To measure how influential and successful financial content makers are on TikTok, CMC Markets, a supplier of derivative trading, looked at user profiles on the video site.
The findings will make you want to stay in your pajamas and give quick financial tips to financially troubled Gen Zers in short films.
On TikTok, it might be difficult to distinguish if a video is a joke or a real investing or personal finance film. However, the top TikTok “finfluencers” aren’t really novices. The list consists of:
Erika Kullberg.
According to the TikTok Money Calculator, 32-year-old ex-corporate lawyer Kullberg, who has 8.9 million TikTok followers, could make $7,040 every sponsored post. Kullberg provides customers with advice in his TikTok videos about shopping, finance, employment, and legal. According to a video on her TikTok, she earns over $100,000 annually from YouTube alone.
Mark Tilbury.
With 7.1 million followers, the 53-year-old English entrepreneur is TikTok’s second most popular financial influencer, earning an estimated $5,860 for each sponsored post. Tilbury has the highest interaction rate among the top influencers, averaging 154,650 likes per TikTok video while sharing tips on how to invest, save money, and negotiate.
Moore, Duke Alexander
Moore, who is also known as Duke Tax, has 3.4 million followers and has the potential to make $2,720 for each sponsored video. Moore is a Certified Tax Coach, Enrolled Agent, and one of Intuit’s QuickBooks top five Tax Advisors in Dallas, Texas. She also offers personal finance advice for creators and business owners.
Schlichter, Brandon
Schlichter, who has 3.4 million followers and a net worth of more than $10 million, can charge $2,640 for each sponsored video. He makes more than $2 million a year from his businesses. His most watched video, which has 45 million views, provides financial education and investing advice while also displaying how much money his laundromat generated in a single day.
Schlichter, Brandon
Schlichter, who has 3.4 million followers and a net worth of more than $10 million, can charge $2,640 for each sponsored video. He makes more than $2 million a year from his businesses. His most watched video, which has 45 million views, provides financial education and investing advice while also displaying how much money his laundromat generated in a single day.
Yang, Humphrey.
Yang, a former investment banker, offers advice on TikTok about personal finance, money, and investing. He invests up to $500,000 each month in Vanguard, Robinhood, Coinbase, WeBull, Fidelity, Public, and Wealthfront, according to his financial mastersheet.
How Much Does That Amount To Financially?
The top five influencers could make between $275,000 and $750,000 a year with just two sponsored posts per week.
The average #fintok video lasts one minute, which equates to $158,684 to $432,775 per hour if it were an hour-long film.
For 104 minutes of work, not bad.
Are the financial tips on TikTok any good?
It’s undeniable that younger people are looking to TikTok for financial guidance and information.
According to a LendingTree analysis, more than 40% of Gen Zers, who are between the ages of 18 and 26, visit TikTok for information on investments, compared to 15% of Millennials (27 to 41 year olds). Additionally, according to Greenlight, a kids’ personal finance software, 35% of 13 to 20-year-olds have started to gambling.
Of course, the crucial query is: Is the guidance they are receiving of any value?
CNBC examined the financial guidance offered by some of the platform’s financial influencers and came to the following conclusion:
When it comes to accuracy, financial advice on TikTok can be hit or miss. In less than 30 seconds, some of the TikToks we looked at offered realistic guidance, while others effectively offered get-rich-quick advice without going into any specifics. Young people now have easier access to financial guidance because to social media, but it’s still important to do your homework and find more resources on the personal finance topics that interest you.
Due to the entertainment and information they receive from the top finfluencers on TikTok, millions of users follow them. Even if their advise were excellent, they couldn’t have attracted as many followers on their own.
Or, for that matter, the price they can set for sponsored content.
