Fyre Fest Founder Billy McFarland Claims He Has Secured Funding To Pay Off Debt And Host New Festival

Fyre Fest founder Billy McFarland says he has secured the funds to launch a new festival, pay off his debts, and create a Broadway musical based on the first event.

In 2017, McFarland created the original Fyre Festival but failed.  The fest was originally set for two weekends on a private beach in the Bahamas but was revealed to be fraudulent due to poor conditions and lack of food and water.

Last year, Mcfarland was released from prison early after he was arrested and charged with multiple counts of fraud.

Since then, McFarland has claimed to come up with a plan to repay the $26 million he owes to investors.

“Here’s how I’m going to pay it back: I spend half my time filming TV shows. The other half, I focus on what I’m really, really good at,” he said on Twitter.

“I’m the best at coming up with wild creative, getting talent together, and delivering the moment,” he added.

McFarland revealed the seemingly good news on TikTok after he announced that he raised enough money for a new festival and a Broadway show.

“Instead of like traditional Broadway actors, it’s going to be current music artists, combined with the Broadway format of the play — making fun of me, but also I think sharing some of the good sides as well,” he said of Fyre Fest 1.5.

As for those owed money in the Bahamas, he said: “They’re getting paid back and getting paid back, like right now.”

He further claimed that multiple artists have been hitting him up wanting to be apart of the upcoming line-up.

“The reaction for getting artists has been so extreme,” he said. “Half of them are like, ‘Fuck off, how dare you call us’. And there’s half [who have been] been texting, emailing, saying, ‘Hey, like what can we do to come?’”