Jake Paul Has Made Millions Using This Mindset Hack — and It Will Help Him Fight Mike Tyson, Too: 'Let It Fuel You' The social media star and "W" founder spoke to Entrepreneur about his latest ventures in boxing and business.
By Emily Rella Edited by Melissa Malamut
Key Takeaways
- Jake Paul spoke to Entrepreneur about his boxing and business career.
- The social media star and entrepreneur just launched a men's body care line called "W," available in Walmart.
- Paul fights Mike Tyson on November 15.
Opinions expressed by Entrepreneur contributors are their own.
At 27 years old, Jake Paul has amassed 26.6 million Instagram followers, 17.8 million TikTok followers, and nearly 20.7 million YouTube subscribers. He started in content creation when monetization was in its infancy, and managed to amass almost two billion views making comedy videos on Vine (RIP), beginning around 2013.
Fast-forward a decade, and Paul's consistent work ethic has catapulted him from influencer to entrepreneur to professional boxer. He beat former UFC fighter and bare-knuckle-boxing champion Mike Perry on Saturday in a six-round TKO victory, and takes on Boxing Hall of Famer Mike Tyson on November 15, which will be streamed on Netflix.
Paul, it seems, is no longer just about comedy and pranks.
"It's just very surreal and it feels like all my hard work is starting to pay off," Paul tells Entrepreneur over a video call. "I'm very honored to be in the ring with Mike Tyson. After 12 to 15 years of knocking down the door of opportunity, I was able to open this door. So it just goes to show that you have to start with one step at a time and grow into things like these, that you can't even believe you're doing."
Jake Paul is seen at Michael Rubin's Annual Fourth of July party on July 4, 2024, in East Hamptons, NY. (Photo by Gotham/GC Images)
When the Tyson fight was announced, Paul emerged as the favorite to win. But his response wasn't one of an untouchable heavyweight — he's just happy to be here. And yes, he says he is scared to fight Tyson.
"Fear is always going to be there, you're always going to be scared," Paul said. "I'm scared to fight Mike Tyson. I'm scared to fight Mike Perry. It's about being brave enough to have the courage to do it when the fear is never going away. You have to embrace it and let it fuel you versus let it stop you from maybe making the best decision of your life."
Still, he hasn't been without controversy. Business Insider reports allegations of online scams, abusive behavior, and vandalism.
His videos filming protests during the pandemic in 2020 led to the FBI raiding his home in 2021 in connection to a looting incident at an Arizona shopping mall. Paul was charged with trespassing and unlawful assembly.
Following an investigation, the U.S. Attorney's Office ruled that he would not face federal charges.
Around the same time, Paul had tension with the mayor of Calabasas, California, when he threw a massive party during the pandemic, despite social distancing restrictions.
Despite the setbacks, Paul didn't step away from the spotlight and took it as a learning lesson. Paul's net worth is now an estimated $34.3 million.
Jake Paul, Brand Builder
Paul owns four businesses — sportsbook app Betr, VC fund Antifund, sports promotion company Most Valuable Promotions — and now his latest, a men's body care line, W, sold direct-to-consumer at Walmart, which launched in June.
On Tuesday, his company announced that W was valued at $150 million and has received $14 million in funding to date with participation from Fanatics CEO Michael Rubin, Paris Hilton, Celsius CEO John Fieldly, tennis stars Nick Kyrgios and Naomi Osaka, and rapper Lil Durk.
"I started not knowing what anything was, I just learned a little every single day, accumulated knowledge, applied all my learnings, and worked harder than my peers," Paul said.
Paul likens W products to "a new, better version of Axe for millennials."
"These old legacy brands that we're going up against are companies owned by massive conglomerates. We're coming in with a new game plan, and a new way to market," Paul added. "There's so much room to grow and to change things here and to innovate on a product that can connect with a younger audience of men, which is my audience."
Related: Ringside Tyson-Paul Fight VIP Tickets Selling for Millions
Paul's marketing techniques are not for everyone (he was nearly attacked by a shark, and filmed a lie detector test on Instagram), but they feel authentic to who he is and his already hyper-online social media presence.
"I think people should be themselves. Authenticity is what's winning, show your failure, show your mistakes, tell your story," Paul said. "The struggle is what people can relate to, and I think that's what's missing with a lot of entrepreneurs."
Paul says when he was making videos on Vine as a teen a decade ago, he anticipated how big the influencer economy could be one day. He was right: A recent report from Emarketer projected that U.S. marketer spending on sponsored social-media content could rise 16% this year to $8.14 billion.
"[Back then], the numbers spoke for themselves," he said. "We were Viners getting millions of views on our Vines and getting paid like $2,000 for a video, but a commercial slot on TV would get maybe 500,000 views, and they get paid $100,000 or $200,000."
Paul said he knew eventually that numbers "would be the most important thing," and that influencers and creators would become more valued. "And that's becoming true," he added.
Paul says his first paycheck was for $300, and he spent it on Christmas-edition LeBron James sneakers and a Diesel watch.
"You have to embrace it and let it fuel you versus let it stop you from maybe making the best decision of your life."
Transitioning into the business world didn't come without a slew of haters, either.
"I [was] scared to put W into the world to see how people are going to receive it," he said.
Paul says that he heard a quote years ago about entrepreneurs being the best at sweeping their mistakes under the rug, learning, and moving on, and he tries to remember that when things get tough.
"It hasn't been easy at all, it's difficult every single day still," Paul said.
Related: Jake Paul Reportedly Earned Sky-High Amount for Fight
And he may just be fighting his old reputation for a while: After all, he knows the Internet is forever.
"I want people to look at me as an example of the American dream, of relentlessly pursuing my dreams for over a decade and never stopping when I fell flat on my face and persevering through all of those moments," he said.
