Billy McFarland Teases New Event With Budget Larger Than Fyre

McFarland Promises Bigger Budget Than Original Fyre

In an Instagram video posted Monday, Billy McFarland said he is "retiring from rage-baiting" before promising a formal announcement to follow. The disgraced founder of Fyre Festival teased his next move without naming a location or date, only that it would outspend the disastrous 2017 festival that ultimately landed him in prison.

"This announcement is going to have some elements of the past, a modern twist and a budget bigger than Fyre 1," he said in the video.

From Prison to Boutique Island Events

McFarland served four years of a six-year sentence after pleading guilty to two counts of wire fraud. The ill-fated 2017 event on the Bahamian island of Great Exuma raised more than $24 million from investors and advertised a lineup of over 30 acts, including a reported $500,000 booking for Blink-182, none of whom performed. Its promotion plan included sponsored content from a number of high-profile influencers including Kendall Jenner, who was reportedly paid $250,000 for an Instagram post, before the project collapsed and left a number of attendees stranded.

McFarland's attempted comeback, Fyre Festival II, collapsed in 2025 after its planned Playa del Carmen run lost government support within days of going public. He subsequently sold the Fyre IP and stepped back from the brand.

Recent Island Festivals Build Momentum

He then staged a boutique festival, PHNX, on the Honduran island of Utila, a 400-guest event that included performances by French Montana, Bobby Shmurda, Slim Jxmmi and MADDS. This past weekend, McFarland followed with BZM, an event in Turks and Caicos organized in partnership with the territory's acting Premier, Jamell Robinson.

As for his next play, McFarland characterized the move as the culmination of everything he's built toward. "Our tribe has grown, and now, for the first time, we have the support to finally do what we really want to do," he said. "I will see you guys soon." He owed over $26 million as part of his plea deal and was also barred for life from serving as a director of a public company.