How Did Dan Blizerian Make His Money
His Instagram is the stuff of legend and has even earned him the rank of King of Instagram. Millions of followers have seen him cruise around in yachts, sleep on stacks of money, and even fired M-60 machine guns.
Dan Bilzerian denied accusations that he sucks at poker and that he made all his money from trust funds. He still sucks in general, though. The lease on his home in the ritzy Los Angeles hills, for example, is $200,000 a month. Dan Bilzerian does not pay this rent. The house and everything else—the models, the flights, the yachts. Dan Bilzerian has a net worth of $200 million. How Did Dan Bilzerian Make His Money? He inherited most of it. His father is a wealthy stockbroker and corporate raider. His father set up a trust fund for Dan Bilzerian and his brother Adam.
He's also an actor and entrepreneur who made his riches playing poker. At least, that's what he has told the world.
But, lately, Dan Bilzerian's lifestyle has caught up with him, a lot of his past has come to light, and he doesn't seem to be that perfect alpha-male example. Let us tell you all about it in this Forensics.
Who is Dan Bilzerian: Early life
Born in 1980, Daniel Brandon Bilzerian is the son of Paul Bilzerian. We need to pause here and go back to the Bilzerian genealogy for just a minute because Paul was quite a character.
After serving in Vietnam and a stint in university, he made a big name for himself in the corporate world in the '80s by becoming a corporate raider.
Corporate raiders are people who buy large stakes in companies and, after gaining control, take action to increase the stock value. But these actions are usually either unethical or go against company management.
People knew him as aggressive and sometimes successful. But his practices were just too obvious, and the SEC was on to him in no time. By 1989, authorities accused him of fraud.
But Paul Bilzerian was elusive. He delayed trials and used defense allegations such as I didn't hurt anybody or Hey, I'm a Vietnam vet! His strategy paid off as authorities could not put him away for the full extent of his crimes. Instead, he'd end up paying but a fraction of his theoretical punishment.
He served 16 months in prison instead of four years and paid just $3.7 million of the $62 he had defrauded. And, trust me, there are two fundamental reasons why I'm telling you this.
But first, let's go back to Dan.
College, the Navy, and poker beginnings.
Dan Bilzerian wasn't a good student, anything but as he dropped out of four high schools in just three years. Given his failed academic endeavors, he enrolled in the navy. Apparently, he was weeks away from graduating from the highly demanding Navy Seals, but he 'pissed off' an officer, leading to his expulsion. Apparently.
So, he gave the academy one more shot, and he enrolled in the University of Florida, where he apparently graduated from Business. Apparently.
But most importantly for our story, that's where he fell in love with poker, a love affair that eventually broke him.
Dan Bilzerian has said that in 2007, he had only $750, which he got from selling some of his guns. According to him, he was determined to bounce back and, on his way to Vegas, managed to turn those $750 into $10 000. Then, into $187 000.
Big poker money and even bigger questions:
Dan Bilzerian had long said that the funding for such a lavish lifestyle has come from poker, and poker alone. Repeatedly, he has stated that he's earned as much as $50 million playing poker, and the media believes him.
In 2013, when he had a mere 200 000 followers, the Daily Mail called him the $100-million poker champion. They also called him a playboy with a lunatic lifestyle, but who reads those articles, anyway?
And yes, the world of poker is quite lavish. But some people within the poker circles didn't buy Bilzerian's persona. Professional player Doug Polk went as far as analyzing Bilzerian's game and found many inconsistencies and mistakes professionals at that alleged level don't make.
Though some criticized him, many accepted the fact, pro or not, Bilzerian was a walking promotion machine. Followers increased exponentially, and poker was regaining popularity thanks to him. People wanted his lifestyle, even if it was extreme.
So extreme that some sources disagree on how many heart attacks he's had: the base number is two, before the age of 30. Some sources say he had a third one, but others say it was a pulmonary embolism.
At first, he said it was due to fatigue because he didn't sleep for three days. But then he revealed it was more a combination of Viagra, cocaine, and exhaustion. Light stuff.
But why does all of this matter?
The money came from somewhere
how did dan bilzerian get rich
In 2014, Dan Bilzerian finally told WSJ that he had inherited some money from his father. But, he didn't disclose how much.
