People know Dan Bilzerian as the trust-fund kid who turned into poker, an Instagram celebrity and a cannabis sector entrepreneur. He is preternatural good at spending money.
Bilzerian lights his $50 million on fire by spending money on vague things. The adjacent company he founded and served as CEO. Ignite International Brands, loses $67 million last year at Canadian Stock Exchange. Where trades shares of Ignite publically, according to the ignites annual report.
All the figures mentioned in the report were in Canadian dollars, so $67 million Canadian dollars is $50 million American dollars. This is not it, in addition, Dan throws his millions on vape, alcohol, clothing, luxurious parties and even drugs.
Dan’s luxurious parties and vacations
Ignite hosts lavish parties every now and then. Throws events, and does all kinds of stuff a company can flush his million dollars on. Parties with platoons worth of supermodels are damn expensive!
In 2019, Dan’s Ignite lost $43 million on operational costs alone. Mostly marketing and vague promotions, leases on big fat offices, and compensation for staff and executives.
Posting losses isn’t entirely unheard of for early-stage companies in Silicon Valley, but what is uncommon is how bloated and profligate Bilzerian’s company managed to become in less than one year.
Dan’s social media is proof of how he lights his money on fire, hiring expensive models. Be it models, yachts, cars, guns, weed and whatnot, name it and he has it. After all the money Dan has flushed the company is in a big loss.
Although Like any businessman, it seems Bilzerian sticks someone else with the bills. Bilzerian, who owns at least a stake in other companies headquartered in Montana and Nevada, according to public records, also used Ignite as an ATM. He may or may not be in the loss, but he pays all his bills on time.
Ignite even after struggling with all the loses, cash went to pay salaries, licensing fees, business expenses, and travel expenses for companies “owned by the CEO,” according to the report.