After Shane Dawson and David Dobrik, James Charles has become the next major YouTube content creator to be demonetized. The 21-year-old beauty guru and media mogul has faced severe backlash in the last couple of months, stemming from accusations of pedophilia and solicitation of minors.Earlier this month, James Charles uploaded a video addressing the serious accusations that were being levied against him. In the 14-minute long apology video that he uploaded on April 1st, 2021, James Charles owned up to accusations and confessed to having sent explicit messages to two minor boys.he just keeps apologizing his way out of a being a pedophiIe... doesn’t work like that pic.twitter.com/HMUy3YJUE8— ً (@adiosbunny) April 1, 2021This came as a shock after he had dismissed all accusations earlier in February. In light of these events, YouTube finally decided to take action and temporarily demonetize its channel.What does demonetization on YouTube mean?Demonetization on YouTube means a YouTuber has lost monetization rights to their video. They earn nothing from YouTube, including AdSense money. Because it’s YouTube and YouTube doesn’t make good decisions— 🌙🔮𝓥𝓮𝓷𝓾𝓼💘✨ ¯\_(ツ)_/¯ (@VenusOneechan) April 20, 2021Controversial YouTuber Shane Dawson, one of the first few people to have spoken up against James Charles during the "Bye Sister" saga, has been demonetized on YouTube for most of the past year. He, too, is facing accusations of pedophilia and racism.......this shit show with Tati Westbrook and Shane Dawson losing his shit on IG and Jeffree Star pulling strings and the Bye Sister scandal....and I'm just sitting here thinking how interesting it is to know that YouTube CAN intervene when content is inappropriate pic.twitter.com/r1D9qG34te— She Has Killed Cleopatra 💋🎀👑 (@OyaUntamed) June 30, 2020No one knows when or if YouTube will again re-monetize these channels.How does this look for James Charles financially?Even though getting demonetized on YouTube wouldn't mean the end of the world for James Charles' finances, this development occurred right after he lost two other major avenues of his income.He was recently removed as a host from his YouTube Red series, "Instant Influencer," a reality competition series that James Charles hosted and co-produced along with YouTube.BREAKING NEWS THAT WILL MOST DEFINITELY CHANGE YOUR LIFE: James Charles replaced in ‘Instant Influencer’ by Zach “ZHC” Hsiech. James was dropped shortly after accusations he allegedly had inappropriate contact with minors. YouTube did not provide a reason for dropping James. pic.twitter.com/fK1t6cbg4X— Def Noodles (@defnoodles) April 15, 2021Soon after his video was released, beauty brand Morphe ended its long business partnership with James Charles. Morphe shared this statement on Twitter:"In light of the recent allegations against James Charles, Morphe and James have agreed to end our business relationship and wind down sales of the Morphe x James Charles product offering."Thankyou for maintaining the standard you set.Although I could have done without hearing about how James has also agreed to parting ways, I have no interest in what an established child predator has agreed to.— Protagynyst (@mikenactor) April 17, 2021Morphe has a palette that is one of their bestsellers, i.e. The Morphe X James Charles eyeshadow palette. James Charles has done many collaborations with Morphe in the past, and this came as a shock to fellow "Sisters" and consumers who loved their collaborative products.Despite all these factors, Charles might not have a dent in his pocket. However, it may hinder prospects of brand collaborations and sponsorships in the future. How James Charles and YouTube handle the situation is still left to be seen.