And here's the first reason why I was telling you all those things about his father.
Paul Bilzerian never actually returned the money to the SEC because he declared bankruptcy in 1991. But what he did was funnel the money through a complicated network of partner companies and trust funds. Some companies belonged to his wife; he owned others, but proving so was problematic for the authorities, and one of the trust funds, which had a total of $11.86 million, belonged to his two sons.
Now, we're not saying Dan Bilzerian's money comes from his father's shady businesses, but we're not saying it doesn't. What we know is that since about age 30, he's been in the public eye, for better or for worse.
Bilzerian has never shied away from the spotlight. In fact, he has even ventured into acting. He invested $1 million in the film Lone Survivor in exchange for eight minutes and about thirty seconds of dialogue.
Wait, you can do that?
Anyway, the film company cut his screen time to about a minute and just one dialogue line. He wasn't happy, so he sued them. Eventually, the movie was so successful, he earned more from royalties than the lawsuit, so he dropped it.
But it hasn't only shortened screen times. It's gotten to be more serious.
Bilzerian was present at the Vegas Shooting and decided that it was okay to film himself then post the videos on Instagram. He described the chaos in the first videos, even narrating how people had died around him. Other videos surfaced in which he played hero and asked a cop for a gun to help out.
The video shows him flashing what seems to be his gun permit and asking for a gun. He asked officers: don't you want my help? To which one police officer politely replied, 'who the fuck are you? Get away from me.'
Many, including veterans, criticized him for wanting the spotlight and uploading the videos to Instagram, which he has since taken down.
The controversies add up. Once, Bilzerian threw a woman into a pool and broke her foot. She sued, and his lawyer said it was 'an act of God.' He kicked a model's face at a bar but claimed he was breaking up a fight. Then he was arrested for trying to build a bomb.
So, when he announced his new company, Ignite, the world took notice.
An intriguing business venture
In 2017, Bilzerian created the Ignite Cannabis company to become, in its own words, the first premium global cannabis brand. After just months in existence, Ignite said it was a lifestyle brand. They still sold their cannabis products but also included clothing, beverages, and vapes.
Ignite went public in February 2019 and reported an accumulated $3.5 million in revenue from January to June. They had hired lifestyle veterans such as Linda Menzel and Gene Bernaudo. So, it was a promising start, right?
Not really. The company had $23 million in losses during that same period. And it doesn't end there, because there was a big question.
Journalist Chris Roberts sums it up perfectly:
I cover weed and CBD for a living. I live in an area absolutely saturated with CBD products. And I do not think I have ever seen an Ignite product out in the wild.
So, while young companies can struggle to reach profitability, and some might even have difficulties placing their products, Ignite was different. The company wasn't just financing itself.
A luxurious sinking ship
Ignite enjoyed a $52 million valuation at the beginning of 2020. CBD and THC products had seen an increase in consumption in the past months and the, as the global health crisis sharpened, companies in the market saw a boost in sales, but Ignite didn't.
Though rumors were floating in the air, the reason for the losses surfaced in mid-2020. Ignite was Bilzerian's cash cow. The company funneled $67 million to finance his lifestyle and pay for such expenses as the lease for his Los Angeles home, about $200 000 a month.
Other expenses included $15 000 for a ping-pong table, $26 000 in Instagram promotion, and a $130 000 Bahamas photoshoot. All Dan Bilzerian did was swipe the credit card, and Ignite took the blow.
After the report, anonymous employees confirmed Ignite was there basically to pay for Bilzerian's tastes. They remained undercover for an important reason.
When the company's former president, Curtis Heffernan, questioned the expenses and refused to pay for them, Dan Bilzerian fired him the next day. This, once again, went to court.
But the financial hardship went deeper. Ignite's money came from two sources: one was through issuing and selling stocks, and the other was through raising debt. According to Ignite's annual filing, $25 million came from shares, $20 million from convertible debt, and $24 million from what they refer to as a 'short-term promissory note.'
So, the company existed thanks to outside money and no real sales. Add to this that the internal finances made no sense.
