How did Billy McFarland make money?


Billy McFarland made money primarily through his company, Magnesis, which was a membership-based business model. Magnesis offered a physical card that provided members with various perks and benefits. Members paid an annual fee to access these exclusive perks, and the business also generated revenue by partnering with brands that wanted to offer special deals to Magnesis members. However, McFarland's pursuits became overly ambitious with the launch of Fyre Festival, leading to financial and legal troubles that ultimately brought down both Fyre Festival and Magnesis 1.

Magnesis Perks

Billy explains how Magnesis grew from a physical card to a membership-based model where members would pay an annual fee to get access to exclusive perks and benefits. The members themselves brought in the perks and benefits, which allowed Magnesis to make money from both sides.

My First Million

Fyre Festival Founder Shares His Next Business Venture With Us (#399)