• Billy McFarland is trying once again to pull off a new festival 8 years after his failed Fyre Festival. • McFarland, who served prison time for wire fraud and owes his victims millions, has long talked up a "Fyre Fest 2" comeback. • McFarland talked with Business Insider about the event, which he's renamed "PHNX" after selling the rights to the Fyre brand.

Billy McFarland sits in the back of a pickup truck, a breeze blowing through his slicked-back hair. As the 33-year-old rides along the bumpy roads of the Caribbean island of Utila in Honduras, he holds up his phone and films himself.

"It's happening, folks," McFarland exclaims, almost shouting into the camera. "French Montana is the headliner of the 2025 Phoenix Festival!"

400 guests on a Caribbean island, hundreds of thousands

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