Billy McFarland leaving the US Federal Court in Manhattan on July 1st.
By Brendan McDermid/Reuters.
Billy McFarland, the infamous organizer of the even more infamous Fyre Festival, has reportedly moved back in with his parents. Meanwhile, the luxury penthouse he was renting in the Meatpacking District of New York City is on sale for $7.5 million, per Page Six. McFarland was reportedly paying $25,000 a month for the place before he was arrested on fraud charges in June. He is currently out on $300,000 bail.
McFarland’s landlord at this latest place told The Wall Street Journal that McFarland had been a “great tenant.” But that apparently hasn’t always been the case. In 2015, the New York Post reported that McFarland, then 23, was being sued for $100,000 worth of damages for repairs to a West Village townhouse.
As reported by Vanity Fair, McFarland, the son of New Jersey real-estate developers, called himself a “serial entrepreneur” who had started and sold three companies before he graduated from high school in 2010. After his social-media music service, Spling, was accepted by venture-capital “accelerator” Dreamit during his freshman year of college at Bucknell University, McFarland left school.
When Spling failed, McFarland moved to Manhattan and developed “Magnises,” his own version of the American Express Centurion Card. As Vanity Fair noted, McFarland began to “lose interest” in his own company, which was receiving many significant complaints from customers. But his latest project, Fyre Festival, will no doubt be known as McFarland’s greatest flop to date. Good thing he’s now got $25,000 more each month to put toward whatever venture will restore his good name.
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