arms trafficking, an official said Friday.

The country’s Financial Intelligence Unit, which oversees the fight against money laundering, froze Mexican businessman Raúl Rocha Cantú’s bank accounts in Mexico, a federal official told The Associated Press on condition of anonymity because he was not authorized to comment on the investigation.

The action against Rocha Cantú adds to mounting controversies for the Miss Universe organization. Last week, a court in Thailand issued an arrest warrant for the Thai co-owner of the Miss Universe Organization in connection with a fraud case and this year’s competition — won by Miss Mexico Fatima Bosch — faced allegations of rigging.

The Miss Universe organization did not immediately respond to an email from The Associated Press seeking comment about the allegations against Rocha Cantú.

Mexico’s federal prosecutors said last week that Rocha Cantú has been under investigation since November 2024 for alleged organized crime activity, including drug and arms trafficking, as well as fuel theft. Last month, a federal judge issued 13 arrest warrants for some of those involved in the case, including the Mexican businessman, whose company Legacy Holding Group USA owns 50% of the Miss Universe shares.

The organization’s other 50% belongs to JKN Global Group Public Co. Ltd., a company owned by Jakkaphong “Anne” Jakrajutatip.

A Thai court last week issued an arrest warrant for Jakrajutatip who was released on bail in 2023 on the fraud case. She failed to appear as required in a Bangkok court on Nov. 25. Since she did not notify the court about her absence, she was deemed to be a flight risk, according to a statement from the Bangkok South District Court.

The court rescheduled her hearing for Dec. 26.

Rocha Cantú was also a part owner of the Casino Royale in the northern Mexican city of Monterrey, when it was attacked in 2011 by a group of gunmen who entered it, doused gasoline and set it on fire, killing 52 people.

Baltazar Saucedo Estrada, who was charged with planning the attack, was sentenced in July to 135 years in prison.



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Elon Musk’s X fined $140 million by EU for breaching digital regulations

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European Union regulators on Friday fined X, Elon Musk’s social media platform, 120 million euros ($140 million) for breaches of the bloc’s digital regulations, in a move that risks rekindling tensions with Washington over free speech.

The European Commission issued its decision following an investigation it opened two years ago into X under the 27-nation bloc’s Digital Services Act, also known as the DSA.

It’s the first time that the EU has issued a so-called non-compliance decision since rolling out the DSA. The sweeping rulebook requires platforms to take more responsibility for protecting European users and cleaning up harmful or illegal content and products on their sites, under threat of hefty fines.

The Commission, the bloc’s executive arm, said it was punishing X because of three different breaches of the DSA’s transparency requirements. The decision could rile President Donald Trump, whose administration has lashed out at digital regulations, complained that Brussels was targeting U.S. tech companies and vowed to retaliate.

U.S. Secretary of State Marco Rubio posted on his X account that the Commission’s fine was akin to an attack on the American people. Musk later agreed with Rubio’s sentiment.

“The European Commission’s $140 million fine isn’t just an attack on @X, it’s an attack on all American tech platforms and the American people by foreign governments,” Rubio wrote. “The days of censoring Americans online are over.”

Vice President JD Vance, posting on X ahead of the decision, accused the Commission of seeking to fine X “for not engaging in censorship.”

“The EU should be supporting free speech not attacking American companies over garbage,” he wrote.

Officials denied the rules were intended to muzzle Big Tech companies. The Commission is “not targeting anyone, not targeting any company, not targeting any jurisdictions based on their color or their country of origin,” spokesman Thomas Regnier told a regular briefing in Brussels. “Absolutely not. This is based on a process, democratic process.”

X did not respond immediately to an email request for comment.

EU regulators had already outlined their accusations in mid-2024 when they released preliminary findings of their investigation into X.

Regulators said X’s blue checkmarks broke the rules because on “deceptive design practices” and could expose users to scams and manipulation.

Before Musk acquired X, when it was previously known as Twitter, the checkmarks mirrored verification badges common on social media and were largely reserved for celebrities, politicians and other influential accounts, such as Beyonce, Pope Francis, writer Neil Gaiman and rapper Lil Nas X.

After he bought it in 2022, the site started issuing the badges to anyone who wanted to pay $8 per month.

That means X does not meaningfully verify who’s behind the account, “making it difficult for users to judge the authenticity of accounts and content they engage with,” the Commission said in its announcement.

X also fell short of the transparency requirements for its ad database, regulators said.

Platforms in the EU are required to provide a database of all the digital advertisements they have carried, with details such as who paid for them and the intended audience, to help researches detect scams, fake ads and coordinated influence campaigns. But X’s database, the Commission said, is undermined by design features and access barriers such as “excessive delays in processing.”

Regulators also said X also puts up “unnecessary barriers” for researchers trying to access public data, which stymies research into systemic risks that European users face.

“Deceiving users with blue checkmarks, obscuring information on ads and shutting out researchers have no place online in the EU. The DSA protects users,” Henna Virkkunen, the EU’s executive vice-president for tech sovereignty, security and democracy, said in a prepared statement.

The Commission also wrapped up a separate DSA case Friday involving TikTok’s ad database after the video-sharing platform promised to make changes to ensure full transparency.

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AP Writer Lorne Cook in Brussels contributed to this report.



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