Billionaire Matthew Mellon dies age 53
Billionaire banking heir and cryptocurrency investor Matthew Mellon has been found dead in Mexico.
Mellon, who capitalized on his hefty inheritance with cryptocurrency investments, has died at the age of 53.
The family confirmed his death in a statement to the New York Post.
According to his family, Mr. Mellon died in Cancun, Mexico, where he was attending a drug rehab clinic.
Speaking to the Associated Press, Mellon’s cousin Peter Stephaich gave confirmation of his death but didn’t provide details.
A family spokesperson told the NYPost that he died as a result of drug-related complication while attending the rehabilitation center.
Before his passing, Mellon was previously open regarding his battle with addiction to the painkiller opiate Oxycontin.
Following a modest inheritance, Mellon turned his millions into billions by becoming an early investor in Ripple.
The statement confirming his death in Page Six says:
“Billionaire Matthew Mellon, 53, died suddenly in Cancun, Mexico, where he was attending a drug rehabilitation facility.
“Mellon made his fortune in cryptocurrency, turning a $2 million investment into $1 billion.
“He is survived by his three children, Force, Olympia, and Minty.
“The family asks that their privacy be respected at this very painful time.”
In the February issue of Forbes magazine, the publication ran a feature on billionaire Mellon.
He discussed his cryptocurrency investments in the interview, saying:
“It’s $1 billion virtually for free.
“I actually have earned it because I was the only person who was willing to raise his hand.
“My family thought I was insane when I knew it was a home run.”
Mellon was a descendant of two of the most famous banking dynasties in America: the Mellons, of Carnegie Mellon University fame and the Bank of New York Mellon, and the Drexel family, who founded Drexel University and Drexel Burnham Lambert.
He was also the ex-husband of the fashion house Jimmy Choo co-founder, Tamara Mellon.