The Financial Landscape of FaZe Banks: Net Worth, Ventures, and Controversies

Table of Contents

Executive Summary

This report provides a comprehensive analysis of Richard “FaZe Banks” Bengtson’s financial standing, detailing his estimated net worth and the primary drivers of his wealth.

A prominent figure in the esports and content creation industries, Banks has built a multifaceted financial profile through his extensive career as a content creator, his pivotal role in FaZe Clan, and his diversified investment portfolio.

The report also examines significant financial controversies, most notably the MLG Coin crypto scandal, and their profound implications for his financial and professional trajectory.

This analysis underscores the dynamic and often volatile nature of wealth accumulation within the rapidly evolving digital economy.

1. Introduction: Who is FaZe Banks?

Richard “FaZe Banks” Bengtson, at 33 years old, is widely recognized as a co-founder and former CEO of FaZe Clan, a globally prominent esports and entertainment organization.¹

His journey into the digital economy commenced with modest earnings derived from video game-related content.

A notable early success involved a YouTube video demonstrating how to hack Xbox 360 gamer score, which generated approximately $500 through Google AdSense.²

This seemingly small sum proved transformative, validating the concept of “internet money” and making it a tangible reality for him.²

This early financial success was a critical turning point, especially considering the prevailing skepticism from his parents and friends regarding his extensive time spent on video games, which they initially perceived as an unusual obsession.²

This initial validation provided a crucial impetus, transforming what might have been a mere hobby into a serious entrepreneurial pursuit that ultimately laid the groundwork for co-founding FaZe Clan and accumulating substantial wealth.

The report notes his recent decision to step away from his CEO role and take a temporary hiatus from the internet.

This move was prompted by escalating controversy surrounding his alleged involvement in cryptocurrency scams.¹

Despite these recent challenges, Banks remains a central and influential figure in the ongoing evolution and strategic direction of the FaZe brand.⁵

This report aims to provide a comprehensive analysis of his net worth and the intricate details surrounding it.

2. Estimated Net Worth: The Current Figures

According to Celebrity Net Worth, FaZe Banks’ current estimated net worth stands at $13 million, as of July 29, 2025.¹

While some reports from late 2023 and early 2025 indicated a slightly higher figure around $14 million, the prevailing consensus points to the $13 million mark.⁶

This substantial wealth is primarily attributed to his highly successful YouTube channel, which boasts over 4.9 million subscribers and has garnered hundreds of millions of views, thereby establishing a consistent and dependable income stream.¹

Furthermore, his significant role as the CEO of FaZe Clan has also been a substantial contributor to his overall net worth.¹

The calculation of celebrity net worth typically involves a comprehensive assessment of their assets, which can include real estate, luxury vehicles, diverse investments, and income from endorsement deals.

From this total, their liabilities, such as taxes, outstanding debts, and living expenses, are subtracted.⁷

Financial publications frequently employ methods that involve evaluating the total value of assets and analyzing annual income streams, encompassing salaries, endorsement agreements, and other diverse revenue sources.⁷

It is crucial to understand that net worth is not a static figure but rather a dynamic metric that fluctuates in response to prevailing market conditions and an individual’s ongoing financial decisions.⁸

FaZe Banks’ financial profile vividly illustrates how a large, engaged “loyal fanbase” and “hundreds of millions of views on YouTube” ¹ function not merely as direct income streams but as powerful asset multipliers.

The sheer scale and engagement of his digital reach significantly enhance his earning potential across various avenues, including endorsements, merchandise sales, and new business ventures.

This dynamic transforms his “personal brand” into a substantial, albeit intangible, asset that inflates his overall net worth far beyond what direct financial transactions alone might suggest.

A large, engaged fanbase directly translates into higher negotiation power for sponsorships, increased sales for branded merchandise, and greater leverage in securing lucrative business deals.

