Over at Shoemoney.com he just made a post that Kelly Felix (the Rich Jerk) is selling the Rich Jerk operation in order to avoid bankruptcy.

Then about 20 minutes ago a friend who I trust in the business who is pretty close to Kelly Felix says he is just about bankrupt and hoping to climb out of the hole and even make some profit. The source also says that Kelly blew a ton of investors money buying advertising on Howard Stern and fake commercials/tv spots to make it look like he was rich.

The business is listed for sale at BizQuest.com. IT has a listed selling price of $8 Million. No real details are listed as to why that the business is being sold other than:

Multiple owners looking to work on various other projects, separately.

To me this is so funny considering the idea of The Rich Jerk is to teach you how to make money online and gain your freedom. Now that same company may be going under. I will do a follow-up if I find out more.