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Snapshot · PBD Podcast
House Passes Housing Bill, Daily Wire $2B IPO, Knicks Trash Can Lady Fired | PBD Podcast #823
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Jun 24, 2026
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Daily Wire: $2B IPO Dream or Slow-Motion Decline?
At 1:06:32 · chapter starts 56:05
Patrick Bet-David presents data from Semaphore's reporting on Daily Wire's confidential fundraising documents: $48M in EBITDA, subscriber growth that exploded during COVID and has now reversed to -16% in 2026, and bankers targeting a $2B IPO valuation within 18 months of a current $750M round. [1] — Patrick Bet-David "Daily Wire has $48M in EBITDA and is targeting a $2B IPO valuation — but subscriber growth has gone from 151% in 2021 to negative 16% in 20…" 55:30 The panel debates what percentage of Daily Wire's value is tied to Ben Shapiro — estimates range from 50% to 80% — and whether the company survives if he stops creating content. Tom Ellsworth frames the $100M raise as a 'venture valuation,' comparing it to the sky-high multiples seen in Perplexity and Anthropic rounds, rather than a traditional PE deal that would imply a far lower price on $50M EBITDA. [2] — Patrick Bet-David "Daily Wire IPO target: $2B valuation: Bankers say a $2 billion IPO valuation could be achievable within 18 months after a current fundraise…" 56:10 Humberto references BuzzFeed's disastrous SPAC IPO as a cautionary tale, while Elon Lekakou argues that 'commenting on political news is a well that is running dry.' Patrick concludes that what Daily Wire needs most is a 'real operator' CEO — analogous to what MrBeast did by hiring Jeffrey Housenholdt — who can diversify the brand beyond Shapiro's content, much like ABC built Dr. Phil and Dr. Oz into standalone assets while Oprah was still on air.
Daily Wire IPO target: $2B valuation
Bankers say a $2 billion IPO valuation could be achievable within 18 months after a current fundraise valuing the company at $750 million.
Daily Wire EBITDA: $48M
Daily Wire disclosed $48 million in EBITDA last year but has seen subscriber growth collapse from 151% in 2021 to -16% in 2026.
MrBeast earned $300M in 2025
Forbes ranked MrBeast number one on its top content creator earnings list with $300 million made in 2025, far exceeding any traditional media company.
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