This effectively amplifies his financial potential, a characteristic particularly pronounced within the creator economy, where influence directly correlates with economic opportunity.

3. Pillars of Wealth: Income Streams and Business Ventures

FaZe Banks’ wealth is derived from a multifaceted array of sources, ranging from his foundational work as a content creator to his executive leadership roles and strategic investments.

3.1. Content Creation and YouTube Success

FaZe Banks’ extensive presence on YouTube is unequivocally identified as one of the most significant contributors to his accumulated wealth.⁶

He has cultivated a massive audience, boasting over 4.9 million subscribers and accumulating hundreds of millions of views across his content, thereby establishing a consistent and dependable income stream.¹

His independent channels, while intrinsically linked to the broader FaZe brand, have served as a primary source of earnings through advertising revenue, lucrative sponsorship deals, and direct financial support from his dedicated fanbase.⁶

A pivotal moment in his career was his early success on YouTube, where a video detailing how to hack Xbox 360 gamer score earned him $500.

This seemingly modest sum was transformative, making the concept of “internet money” tangible and “real” for him.²

This early validation empowered him to pursue content creation as a full-time endeavor, leading him to drop out of school shortly after realizing the financial potential of his video game-related online activities.²

3.2. FaZe Clan: From Co-Founder to CEO

Richard “FaZe Banks” Bengtson is recognized as one of the original six individuals who founded FaZe Clan in 2010.⁵

He also held the prominent position of CEO within the organization.¹

FaZe Clan underwent a remarkable evolution, transforming from a YouTube-centric gaming collective into a globally recognized esports and entertainment organization.⁹

A significant milestone in its trajectory was its public listing on NASDAQ in July 2022.

While initially projected to achieve a valuation exceeding $1 billion, the company ultimately went public with an initial valuation of $725 million.⁵

This public offering was intended to secure a “substantial cash injection of $291 million” to fuel the company’s ambitious growth plans.¹¹

Despite its initial high valuation, FaZe Clan subsequently experienced considerable financial volatility.

As of September 2023, its net assets were reported at 22.18millionUSD.[14]However,thecompanyrecordednegativenetassetsinboth2020(-72.46 million) and 2021 ($-0.11 billion), before showing an improvement to $46.75 million in 2022.¹⁴

The company’s market capitalization witnessed a dramatic decline, plummeting from $0.13 billion in 2022 to just $14.12 million in 2024, prior to its eventual delisting.¹⁴

FaZe Clan was ultimately acquired by GameSquare in October 2023 for a reported $18.5 million, approximately a year after its public listing.⁵

Following this acquisition, FaZe Clan continued to operate as an independent, wholly-owned subsidiary under the GameSquare umbrella.⁵

The journey of FaZe Clan, characterized by an initial expectation of a $1 billion valuation, followed by a public listing at $725 million, and culminating in an acquisition for a mere $18.5 million ⁵, starkly illustrates the inherent challenges and substantial risks associated with creator-led, brand-heavy organizations attempting to transition into traditional public companies.

The initial widespread hype and the appeal of being the “voice of youth culture” ¹³ evidently failed to translate into sustained, profitable financial performance within the public market.

This indicates a fundamental disconnect between perceived brand value and conventional corporate profitability metrics.

The recurring negative net assets in 2020 and 2021 ¹⁴ further underscore the underlying financial struggles that predated the acquisition, suggesting that while the brand possessed immense cultural capital, it faced significant difficulties in converting this into consistent, profitable financial performance as a public entity.

This ultimately led to a drastic re-evaluation by the market, offering broader implications for the viability and valuation challenges of similar creator-economy entities seeking traditional public market liquidity.

A compelling aspect of this narrative is the decision by FaZe Banks, as a co-founder and CEO, to re-invest significantly in the newly formed FaZe Media, despite his original company being acquired for a fraction of its public valuation.⁵

His explicit statement that this move was about “reigniting the original spark” and “putting our own money on the line” ⁵ demonstrates a profound personal belief in the intrinsic value of the brand.

