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.
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!
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.
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.
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!
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