Ignite's promotion budget was $22 million while revenue was less than half, and all the while, Bilzerian was not slowing down. His IG kept showing bikini-clad women, yachts, and stacks of money. When news broke out of Ignite's finances, he downplayed the situation, using Uber's financial position as a reference, which has famously operated at a loss since its beginning.
Despite his comments, Ignite was struggling. In less than a year, it had four presidents. Also, partners felt the risk was too high, and in October of 2020, CannMart, one of their main partners and their leading distributor in Canada, decided to terminate the partnership.
With heavy losses, no products, and no distributor, Ignite's stock plummeted from $1.44 Canadian to $0,36 in no time.
As of the making of this video, analysts have said Ignite has only weeks to live. One estimate is that by the end of the year, the company will go bankrupt.
So, it seems that the magic carpet ride is over. The funds for a modern-day Sodoma and Gomorrah have dried up. Perhaps, the SEC can rest in peace, knowing finally where all the money has gone. Which leads me to that other reason why history was important. The apple doesn't fall far from the tree.
More Company Forensics
Dan “Blitz” Bilzerian is possibly the best known social media celebrity. Bilzerian, called “The King of Instagram” by his followers, uses sites like Facebook, Twitter and Instagram to document his extraordinary lifestyle. Whether it’s shooting guns in a desert, driving custom-made vehicles, flying to Vegas because why not, or being surrounded by (half) naked models, Bilzerian has done it all. And he made sure that the whole world sees it.
But how did he get to this point? How can he afford such a luxurious lifestyle? What’s the origin of his wealth?
Let’s dig in, and find out exactly how rich Dan Bilzerian is, and how did he become so wealthy.
Dan Bilzerian – Net Worth – $150 Million
How Did Dan Bilzerian Get So Rich?
Dan Brandon Bilzerian was born December 7, 1980 in Tampa, Florida. As a child, he lived in a huge mansion with his father Paul, his mother Terri and his brother, Adam. His father owned a robotics company and some other investments, that he was busy with most of the time, neglecting his family. When Dan was 10 years old, his father went to prison. He was charged with 9 counts on fraud, most tax and stock related.
After his father was imprisoned, Bilzerian was expelled from two schools within a single year. Later on, Blitz went to school and brought his dad’s machine gun with him. Long story short, Dan was asked to leave the state of Utah, and never come back.
How Did Dan Bilzerian Get His Money
He decided to join the Navy SEALs, but after his second graduation attempt, he dropped out. After that, his gambling career and rise to fame, started.
His early attempts didn’t go as planned, and he went broke in a year. Dan was forced to sell his loved guns, and returned to poker tables, this time playing with more self-control. After making $10,000, he flew to Vegas, where he turned 10 grand into nearly $200,000.
Encouraged by his success, he went back to university to study, but also kept playing poker cash games ( no stake limit games). He claims that he made up to $90,000 a week, and that was the reason he dropped out, and devoted himself to poker.
He was 27 years old when he first entered the high-stake tournaments. He ended up winning $36,000 and finishing in 180th place, severely disappointed (mostly because the winner got $8.5 million).
However, Dan Bilzerian was charismatic and interesting, so he got plenty of screen time. The results of that were his first public stunts, and the beginning of his reckless lifestyle. He started betting big and often, and entered the so-called “nosebleed” games.
Nosebleed games are the highest stake poker games, with millions worth of chips being played. Bilzerian was playing such games against superstars like Mark Wahlberg and Tobey Maguire.
Dan doesn’t consider himself among the world’s best poker players. He has simply stated that he can get to some of the most lucrative games that are being played, and that he can pick them well.
He started winning millions of dollars at poker tournaments and enjoying his fame.
At the same time, his big wins motivated him to start publishing his everyday life on social media outlets. He quickly amassed many followers, got sponsorship deals and started not giving a damn about anything else except his lifestyle.
Right now, Bilzerian has 1,35 million followers on Twitter, 17,4 million on Instagram and 10 million Facebook fans.
Most of Bilzerian’s wealth come from gambling, mainly poker. But he also made money by acting, getting sponsorship deals and selling merchandise with his name on it.
Dan Bilzerian’s Personal Life & FAQ
Is Dan Bilzerian married?
To answer this question, I will quote something that Dan wrote on his Instagram.
If you are thinking about getting married, just remember, one vagina for the rest of your life… Not smart.