This suggests a prioritization of its cultural capital and deep community connection over its fluctuating market capitalization.

This action indicates a strategic and deeply personal decision to regain creative control and align his financial investment directly with the brand’s future, even in the aftermath of a significant corporate downturn.

It implies that the “true” value of a creator brand might not always be accurately reflected in its public market valuation, especially when it struggles to fit conventional corporate structures.

To provide a clearer overview of FaZe Clan’s financial journey, the following table summarizes key net asset figures and valuation milestones:

Table 1: FaZe Clan Financial Trajectory: Net Assets and Valuation Milestones

Year (Net Assets)	Net Assets (USD)	Change (%)	Valuation Milestones (Year)	Valuation (USD)	Source
2019-12-31	-$43.85 Million				¹⁴
2020-12-31	-$72.46 Million	65.26%			¹⁴
2021-12-31	-$0.11 Billion	47.58%	Expected Public Valuation (2021)	>$1 Billion	¹¹
2022-12-31	$46.75 Million	-143.72%	Public Listing Valuation (2022)	$725 Million	⁵
2023-09-30	$22.18 Million		Acquisition by GameSquare (2023)	$18.5 Million	⁵

3.3. FaZe Media and Ownership Stakes

Following GameSquare’s acquisition of FaZe Clan, a new subsidiary named FaZe Media was strategically launched in May 2024, with FaZe Banks assuming the pivotal role of CEO to oversee its operations.⁵

FaZe Media is specifically characterized as a “creator-led media company for FaZe Clan’s IP” ⁵, with its core mission centered on enhancing brand value through diverse strategies, including licensing agreements, strategic sponsorships, online events, and the launch of branded merchandise.¹⁵

Initially, GameSquare held a controlling 51% ownership stake in FaZe Media, while Matt Kalish, the president and co-founder of fantasy sports platform DraftKings, acquired a 49% stake through an $11 million investment.⁵

In a recent development, FaZe Banks further solidified his commitment by acquiring an additional 25.5% stake in FaZe Media for $9.5 million.⁵

This significant acquisition increased his total ownership in the firm to 31%.⁵

Despite Banks’ increased ownership, GameSquare has strategically retained a controlling voting interest in FaZe Media, along with voting control of the transferred shares for a period of two years.

This arrangement is designed to ensure the “stability and continued growth” of the new entity.⁵

The transaction that facilitated Banks’ acquisition effectively valued FaZe Media at approximately $40 million.¹⁵

The establishment of FaZe Media and FaZe Banks’ substantial re-investment ⁵ signify a deliberate strategic pivot away from the traditional esports organization model, which demonstrably struggled in the public market.

This move towards a more focused “creator-led IP and media company” ⁵ effectively allows the founders, particularly Banks, to re-emphasize the core content creation and brand-building aspects that were initially responsible for FaZe Clan’s immense success.

This strategic shift potentially insulates the brand from the complexities and financial pressures inherent in operating as a publicly traded esports entity.

The acquisition and subsequent spin-off and re-investment can be interpreted as a necessary restructuring to enable the brand to thrive under a model that is more closely aligned with its foundational strengths and origins, with founders having more direct control and financial alignment.

GameSquare’s retention of a controlling voting interest, despite FaZe Banks’ significant 31% ownership stake ⁵, illustrates a nuanced and complex power dynamic within the acquisition.

While Banks is empowered as CEO and a substantial owner, the ultimate strategic and financial control remains with the acquiring entity.

This arrangement suggests a hybrid model where acquiring companies strategically leverage the founder’s authentic brand identity and creative vision while simultaneously maintaining robust financial and strategic oversight.

This balances the critical need for “reigniting the brand” with the imperative of corporate stability and investment protection.

