Dan Bilzerian's On A Massive Yacht In Croatia While His Company's Reportedly In Huge Financial Trouble

A Forbes.com report posted Tuesday states that Dan Bilzerian's CBD company, Ignite International, lost $50 million in 2019 and managed to do that after going public on the Canadian Stock Exchange on February 28, 2019. That's right, Bilzerian's company blazed through some serious cash over 10 months. $22.26 million was budgeted for "marketing and promotion" of Ignite.

Ignite wrote in its annual report that they'll need more of investor money to keep going.

Ignite stock, which trades under BILZF closed at 0.66 Wednesday, dropping 13% a day after the story was posted. According to the Forbes report, an auditor expects the company to fail. It's pretty sobering news to say the least for the Instagram mogul who rarely fails to flaunt his money. Ignite is also being sued by its former president, Curtis Heffernan, who says he was fired for not approving of Bilzerian's extravagant spending that included "$15,000 for a ping pong table, $40,000 for a rock-climbing wall and $130,340 on a Bahamian photo shoot." TMZ reports Heffernan also claims there was $75,000 spent on a paintball field, "$40k on a rock climbing wall, $60k on a 'Star Wars' gun set, $31k on pool renovations, $50k on a bed frame, $15k on a ping pong table and $88k on a vault."

Bloomberg, citing an auditor's report, reports there have been some unusual purchases by the company:

Anyway, it brings me to how Dan's handling this Forbes report. That's right, he's on a massive yacht in Croatia with a bunch of his Ignite models, according to a Croatian media report. Maybe Dan used money he's been saving over the years for a few days on the yacht. Maybe it's his super wealthy father's money. No way he'd be spending Ignite money on this with the media hot on his trail with that auditor's report, right?

via Dan Bilzerian/Instagram Story

via Dan Bilzerian/ Instagram Story