The business visionary behind the Fyre Festival reportedly bought up pricy concert and theater tickets to sell on members of his other business, racking up thousands of dollars in losses along the way, according to a report from Vice News.

Billy McFarland, the now-infamous cofounder of Fyre media, also once started a high-end membership brand called Magnises. Vice News got a look at internal documents from the companies that showed McFarland used Fyre Festival credit cards to buy tickets to a variety of major shows including Adele, Broadway hit Hamilton, and Kanye West's Saint Pablo Tour. He'd then sell those tickets to Magnises members for less than he paid.  Read more...

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Fyre Festival genius reportedly scammed himself by selling Kanye West, Hamliton tickets

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What's the opposite of ticket scalping? 

The business visionary behind the Fyre Festival reportedly bought up pricy concert and theater tickets to sell on members of his other business, racking up thousands of dollars in losses along the way, according to a report from Vice News.

Billy McFarland, the now-infamous cofounder of Fyre media, also once started a high-end membership brand called Magnises. Vice News got a look at internal documents from the companies that showed McFarland used Fyre Festival credit cards to buy tickets to a variety of major shows including Adele, Broadway hit Hamilton, and Kanye West's Saint Pablo Tour. He'd then sell those tickets to Magnises members for less than he paid.  Read more...

More about Business, Fyre Festival, Billy Mcfarland, Business, and Other
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