Private island featured in Fyre Festival’s promo video up for sale; Tesla on track for record year
Morning Business Outlook: Private 35-acre Saddleback Cay Island in the Bahamas, which was featured in the failed Fyre Festival’s promotional video, on the market for $11.8 million; Tesla reports over 95,000 cars were delivered during the company’s second quarter.
Kendall Jenner has agreed to cough up $90,000 to settle a lawsuit in connection with the scandal-plagued 2017 Fyre Festival, which the supermodel promoted on social media leading up to the bombed event, according to recent reports.
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Court papers submitted Tuesday showed Jenner agreed to pay the five-figure sum to resolve a lawsuit from August 2019, which was filed by a man looking to recoup money for creditors who had invested in the failed venture, fashion site WWD reported Wednesday.
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Jenner allegedly promoted the festival in a since-deleted Instagram post from January 2017. She was reportedly paid $275,000, but failed to indicate that it was a sponsored ad. The promoted post also allegedly implied that Jenner’s superstar brother-in-law, Kanye West, would be one of the people performing at the getaway, according to WWD.
Other people who promoted the event include models Bella Hadid, Emily Ratajkowski and other models and celebrities, all of whom allegedly targeted well-heeled Millennials with ticket packages ranging from $1,200 to over $100,000 and promising five-star dining and luxury accommodations. Headliners included rockers Blink-182, hip-hop act Migos and the electronic music trio Major Lazer.
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Instead of putting the tropical island on the map as the next big destination music experience, Fyre Festival only succeeded in sparking outrage.