Mathew Mellon was a prominent American businessman, who died at the age of 54. He was an entrepreneur who spent decades working in fashion and earned a fortune in cryptocurrency.
Mathew Mellon was born in New York to Karl Negley Mellon and Anne Stokes Bright. His father abandoned the family when Mathew was just five years old, and in 1983 he committed suicide. Mathew had bipolar disorder and so did his father.
Mathew went to The Phelps School which was a boy’s boarding school in Pennsylvania. He graduated from the University of Pennsylvania’s Wharton School where he studied management.
Mathew Mellon was a chairman of the New York Republican State Committee’s finance committee but he felt that people did not take him seriously.
Mathew met his first wife, Tamara Mellon who co-founded Jimmy Choo, shoe brand at an Alcoholics Anonymous meeting in 1998. They had a daughter, Minty, but they had a divorce after 6 years. Mellon married Nicole Hanley clothing designer in 2010 and had two children, a son, Force and a daughter Olympia.
- Mathew was involved with the National Gallery of Art.
- Executive Founder of Harrys of London in 2002, he sold 40 percent stake to Atelier Fund for $3.5 million a few years later.
- In May 2011 he was named Finance Chairman by State Chairman Ed Cox.
- He was an adviser for the digital currency company Ripple Labs.
- He launched the Hanley-Mellon clothing line with his second wife.
Mathew Mellon had a serious addiction problem. He was addicted to opioids. In 2016 The New York Post reported that Mathew was taking 80 pills of OxyContin,(the best selling opioid in the world) a day.
7.Effort to overcome addiction
To overcome addiction to the prescription opioid OxyContin, in 2016 Mathew went for treatment in a treatment center in Malibu, California, it is said that the treatment costed him $100,000 a month. He was even quoted once “OxyContin is like legal heroin. And it needs to be addressed.”
8.Heir to two weatlthy banking families
From his father’s side Mathew Mellon is a direct descendant of Judge Thomas Mellon, founder of The Mellon Bank which eventually became the Bank of New York Mellon Corporation.
In addition to his paternal lineage, Mellon was a direct descendant of Anthony Joseph Drexel a banker, whose investing firm preceded Drexel Burnham Lambert.
Mathew Mellon’s XRP was worth around $1 billion at the time of his death.
10.Paranoid about security
As his cryptocurrency fortune grew so did his fear for his security. Mellon got an armored car that resembled a tank. Any visitor to Matthew Mellon’s above Los Angeles’s famous Sunset Strip was exposed to his unconventional behavior. As they entered through the 30ft white marble and stainless steel front doors, an aide would hand them a special plastic sticker to put over the camera lens of their phone, so ‘terrified’ was Mellon of intrusion.
Gun-toting bodyguards patrolled the rented property, which had CCTV cameras on every ceiling and corner. “He always thought someone was out to steal his millions. He trusted no one.”
11.Made billions thanks to Ripple
XRP is the digital currency of the company Ripple and Mathew acquired a large amount of it, from an initial investment of about $2 million, prior to the boom in cryptocurrencies.
Mathew’s XRP was worth over $ 1 billion in early 2018 and Mathew said that he had been adding to the position as the price of the cryptocurrency plunged.
12.New lease on life
Mathew wanted to make the best of life and so he began the year in Los Angeles with great promise and lots of activity. He searched online for the most expensive rental house in Los Angeles and booked a home in Hollywood Hills for $150,000 a month.
13.Irony of his death
Mathew Mellon died on April 2018 in Cancun, Mexico where he had gone to check into the Clear Sky Recovery clinic, a rehab facility which specializes in ibogaine therapy. He wanted to quit his drug habit, which included crack cocaine, smoking heroin and taking up to 80 prescription opioid painkillers daily. The irony here is that he had gone there to rid himself of drugs but he died because of it. He was reported to have died in a hotel room in Cancun before arrival at the clinic, after suffering a fatal heart attack because of taking ayahuasca, a hallucinogenic drink.
Mathew set about to enjoy his wealth and rented one of the most expensive homes in Los Angeles. He had a full-sized Buddha statue and a large artwork in the master bedroom which read “Golddigger”. He even bought three Ferraris in one go. Shortly before his death, he planned to to rent a Malibu beach home for the summer and had laid out $ I million for it. He was having a new private jet made, and he planned to rent a mega-yacht for the Monaco Grand Prix.
15.Unanswered question after his death
There were many questions after his death as to what will happen to his estimated $500 million of XRP digital currency that he owned.
But the main question was where this XRP was as Mathew had said that he kept the digital keys to his XRP locked in cold storage in other people’s names at various locations around the U.S. and only he could identify. The only problem is that now he is dead, who can tell whether any of it is missing?
Movie on Mathew life?
Actor Johnny Depp is considering playing Mathew Mellon in a film about his life. But the New York Post said
that Mellon’s family is divided over the project, which is in early stages.
One source told the Post that if the film was made it could fulfill a dream of Matthew’s: “He would have loved this idea … He used to say, ‘How cool would it be to have a movie about my crazy life?’