Dan Bilzerian’s CBD company Ignite reportedly lost a shocking amount of money in 2019.
According to Forbes, the company that pushes CBD products, vodka, water and clothing lost $50 million last year. (RELATED: David Hookstead Is The True King In The North When It Comes To College Football)
According to the same report, Ignite somehow managed to lose $43 million in operating costs alone last year.
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Not great for Dan! To make matters worse, Forbes reported that for every dollar in sales, Ignite was spending roughly $2 “on general and administrative costs.” Forbes author Chris Roberts noted that he covers CBD for a living and has never even seen an Ignite product in stores.
Tough look for my guy!
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I’m not a Dan Bilzerian hater like a lot of people are on the internet. I’m pretty neutral on the Instagram playboy. I just don’t care one way or the other.
He’s rich, he likes flaunting it, he does what he wants and I don’t care enough to pay attention. It’s his life.
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Having said that, he has seemingly gone all in on Ignite, and it sounds like the company is burning in epic fashion.
How do you blow through $50 million in a single year? It doesn’t add up, especially when you factor in that Bilzerian has a huge Instagram audience he can use for promotion.
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I guess Dan Bilzerian might need to take a couple more business classes before dropping another $50 million in the CBD game.
It would seem like he doesn’t exactly know what he’s doing. You just hate to see it!
