The rise and fall of Dan Bilzerian

Dan Bilzerian is one of the most controversial internet personalities in recent times. The American venture capitalist and Instagrammer has garnered a massive community across social media profiles. His regular posts about his extravagantly rich lifestyle have seen him labeled ‘The King of Simps.’

Recently, quite a few accusations have been made against Dan Bilzerian. The financial situation of his company, Ignite International Limited, has often been talked about, as it has ended up with losses of around $50 million since last year.

It all began when former president Curtis Heffernan filed a lawsuit claiming he was fired after refusing to allow Dan Bilzerian to use the company’s money for his self.

Image Credits: PokerTube

From ‘casanova’ to ‘bankruptcy’: The Dan Bilzerian case

For years, Dan Bilzerian has maintained his ‘casanova’ like an ultra-rich lifestyle on various social media channels. However, people have always speculated about the source of his money, as his company has not been in the best financial situation for a long time.

Ignite received around $1.2 million in Paycheck Protection Program Loans in 2019 after claiming to be incapable of paying off employees’ salaries. With Dan Bilzerian having little income source apart from the company, and following some other failed business ventures, the last few months appear to have been extra challenging for the social media influencer.

The lawsuit, the company’s falling share prices, and the lack of information on the matter has led to widespread speculation that the 39-year-old is on the verge of bankruptcy. He had only recently posted on Twitter mocking people who expect him to announce bankruptcy in the coming weeks.

All the dumb ass journalists patiently waiting for Ignite to go bankrupt pic.twitter.com/pTm4s5H78p

— Dan Bilzerian (@DanBilzerian) October 20, 2020

Dan Bilzerian appeared to be in a different kind of mood, according to the post seen above. While his company is indeed in financial trouble considering the extent of evidence available, he appears to have things under control, if only for the time being.

Furthermore, the brand of content and its rather ‘suggestive’ nature have also been pointed out and criticized of late. Like every famous social media influencer, the Tampa native has a large and loyal fanbase who, at different points, have been forced to defend him.

According to the newly released financial statements, Ignite has already LOST almost 100 Million USD since its creation. A great businessman you've become, Dan! I see Bankruptcy and then Prison in your future, just wait for it.Bilzerian? More like BILLLLLLZERIAN.#TakingLs pic.twitter.com/qtIlfmGuto

— soy alvarito 🍅 (@alvarito8tweet) October 20, 2020

However, with the recent accusations about using investors’ money for his own extravagant lifestyle, things appear to be changing. More and more people have begun to call him out, while some have even speculated that we might see a day when Dan Bilzerian finds himself in prison!

Watch YouTuber SunnyV2’s video on the matter below.