However, Bilzerian didn’t make it to graduation because according to him, he was making so much money in a week that it made him question his choice to continue with his studies. In some weeks, he’d make $90,000 and at 27, Bilzerian made it to the high-stakes poker games.

• How Did Dan Bilzerian Make His Money
• What Is Dan Bilzerian Net Worth

Here's how Dan Bilzerian made his money: Dan has managed to make a killing in the followers department on Instagram because the man knows how to show off the expensive things he has in life. He doesnt have ethical values, loves guns, fucks, does drugs and much more. The majority of his money is inherited. It's pretty obvious he did not win that much playing poker. He claims to play against fish which is true but you don't make millions off of them. I would guess that less than 100 players worldwide make more than a million dollars from playing poker. Bilzerian was dared to hop on a bike and ride from his residence in West Hollywood all the way to Vegas, in less than forty-eight hours. Bilzerian accepted, adding six hundred thousand dollars to the bet, raising the total amount involved to 1.2 million dollars. How did he go about winning it? How does Dan Bilzerian make money? His father Dan Bilzerian is widely know to have stolen some $62 million in securities fraud. He is a savvy guy at ducking the law and hiding assets, and has successfully managed to protect the money he stole and that is where Dan got.

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.

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 Bilzerian has earned himself many nicknames on the Internet related to his love for bling, girls, and guns. The “King of Instagram,” one of the monikers Bilzerian goes by, has enjoyed the finer things in life in an often ostentatious fashion.

Whether you like the man or not, if you have come across his public stunts on social media, or perhaps in person, you are bound to recognize the name, and if not, let’s help you find out who he is.

The Rise to Fame

In 2013, during the World Series of Poker held in Las Vegas was when Bilzerian broke into the limelight. Why? This guy had at least $7 million in the pot as a bet! Now the deep pockets displayed by this monstrous bet weren’t the only jaw-dropping feature of the event.

Next to this interesting Bilzerian character was a female, the kind you only see on runways or Playboy magazine, doing nothing but stroking his beard. Note that this beauty was paid to do that and it was enough to let the world know Bilzerian had the deep pockets of Bruce Wayne and the female allure of Hugh Hefner.

But how did Dan Bilzerian “come to be?”

How Did Dan Bilzerian Make His Money

Dan “Blitz” Bilzerian: The Genesis

Dan grew up in Tampa, Florida in what would pass for a scripted Hollywood movie childhood. His dad bears roots from the Armenian diaspora and seems to be the source of all the wealth. He owned multiple investments including a robotics company. While money seems to run endlessly in the family, intelligence also runs side by side.

The stellar attributes also came with a fair share of challenges with Bilzerian Jnr taking the hit. According to him, he didn’t get much attention from his dad, probably the reason for his flaunty lifestyle. When he did, it was at 10 years old when his dad told him he would go to jail.

That only served to increase Bilzerian’s life stresses with classmates launching ridicules. Ultimately, this pushed him to a downward spiral with two suspensions in a year. At one point, Bilzerian drove to school with an M16 machine gun. This was in Utah where the family moved to and authorities expelled him from the state.

He later joined the military but dropped out due to injuries incurred during SEAL training. With $6,000 as honorable discharge and disability allowance, he joined the University of Florida, and that’s where the gambling started.

Gambling, Going Broke, and Back to Riches

During his second year, Bilzerian was already broke due to gambling and was forced to part with his guns since he couldn’t access his assets. With this money, Dan took to the poker table again. According to him, he used $750 and flipped it into $10,000. With this money, he went to Las Vegas and flipped the money into $187,000.

He later decided to go back to class while honing his skills in the more profitable “cash games.” However, Bilzerian didn’t make it to graduation because according to him, he was making so much money in a week that it made him question his choice to continue with his studies.

In some weeks, he’d make $90,000 and at 27, Bilzerian made it to the high-stakes poker games. His first game came in 2007 when he checked into the Harveys Lake Tahoe hotel armed with a briefcase loaded with $100,000 cash. Nevertheless, he didn’t sit to the last minute after he walked from the table mad that other players were so nitty and only saw him as a bank vault.

Bilzerian would later make his entrance to massive tournaments but that also took a disappointing turn. He finished in the 180^th place with $36,000 as a consolation prize but thanks to the charisma he showed during the tournament, ESPN, the tournament’s broadcaster shed a generous amount of screen-time on him.

As a result, Victory Poker, now out of business, offered Bilzerian a sponsorship deal. This led to some crazy public stunts such as a $400,000 drag race bet against his lawyer, blowing up an RV in the desert using a 50-caliber machine gun, and swimming in an alligator-infested lake. The list goes on and on.

What Is Dan Bilzerian Net Worth

Back to the private cash games, Dan was famous for betting big and too often. Of course, his fellow multi-millionaires ended up with Bilzerian’s money. For instance, he once wagered $2.3 million on a coin flip. You can guess the result. He lost!

His high-stakes wagers didn’t stop there. Bilzerian would later host several poker games in his L.A. home against celebrity and multi-billionaire friends that include Mark Wahlberg, Nick Cassavetes, and Tobey Maguire just to mention a few.

Bilzerian’s Net Worth and Women

That’s not the only house he owns. Bilzerian also owns a house in the exclusive gated estate up in the Hollywood Hills. This is where you find the likes of Leonardo DiCaprio and Sam Nazaria. Among the features in this house include a sunken living room, poker tables, cash machines, a pool overseeing the hills, and a garage housing the Lamborghini Aventador and a 1965 AC Cobra.

The now 39-year old poker player is also said to own another home in Mexico. But with such a flashy lifestyle, how much is Dan Bilzerian worth? According to Wealthygorilla, the “King of Instagram” is worth roughly $200 million.

As far as women go, it’s no doubt the multi-millionaire appeals to a wide variety of multi-cultural babes from across the globe. According to Bilzerian, he considers himself a man’s man and a ladies’ man. The latter, he says, is because he spends most of his time with ladies. Having said that, you would imagine he doesn’t have a problem finding a girlfriend.

While that may be true, it appears he isn’t the one-man-one-woman kinda guy. Jessa Hinton, a Playboy playmate was once his girlfriend but the relationship hit a dead-end when she came across a tabloid describing private Hollywood card games as events filled with prostitutes and drugs. She says she slapped him after reading the tabloid.

Apart from walking around with an endless list of fine-looking ladies, he’s been on the crosshairs for his ill depictions of women. One time, he tweeted on a photo “Ugly girls hurt my eyes.” In the photo, a lady’s face of the several in the photo was scribbled out.

What Next for Bilzerian?

The internet phenomenon that is Bilzerian is unpredictable. However, in recent years, the Instagram King has been on a quest for “respect.” It’s not clear why he’s on this path but that won’t stop him from entertaining his over 42 million followers on social media going forward. So, hate him or love him, you won’t find another Instagram page with so much thrill, fun, and controversy.

Tags: