Ricky Hirsch: Lamborghini-driving playboy’s firm FTD Construction goes under months after it was struck off the register
A Lamborghini-run, global playboy construction company has gone under months after it was deregistered.
FTD Construction, which also stands for Fulfill The Dream, was placed into liquidation on Monday.
Its sole director and chief executive, Perth-based Ricky Hirsch, 37, likes to post images on social media of himself jetting overseas to luxury resorts or sitting in one of his Lamborghinis.
GTS Advisory Director Mathieu Tribut was appointed liquidator.
FTD Construction describes its tycoon founder, Mr Hirsch, as a financial genius who started a company at the age of 24 when others were still panicking about the global financial crisis.
Mr Hirsch boasts how he has ‘expanded his business from Australia to Dubai, Singapore, China and Indonesia’ and has set his sights on New York and Miami.
Fulfill The Dream’s assets are being sold four months after Western Australia’s Building Services Board refused to renew its registration, citing financial management issues.
A Lamborghini-driving playboy’s construction company went under months after it was deregistered (he’s pictured right with his wife Lilya)
“The board was not satisfied that the company met the financial requirements for registration or that it had arrangements in place to ensure the competent management and supervision of the building services carried out by the company,” it said.
The Building Services Board advised affected customers to apply for home indemnity insurance.
FTD Construction still has a website with the tagline: ‘Partner with FTD and share in developer profits.’
Its website lists $448 million in “pipeline projects” for 2023 and 2024 and more than 50 joint ventures.
Mr Hirsch, who founded the company when he was 24, has been touted as someone with an entrepreneurial spirit from a young age.
Seemingly born with a deep drive for success and a sound corporate mind, Ricky Hirsch has been following his inner entrepreneurial spirit since he was just 17 years old,’ his company website said.
“At the ripe old age of 17, Hirsch discovered an untapped niche in the market, using unique techniques that incredibly multiplied his investment tenfold.”
His website also boasted about how he countered panics in the property market during the Global Financial Crisis.
“Back in 2008, when most people were still recovering from the Global Financial Crisis (GFC), Hirsch countered,” his website said.
‘He capitalized on a new model that would later reshape the local developer strategy in his city.
‘He introduced unique triplex development models, which allowed him to make twice the profit while using only a quarter of the working capital—it was a game changer.’
FTD Construction cites an interview he gave to US Forbes New York magazine in August 2023, just weeks before the Western Australian government refused to renew his building registration.
‘I saw an opportunity and had a vision. I took over the property with a plan in place to change the game in the group living space,’ he said.
Its Perth-based sole director and chief executive, Ricky Hirsch, loves to post social media images of himself overseas or a Lamborghini (he’s pictured with a Lamborghini Aventador).
Mr Hirsch boasts how he has ‘expanded his business from Australia to Dubai, Singapore, China and Indonesia’ and has set his sights on New York and Miami (he is pictured at a luxury resort in Bali)
Mr. Hirsch has a penchant for posting his wealth on social media, with his Facebook page featuring a 2013 video of him driving a black Lamborghini Gallardo.
His social media page also features one of him sitting in a Lamborghini Aventador with a winged door open.
New models of this car sell for over $800,000.
Just four days ago, US-based Rubicon PR Group ran a Facebook ad touting FTD Construction as the future of modular construction, highlighting a sponsored op-ed he wrote for the Inc Australia website just two weeks ago.
“Fulfil the Dream is a pioneering company in the field of modular construction, committed to redefining urban development through innovative and sustainable building practices,” it said.
“Under Hirsch’s leadership, Fulfill The Dream not only implements modular construction as a response to current challenges, but envisions it as the future of urban development.
The company’s assets are being sold four months after Western Australia’s Building Services Board refused to renew its registration, citing financial management issues
‘The company sees modular building as a versatile solution that can adapt to various architectural styles and community needs, offering a more sustainable and efficient approach to urban growth.’
The Australian Securities and Investments Commission announced on Monday that an annual general meeting had decided to liquidate the company and appoint a liquidator.
USA Online Post Australia has contacted FTD Construction and GTS Advisory for comment.