This pattern is common in the acquisition of creator-led businesses: the acquirer seeks to capitalize on the brand’s cultural relevance and the talent behind it, but simultaneously needs to impose corporate governance and financial discipline.

3.4. Endorsements and Sponsorships

Sponsorship deals constitute a significant portion of a digital creator’s overall income.⁶

FaZe Media recently announced a substantial “multi-year, multi-million-dollar sponsorship and licensing deal” with the prominent energy drink brand G FUEL.¹⁶

A notable aspect of this partnership is the inclusion of an “equity component in G FUEL” for FaZe Media, though the precise details of this equity stake were not publicly disclosed.¹⁶

FaZe Banks, in his capacity as CEO of FaZe Media, expressed considerable enthusiasm for the reunion with G FUEL, describing it as a “revival of the legendary history from the OG FaZe days”.¹⁶

This particular deal marks FaZe Media’s inaugural long-term sponsorship as a standalone entity, operating independently from its esports operations.¹⁶

The partnership’s initial collaborations include G FUEL serving as the presenting sponsor for the FaZe Clan Subathon.

As a symbolic gesture, the FaZe House will be temporarily rebranded as the “FaZe G FUEL House,” paying homage to a similar sponsorship arrangement dating back to 2014 with FaZe Clan’s original NYC house.¹⁶

The G FUEL partnership ¹⁶ transcends a typical sponsorship arrangement.

It is explicitly framed as a “reunion” and a “revival of the legendary history from the OG FaZe days”.¹⁶

This deliberate framing suggests a calculated strategy to leverage nostalgia and established brand relationships as a means to rebuild trust and re-engage with the original fanbase, particularly in the wake of recent controversies and significant corporate restructuring.

By partnering with a brand like G FUEL, which shares a historical connection with FaZe Clan dating back to 2014, FaZe Media is tapping into a powerful sense of authenticity and continuity.

The inclusion of an “equity component” ¹⁶ further aligns the long-term interests of both parties, elevating the partnership beyond a simple cash-for-promotion model to a deeper, more invested collaboration.

This suggests that FaZe Media is actively seeking partners who are not merely advertisers but genuine stakeholders in its future success, which is likely to lead to more stable and potentially more substantial revenue streams compared to transactional sponsorships.

3.5. Diversified Investments and Other Ventures

Beyond his core activities in content creation and his direct involvement with FaZe Clan, FaZe Banks has strategically diversified his income through various other ventures and astute investments.⁶

He is recognized as an active angel investor, having made at least six distinct investments.¹⁷

His investment portfolio primarily spans the Entertainment Software industry, with notable investments in companies such as Endless Clouds, Avalon, and Minted Loot Studios, as well as the Financial Services sector, including firms like Fomo and Redacted.¹⁷

His most recent recorded investment was in Endless Clouds on June 23, 2025.¹⁷

This significant transition from primarily a content creator to an active angel investor, with a diversified portfolio spanning entertainment software and financial services, exemplifies a common and strategic evolution for highly successful digital entrepreneurs.

This deliberate diversification of his financial portfolio beyond his core content creation and brand affiliations (FaZe Clan/Media) suggests a calculated effort to establish more stable, passive income streams and, crucially, to mitigate the inherent volatility and intense public scrutiny often associated with influencer-driven revenue models.

This move signifies a maturation of his financial strategy beyond merely earning from content, representing a conscious effort to diversify risk and build long-term, sustainable wealth that is less susceptible to the potentially ephemeral nature of online fame and the direct monetization of digital content, especially in light of the financial volatility experienced by FaZe Clan and the personal impact of the crypto scandal.

Additionally, Banks’ creative talents extend beyond gaming and video production; he is also noted as a music producer, composer, and songwriter, indicating additional revenue streams derived from the broader entertainment industry.⁶

He has also strategically invested in various properties, a common and prudent approach for successful individuals to foster long-term wealth growth and hedge against inflation.

