The Biggest Wastes of Money in 2017

THE DISASTROUS FYRE FESTIVAL

Money wasted: $4 million-plus

Investor Billy McFarland was placed under arrest in June for wire fraud relating to the Fyre Festival. The ultra-luxe event was set to take place in the Bahamas over two weekends in April and May, but attendees who spent upwards of $12,000 per ticket arrived to find scattered tents, soaking mattresses, and low-quality sustenance — all the fact that McFarland had only $4 million budgeted to organize the festival.

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