Linus from Linus Media Group explains why he turned down $100 million offer for his YouTube empire

Linus Sebastian, a popular tech YouTuber, shocked the internet on May 19, 2023, by announcing his departure as CEO of Linus Media Group. In the video titled, I'm Stepping Down..., the internet personality stated that his decision was not influenced by a corporate takeover. Instead, he and his wife will continue to be the sole shareholders and directors of the production agency. Linus then revealed that he was given the opportunity to &quot;sell out,&quot; as he was offered a whopping $100 million for his YouTube empire. Sharing more details, he said:&quot;We did have a substantial offer recently to sell out. And I might as well speak plainly. The offer was $100 million. 60% cash, 40% shares in the acquiring company. Basically, it was enough to live in a beachfront hotel for the rest of our lives. For our kids to do that, and for our kids' kids to do the same. We decided not to take it, and there were a few reasons.&quot;DramaAlert@DramaAlertLinus from Linus Media Group revealed that he was offered $100 million dollars to sell his company. #DramaAlertHe didn't accept the offer, but he did reveal today that he will be stepping down as CEO.614Linus from Linus Media Group revealed that he was offered $100 million dollars to sell his company. #DramaAlertHe didn't accept the offer, but he did reveal today that he will be stepping down as CEO. https://t.co/KOf8JdRvst&quot;It wouldn't really change our lifestyle much&quot; - Linus lists reasons behind his rejection of $100 million purchase offer for his YouTube empireThe nine-minute, 30-second video continued with Linus explaining why he did not sell his YouTube empire for the staggering sum. He claimed that the situation would not have &quot;really changed&quot; his lifestyle:&quot;Honestly speaking, it wouldn't really change our lifestyle much. I mean, what are we going to do? Buy an even bigger house? An even faster car? I mean, that's never been us, anyway.&quot;Timestamp: 03:50The second reason was the 36-year-old's passion for the company and its employees. He went on to say that his mission was not &quot;yet complete,&quot; and that viewers can expect not to see short-term thinking caused by investor pressure:&quot;Second is because, we love this company and the people in it. And... I just... I just don't think our mission is complete yet. I'm not sure that it will ever be! My point is, just that our attitude towards money, so, make lots of it and keep re-investing and building this thing to do even better, it's not going to change and you're not going to see that kind of short-term thinking that comes from investor pressure.&quot;Fans react to the YouTuber's revelationDramaAlert's tweet featuring the YouTuber's revelation attracted a handful of responses. Here's what netizens had to say:Nicholas Paul@NicholasPaul69@DramaAlert makes sense. linus is already wealthy1@DramaAlert makes sense. linus is already wealthyPb 𖤐@lilpowerpuffboy@DramaAlert good man :) these are the type humans that make me happy less selfish than companies worth less. take responsibility as a man and the lessons will make since1@DramaAlert good man :) these are the type humans that make me happy less selfish than companies worth less. take responsibility as a man and the lessons will make sinceCaro 🪽@gayec01@DramaAlert He doesnt accept the offer but he resings as ceo??? What???@DramaAlert He doesnt accept the offer but he resings as ceo??? What???At the end of the video, Linus announced that Terren Tong, his former boss at NCIX, will take over as the new CEO of Linus Media Group.

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