China Enters Bull Market Into Trade Talks: 3-Minute MLIV
Guy Johnson, Lizzy Burden and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
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26 minutes ago
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'I Literally Have Almost No Money'—MrBeast Shocks Fans by Borrowing Wedding Funds from His Mom
Jimmy Donaldson, better known as MrBeast, recently surprised fans by revealing on X that he's borrowing money from his mother to pay for his upcoming wedding. The disclosure comes despite an estimated $1 billion net worth and a business empire reportedly valued at $5 billion, highlighting a paradox of the creator economy: being asset-rich but cash-poor. "I literally have almost no money," MrBeast said in a June 2 post on X.. "I've just been reinvesting everything into content and 'literally' had to borrow money from my mom to help with my wedding lol." Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. This comes as his businesses—collectively known as Beast Industries—were reported by Bloomberg in February to be raising funds at a $5 billion valuation. "I think this year we'll spend around a quarter of a billion on content," Donaldson continued. According to Business Insider, his business generated just under $500 million in revenue last year. This high spending is driven by projects like MrBeast's Feastables snack brand and the Amazon Prime Video series, "Beast Games," which require substantial upfront capital. The show awarded a $10 million prize to its first-season winner—making it one of the most expensive game shows ever produced, Forbes reported. Despite financial constraints, Donaldson and his fiancée, Thea Booysen, are opting for an intimate, low-key wedding. "This will definitely be more family and friends—definitely more private. I don't take much vacation because of how hard I work... It will be the ultimate way to take some time away and enjoy things," MrBeast told People. Trending: Maximize saving for your retirement and cut down on taxes: . Booysen echoed the sentiment, telling the New York Post that they were considering holding the wedding on an island, away from public attention, and described the event as "nice but certainly intimate," focused on close family and friends. Goldman Sachs estimates that the creator economy could reach $480 billion by 2027, powered by more than 50 million active creators. However, MrBeast's experience illustrates that building billion-dollar ventures may come at the cost of short-term personal liquidity. Donaldson said on the "The Diary of a CEO" podcast that while he may be a billionaire "on paper," he has "less than a million dollars" in his actual bank account. Read Next: Invest where it hurts — and help millions heal:. The average American couple has saved this much money for retirement —? Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'I Literally Have Almost No Money'—MrBeast Shocks Fans by Borrowing Wedding Funds from His Mom originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Bloomberg
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Jamie Dimon Says Wells Fargo's Asset Cap Was ‘Grossly Unfair'
Wells Fargo & Co. 's Federal Reserve-imposed asset cap that restricted its size for more than seven years was 'grossly unfair,' said Jamie Dimon, longtime boss of its biggest rival. 'They went through a long, arduous road to get out of that thing,' JPMorgan Chase & Co. 's chief executive officer said at a conference Tuesday. 'Punishment should fit the crime, not be something you don't understand at all.'
CBS News
32 minutes ago
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Sacramento Railyards soccer stadium plan faces key city council vote
A key Sacramento city council vote deciding the future of Republic FC's new soccer stadium is set for Tuesday. Plans for Republic FC's new home, an expandable 12,000-seat facility, can't come to life without figuring out how to cover infrastructure in the area – things like roadways, pedestrian bike lanes, and traffic lights that the city estimates will to cost north of $90 million. Tuesday's vote will be to approve a special tax district that the city is looking to use to cover the cost. "I think this one is a good investment. We're not investing, subsidizing the stadium," said Sacramento Mayor Kevin McCarty. The Railyards development will cost an estimated $321 million at least, according to city numbers, with most of it privately funded, like Republic FC's stadium and the area around it. Developers of the project – including Indomitable Ventures, formed by Republic FC – would pay for the infrastructure costs up front, then be reimbursed through funds generated by the special tax district. "We're subsidizing the infrastructure by giving a return on property taxes that but for this project wouldn't be generated anyways," McCarty said. If approved by the council, the deal would commit the city to paying more than $90 million to the project developers in the form of future tax revenue from the soccer stadium and central shops. McCarty says construction would start this year if the plan passes. The stadium is planned to be opened by 2027.