This demonstrates a sophisticated and strategic approach to managing and augmenting his assets, rather than solely focusing on earning them.⁶

Notably, Banks confirmed that he invested “a ton of money” in cryptocurrency, specifically referencing his involvement with the controversial MLG meme token.¹

While he explicitly stated he invested “a ton of money” in cryptocurrency ¹, this very involvement directly led to the significant and damaging MLG Coin controversy.⁴

This situation vividly highlights the dual nature of cryptocurrency for public figures: it offers immense potential for rapid wealth accumulation (as demonstrated by MLG’s surge from a $3 million to $200 million or $150 million market cap ¹) but simultaneously carries extreme reputational and financial risks due to inherent market volatility and the pervasive threat of accusations of manipulation.

His personal investment ¹ complicates the “rug pull” narrative, suggesting that he, too, may have been a victim, or at the very least, deeply entangled in the downturn, rather than solely a perpetrator.

He claimed he “never ever sold” MLG Coin, asserting he organically grew its value.⁴

This personal financial commitment, if accurate, positions him differently from an individual who merely promotes a token and then cashes O.T.

4. Financial Controversies and Their Impact

This section provides a detailed examination of the most significant financial controversy involving FaZe Banks: the MLG Coin crypto scandal, analyzing the allegations, his response, and the broader implications for his personal brand and the influencer economy.

4.1. The MLG Coin Crypto Scandal

Richard “FaZe” Banks found himself at the epicenter of a major controversy, facing severe allegations of defrauding fans through his involvement with the $MLG meme token.⁴

This token, launched on the Solana blockchain, gained significant traction after being heavily promoted by prominent FaZe Clan members, including Banks himself and fellow content creator Adin Ross.¹⁰

The token’s market capitalization experienced an explosive surge, skyrocketing from $3 million to $150 million ¹⁰ or even $200 million ¹ within an exceptionally short timeframe, specifically five days.¹⁰

However, this meteoric rise was swiftly followed by a precipitous decline, leading to widespread accusations of a “pump-and-dump” or “rug pull” scheme, where investors were left holding tokens that had become virtually worthless.¹

Banks vehemently denied any wrongdoing, asserting, “I’ve never scammed anyone a day in my f**king life”.³

He maintained that he never sold a single coin and was responsible for organically growing the token’s value.⁴

Furthermore, he publicly alleged that a coordinated smear campaign was being waged against him, claiming that someone was reportedly paying up to $50,000 to propagate a negative narrative.⁴

The controversy escalated into a public feud with fellow streamer Adin Ross, whom Banks blamed for the token’s crash.⁴

Adin Ross, who also promoted MLG Coin and had claimed a 20% stake in FaZe Clan, subsequently confirmed the authenticity of the leaked messages in which Banks assigned blame to him.⁴

The profound impact of the scandal ultimately led to Banks stepping down from his role as CEO of FaZe Clan and announcing a temporary withdrawal from the internet.

He cited the pervasive rumors as “destroying [his] life inside and out”.¹

FaZe Banks’ poignant statement, “The entire narrative is unfair, and part of the reason it exists is cause my ‘FaZe’ name is so easily framed and manipulated” ³, suggests a profound paradox.

The brand’s widespread recognition and immense influence, which have been instrumental in accumulating wealth, simultaneously render its members highly susceptible to intense public scrutiny and accusations, irrespective of their actual culpability.

The very popularity that served as the foundation of their empire can swiftly transform into a significant liability during periods of controversy.

The higher the public profile of an influencer or brand in the digital sphere, the greater the potential for negative narratives to be amplified, regardless of factual accuracy.

Public perception, often fueled by viral content and unverified accusations, can rapidly overshadow personal denials, leading to severe personal and professional repercussions, such as stepping down from a CEO position.¹

This highlights the unique and heightened reputational risks faced by public figures operating in the digital age.

The MLG Coin controversy ⁴ starkly underscores a significant ethical and potentially regulatory gap in the influencer marketing of highly volatile financial products like meme coins.

