As per the various reports, the popular content creator has consistently talked about how Dan Bilzerian company IGNITE appears at the door of bankruptcy after released his annual records for the year 2020. Dan Bilzerian is the CEO / founder of Ignite, the self-proclaimed king of Instagram and other social media platform, which specializes in various cannabis and electronic vaping and smoking products. The company incurred a loss of about $ 50 million last year.
Ignite’s diving stock prices have been stated to be due to Dan Bilzerian’s continued spending and not enough practices in business. He has been accused of using Ignite as a “personal treasure trove”, and the company’s downfall is attributed to Bilzerian’s continued spending – something that various YouTubers have reported, through financial reports and Evidence has been found.
Dan Bilzerian company IGNITE are at the door of bankruptcy
Dan Bilzerian’s Ignite has always been at the end of its shady financial-related speculation. Heffernan, former president of Ignite Curtis, has accused Dan Bilzerian of funnelling the company’s resources on a consistent basis to finance his extraordinary lifestyle.
Some journalist said Ignite was funding my life, bitch I been going hard for 10 yrs and been famous for going hard for 7. I started Ignite 2 yrs ago, raised around 100 mil and I own the majority of the company, suck my dickAdvertisement
— Dan Bilzerian (@DanBilzerian) August 1, 2020
Heffernan was reportedly dismissed when he refused to approve personal expenses. Where on the other side, Dan Bilzerian himself has ensured that his company is in solid financial shape and has mocked the media several times on Twitter. This is despite the fact that Ignite’s share prices have fallen as low as $ 0.36, and are currently equivalent to $ .49 on 3rd December 2021.
Uber is worth 80 billion, it has never had a profitable month since it started and it lost over 5 billion in one quarter last year.
— Dan Bilzerian (@DanBilzerian) October 14, 2020
In addition, several YouTubers have laid their hands on this year’s financial records, discussing how the company are at the door of bankruptcy. As per the sources, Ignite is a heavy debt, it has more liability than assets and Dan Bilzerian has consistently funnelled approx. $5 million a quarter over the past 3 years.
In total, Ignite owes investors about $ 40 million, in addition to being constantly in debt. He has generated approximately $ 1.5 million in profits over the last two years (each), which is not enough to fund his CEO’s overall spending on himself and PR.
All the dumb ass journalists patiently waiting for Ignite to go bankrupt pic.twitter.com/pTm4s5H78p
— Dan Bilzerian (@DanBilzerian) October 20, 2020
According to the video, Ignite is in terrible financial shape and is expected to go bankrupt within the next few weeks. This is despite many insults and jokes that Dan Bilzerian has been talking about these rumours over the past few months.
“Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety”- Ben Franklin
— Dan Bilzerian (@DanBilzerian) December 3, 2020
For now, it seems as if the company has survived a terrible financial year, and it will be exciting to watch whether Dan Bilzerian can change his fortunes over the next upcoming few months or not.