Skip to Content

5 Real Reasons Why Mr. Krabs Is Addicted To Money

It’s no secret that Mr. Krabs loves money.

In fact, his addiction’s the thing most people remember about him.

However, there’s so much more to his penny-pinching than greed.

Plus, you’ll be surprised at how deep it goes.

And maybe even take pity on Mr. Krabs.

Continue reading to discover:

  • What kind of lonely battle Mr. Krabs has been experiencing.
  • A quick look at Eugene’s backstory and how it changed him.
  • How his family life’s affecting the way he handles his finances.
  • And so much more…

Why is Mr. Krabs addicted to money? 5 reasons


#1: Mr. Krabs grew up poor

Although Mr. Krabs has lots of money now…

He didn’t have much when he was younger.

In the Friend or Foe episode, it was revealed that he was poor.

In fact, he only wore sewn-together washcloths as clothes.

What’s worse, he was the victim of a lot of bullying.

And all the other kids called him names like “rag boy.”

On top of that, study shows poverty can affect child development.

So Mr. Krabs had quite a rough childhood.

And if you connect the dots…

It’s not a surprise why Eugene’s obsessed with earning profit.

He doesn’t want to go back to how things were before.

As a result, he’s always so desperate to earn a quick buck.

And nothing will stop him from living the life he never had as a kid.

#2: Eugene needs to take care of his daughter

Mr. Krabs is the father of Pearl Krabs.

And while he might not be the best parent in Bikini Bottom…

He’s also got his good moments:

So what does this have to do with his money addiction, you ask?

Well, raising a child’s not cheap.

Not to mention Pearl’s a whale.

As a result, it will cost Eugene a lot more to take care of her.

So it’s only natural that he’s working so hard and saving up a lot of money.

He’s simply preparing for a rainy day.

And he’s making sure he can give Pearl everything she deserves.

On top of that, let’s not forget that Mr. Krabs is a single parent.

You don’t ever get to see or hear about Mrs. Krabs.

Therefore, all the responsibilities fall on Eugene. 

And supporting their family by himself explains his addiction.

#3: Money addiction runs in the family

I know it sounds like a lame excuse.

But it’s actually true.

The obsession over money runs in the Krabs family.

So we can’t just point fingers at Mr. Krabs.

For example, we’ve got Pappy Krabs from the Pest of the West episode.

He owns the Krusty Kantina. A local saloon that would later become the Krusty Krab.

And Pappy Krabs loved earning a profit just as much as present-day Mr. Krabs.

On top of that, we also have his grandfather, Redbeard Krabs.

And Redbeard worked as an actual pirate.

A career that’s infamous for stealing booty and hauling treasure.

In fact, if you go through all of the SpongeBob episodes and seasons.

You’ll find many more of the Krabs family that can’t keep their focus away from money.

Plus, there’s an actual Cheapest Crab Award.

A trophy that goes to the biggest cheapskate crustacean. 

So it’s not just a family thing.

Being in love with money is part of their species.

#4: Too many bills to pay

Mr. Krabs can get pretty creative and cunning when it comes to bills.

In fact, he even charged Spongebob $100 an hour to work at the Krusty Krab when he started.

And for groceries, Mr. Krabs sends out his employees to pay back the farm in services instead of cash.

Plus, in the Growth Spout episode. He’s no stranger to raiding other people’s kitchens and refrigerators.

“Wait, so where does he end up paying bills then?”

Well, the Krusty Krab almost always gets destroyed every other episode.

And whether it’s Plankton’s plans…

Or maybe even Spongebob and his shenanigans…

The place can’t catch a break.

For example, in the Dying for Pie episode.

Mr. Krabs fell down and caused a small crumb of pie to explode.

And it blew the Krusty Krab to pieces.

So since that kind of stuff happens quite often…

It’s not that shocking to see Eugene so obsessed with money.

He needs to pay for all the repairs and construction.

#5: A coping mechanism against depression

Although Mr. Krabs doesn’t show it…

He’s actually suffering from depression.

Back in the Krusty Krab Training Video episode.

It mentioned that:

“After the war, Krabs stayed secluded in a deep depression that seemed endless.”

And research shows that it doesn’t just affect your mental health.

It can also negatively impact your physical well-being too.

As a result, earning a profit’s his way of keeping his mind clear.

It’s not an addiction to cash.

But a coping mechanism to prevent him from remembering traumatic events.