You have to know this... E-sports and gaming is a huge AND growing industry.
Our next generation will have more who are full timers in it. Hence, maybe it's good to know abit.
This article is on a streamer who makes a huge amount gaming. Towards the end of this article, I'd share how she manages her money...
Who is she... this gaming millionaire!
If you play FORTNITE or League of Legends, you'd probably know Pokimane.
Her real name is Imane Anys (alias, Pokimane). She is a Moroccan Canadian content creator with a huge fan following of more than 5m subs on youtube and 5m followers on Twitch TV.
I didn't know about Twitch TV until recently. If you're clueless too, it's a streaming platform focused on gaming. It is owned by Amazon.com.
Above is an estimated net worth of her networth at $2m at the age of 24!
I've researched and she has not confirmed it. Hence, this $2m net worth really depends on estimates.
Nonetheless, she is certainly wealthier than most working adults already.
How she makes money as a streamer/gamer?
Pokimane makes her majority income from twitch and brand collaborations.
Twitch allows subscribers to pledge a monthly subscription fee to her, quite a nice passive income stream.
She’s accumulated over 90 million views from her followers.
Brand deals are another major avenue of income for her which she has shared before.
A live stream looks something like this above. It is fans watching her play. Very similar to a professional athlete.
There can be donations also during a live stream. She has shared that it accounts for 5% or less of revenue.
Estimates of her earnings...
No one knows for sure her total income other than her accountant.
Just from streaming along as shown below, it could be $30,000/month.
This does not add in ad revenues (from multiple channels) and sponsorship deals.
My personal estimates is around $1.5m to $2m per year (before taxes).
How she spends her money...
Regardless of whether those estimates are accurate or not, these are rough figures she has shared
- 40% of earnings into tax savings account
- 30% savings
- 30% expenses: business expenses (around $20,000/month) and personal expenses (less than $10,000).
From the many interviews, she doesn't seem like someone extremely savvy with her money. Neither does she appear to be someone frugal.
The interesting part is someone earning this amount of income could easily be blowing a lot of money everywhere. But she doesn't. It's within $10,000/month for personal expenses.
We've all seen multi-millionaire athletes going bankrupt. Mike Tyson is one of them.
Part of the reason why she finds it hard to spend $10,000/m is she simply has a habit of not buying things she doesn't need.
Watch video below for a story on someone with $5,000/m income yet negative in cashflow.
Who is in her team
She has a team of people working for her. 8 people working for her to handle various aspects of her empire which makes it into a real business.
As shown above, she also engages an investment advisor =).
His role is to manage a portion of her money (some Goldman Sachs fund... not much details) and vet through private investment deals she has. She has expressed an interest in investing into E-sports startups.
Issues being a gaming millionaire!
She has shared that she is almost always working. 20% of time, gaming becomes more "like a job" because of streaming schedule commitment to fans.
With that, it is hard to find time for self development and leisure.
I guess this is similar to a millionaire in any industry. It takes a lot of energy to be the best in a field.
If you're keen to find out more, follow this link.
It is rare to hear what goes on financially for a millionaire.
Not many have achieved this level of success at such a young age and building a right team is often an underlying reason to doing so.