Miami NIL King John Ruiz’s Business Is Tanking

University of Miami booster John Ruiz has been a major funder of the school’s sports in the name, image, and likeness era. Now the source of that money may be drying up.

Ruiz admitted to investors earlier this week that his company is far short of revenue projections.

LifeWallet, an insurance claims company, projected it would make $963 million in net revenue last year. Instead, its total revenue was $7.7 million.