The rapid pump-and-dump cycle, coupled with the notable lack of transparency regarding project ownership and technical audits ¹⁰, and the heavy reliance on celebrity endorsements ¹⁰, vividly illustrate how easily speculative hype can overshadow fundamental substance, leaving unsophisticated investors highly vulnerable to substantial losses.

The MLG Coin saga is explicitly characterized as a “classic sign of a pump-and-dump scheme” ¹⁰, with its market capitalization exploding from $3M to $150M/$200M within days ¹ before an inevitable crash.

The available information directly points to “lack of clear information regarding the MLG Coin project’s ownership, token distribution, and technical audits” ¹⁰ and emphasizes the “potential dangers when crypto ventures rely heavily on celebrity endorsements without transparency”.¹⁰

This entire scenario points to a systemic issue where highly influential figures can, whether intentionally or unintentionally, drive massive, speculative investment into unregulated digital assets, often with devastating financial consequences for their audience.

This serves as a potent cautionary tale ¹⁰ that underscores the ethical responsibilities of influencers and highlights the pressing need for clearer guidelines or comprehensive regulations at the intersection of entertainment, marketing, and finance.

4.2. Broader Implications

The MLG Coin scandal unequivocally highlights the intricate and often perilous intertwining of the esports and cryptocurrency communities.

It underscores the significant dangers that arise when crypto ventures heavily depend on celebrity endorsements without a foundation of transparency.¹⁰

This situation serves as a stark cautionary tale for cryptocurrency investors, particularly those drawn to meme coins, emphasizing the critical importance of scrutinizing the underlying fundamentals of any token before committing funds.¹⁰

The controversy has inflicted considerable damage on FaZe Clan’s brand reputation ¹⁰ and introduced a period of uncertainty within the organization, notably with no immediate announcement of an interim CEO following Banks’ departure.¹⁰

Despite the profound negative impact of the controversy, Banks’ recent strategic acquisition of a significant stake in FaZe Media ⁵ signals his enduring commitment to the FaZe brand and his unwavering entrepreneurial drive.

This move suggests a remarkable resilience and a determination to navigate through, and potentially recover from, such significant public setbacks.

5. Conclusion: A Dynamic Financial Profile

FaZe Banks’ estimated net worth of $13 million ¹ stands as a testament to his sustained success and strategic acumen within the dynamic digital realm.

This wealth is primarily driven by his extensive YouTube presence and his foundational role in the establishment and growth of FaZe Clan.¹

His financial portfolio extends significantly beyond direct content creation, encompassing strategic executive positions within both FaZe Clan and the newly formed FaZe Media.⁵

This includes substantial ownership stakes, notably his 31% holding in FaZe Media ⁵, lucrative endorsement deals that sometimes incorporate equity components ¹⁶, and a diversified array of angel investments across technology and financial services sectors.¹⁷

The MLG Coin crypto scandal represents a critical and defining juncture in his financial narrative, starkly highlighting the inherent risks and profound reputational challenges that influencers confront within the largely unregulated cryptocurrency space.⁴

His decision to step down as CEO ¹ underscores the severe and immediate impact that such high-profile controversies can have on an individual’s professional standing.

However, his immediate re-investment and active leadership in FaZe Media subsequent to the acquisition ⁵ demonstrate a strong, unwavering belief in the enduring value of the FaZe brand and his deep commitment to its future trajectory.

This strategic move suggests a deliberate pivot to re-emphasize the brand’s core identity as a creator-led intellectual property.

Ultimately, FaZe Banks’ financial narrative is a compelling story of continuous adaptation and remarkable resilience within a highly volatile and rapidly evolving industry.

His journey vividly illustrates both the immense opportunities for wealth creation that exist in the digital economy and the complex, multifaceted challenges inherent in managing a prominent public persona alongside a diverse portfolio of ventures.