How a Black-Card Wannabe Went Down In Flames

Billy McFarland was all smiles as he walked into a holiday party in December 2015, flanked by an entourage decked out in blazers and puffy coats. The DJ cranked tunes, a snow machine spit out flakes and his business partner, rapper Ja Rule, grabbed the mic for a throwback set. McFarland’s Black Card-like club, Magnises, had just expanded to the nation’s capital, its first foray outside New York. Next up was San Francisco, with plans for Chicago and Boston. It was time to celebrate.

And for a little while, he did. Over a few years the credit card-thin idea had attracted millions of dollars of investment capital and some favorable press. Parties, special events and some big names helped push McFarland’s brainchild past initial hurdles. But in the end, it was not to be. Another McFarland idea, one for a Bahamas music festival to hype his talent-booking service, Fyre Media LLC, would help bring it all tumbling down.