Social media influencer Luke Belmar, known for his ‘alpha male’ mindset content and advice on building wealth, is facing serious legal trouble. His former business partner, Steve Tan, has filed a federal lawsuit alleging fraud, breach of contract, and the misappropriation of millions of dollars from their shared venture, Capital Club.
According to sources and court filings, Tan claims he was the financial backbone behind Capital Club, an online entrepreneurship community that Belmar promoted as the face of the brand. The two allegedly agreed to a 50/50 partnership in 2018, with Tan handling operations and funding while Belmar focused on marketing and content creation.
Tan says he invested over $4 million of his own money into the company, covering payroll, advertising, infrastructure, and technology costs to keep the business running.
The investment appeared to pay off initially. Capital Club reportedly generated $4.2 million in revenue within its first three months, demonstrating the profitability of information products and paid online communities. However, Tan alleges that behind the scenes, cracks were forming in their partnership and in the narrative Belmar presented to his online audience.
The lawsuit takes a darker turn with allegations that Belmar and his wife quietly launched a competing venture called Gem Hunters while Capital Club was still operating. According to the complaint, this rival company was run by the same team and resources, generating approximately $10 million in revenue. Tan estimates that Belmar personally profited more than $15 million during this period—all while Tan claims he remained a 50/50 partner entitled to half of those earnings.
Tan also alleges that when he attempted to exit the partnership in 2024, Belmar offered a buyout but requested backend access to the business first. After Tan transferred credentials in good faith, he claims his administrative privileges were systematically downgraded and he was eventually locked out of his own email and company systems.
The buyout terms Tan received allegedly included a restrictive non-compete agreement that would have effectively ended his career in the entrepreneurship education space.
In a leaked voice call, Belmar can be heard telling Tan: “I’m Capital Club’s personal brand. We scaled a personal brand… it sounds to me like you’re jealous.” This contradicts Belmar’s public persona, which emphasizes moral values, brotherhood, and loyalty—principles that seem at odds with the allegations against him.
Belmar has responded with a challenge for a public debate, claiming Tan is spreading false allegations and accusing him of trying to “steal” Capital Club. However, legal experts note that public debates don’t replace courtroom proceedings, and if the allegations of concealed transfers and undisclosed profits are proven, Belmar could face significant financial and reputational consequences.