So there’s the answer.
However, he was in a relationship with a Playbol model, Jessa Hinton, but that didn’t last long. She took notice of newspaper articles that wrote about Bilzerian’s private poker games, that, allegedly, often included prostitutes and drugs.
Bilzerian however enjoys the company of young supermodels, and isn’t ashamed of it. His Instagram feed is filled with images similar to the one on the right.
Where Does Dan Bilzerian Live – Picture of Bilzerian’s Houses
Dan Bilzerian lives in the Hollywood Hills, where his neighbours are people like Leonardo DiCaprio. The house has a 270-degree view over the city, a big pool, poker tables, and a big garage for his vehicles.
He lives with 2 goats and a cat, all of which sleep outside on a $700 blanket.
He often hosts parties and makes sure to publish them on social media.
Dan Bilzerian also has houses in Los Angeles and La Jolla, San Diego. All of them very luxurious, obviously, to suit his lifestyle.
Other than that, he frequently rents out expensive condos and houses while travelling.
Dan Bilzerian’s Cars – Take A Look Into Bilzerian’s Exclusive Garage
As mentioned above, Dan has a big garage to store all of his vehicles. Right now, he has several very expensive cars, ranging from sports cars to a custom-made Brabus truck.
He owns a chroma-plated 1965 Shelby Cobra with a vanity plate that spells out “SUCK IT”. Speaking of vanity plates, his Lamborghini Aventador spells out “MR GOAT”, which is a tribute to his pet goat, Zeus.
Bilzerian has recently ordered a custom-made Brabus G63 AMG 6×6 truck that he enjoys showing off on Instagram. A similar vehicle can be purchased directly from Brabus. Price? Roughly $760,000.
Bilzerian has also bought a Polaris RZR 900, an offroad vehicle, on which he plants to mount a custom machine gun. Dan sure knows how to combine his favorite things in the world – excessive amounts of money, cars and guns.
He also enjoys renting out Ferraris and other sports cars from time to time, and was given a Bentley as a Christmas gift, by his father.
Dan Bilzerian’s Income in 2018 – How Much Money Does Bilzerian Make
Dan Bilzerian doesn’t have a fixed salary, or income, for that matter. He makes his money by winning huge poker pots, and then proceeds to spent it partying.
In 2013 for example, Bilzerian won close to $11 million dollars playing poker in a single night. He took the opportunity to brag about his wining on Instagram, and then flew to Mexico in order to “relax”, as he said it.
In December 2013, Bilzerian claimed that he had a net worth of $100 million, but in 2015 his estimated wealth is $150 million.
So in roughly year and a half, Bilzerian has increased his wealth by $50,000,000 which is really saying something about his income.
Dan Bilzerian Fun Facts – Interesting Things From Bilzerian’s Life
He has suffered 3 heart attacks by the time he was 32, due his reckless lifestyle.
Bilzerian turned down a $100,000 offer (by an unnamed Facebook funder) to shave his beard.
Apparently, Bilzerian’s home is filled with loaded guns, and anyone entering is frisked and warned about the guns by Dan’s security guards.
He invested 20% of the $10,000 buy-in for the poker prodigy, Jay Farber. Farber won World Series of Poker 2013, a move worth $5 million. Obviously, 20% of that went to Bilzerian.
Dan Bilzerian’s Charity Donations
What Is Dan Bilzerian Net Worth
Even when doing charity work, Bilzerian does it in his own style. Last year, he has rented out his Hollywood Hills mansion to Steve Aoki’s Charitable Fund. Together, the famous DJ and Bilzerian hosted a poker tournament and a celebrity party, all in one.
Fans from all over the world were invited to the event, but only some of them were lucky enough to be chosen. After a night of playing poker and partying, the winner won many prizes, including a ticket to the famous Merryweather vs. Pacquiao fight.
Up to $100,000 was raised for charity during the huge party. Steve Aoki has promised to host more such events in the future.
Recently, Bilzerian has gotten a bit quieter than his usual self, and increased his charity donations.
What’s next for the social media playboy? More partying, poker and luxurious purchases? Or will he attempt to calm down? No one knows, but I’m sure we’ll find out soon enough, because Dan’s life is never private.