MrBeast's show includes $4.2M giveaway with app critics say may trap other borrowers with high fees
MrBeast’s ambitious reality show, which the YouTube megastar hopes will expand his massive online reach and turn the corner on recent controversies, is already raising questions from consumer advocates over a partnership with a fintech company
NEW YORK — MrBeast's ambitious reality show, which the YouTube megastar hopes will expand his giant online reach and turn the corner on recent controversies, is already raising questions from consumer advocates over a partnership with a fintech company.
Prime Video's Thursday premiere of the record-setting “Beast Games" capped off a tumultuous year for Jimmy Donaldson and his production company. Shortly after reaching never-before-seen YouTube subscriber totals, MrBeast began facing heightened scrutiny over past “inappropriate content,” the channel's philanthropic efforts, its workplace culture and allegations of dangerous on-set conditions that Donaldson has denied.
As MrBeast's loyal following tunes in to watch 1,000 contestants compete for $5 million on “Beast Games," they are invited to scan a QR code during the show for a shot at winning their own life-changing money. It's a $4.2 million sweepstakes run by fintech company MoneyLion, an app that sends cash advances — often for a fee to workers living paycheck to paycheck.
The collaboration is billed as a way for MrBeast, who has sought to regain brand trust in recent interviews with alternative media personalities, to give back to his fanbase while presenting them with MoneyLion's personal finance tools. But consumer advocates warn MoneyLion's early payments — which are also promoted to giveaway entrants — operate as payday loans that could trap needy users in earnings-depleting borrowing cycles with additional fees.
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