Matthew Mellon, a famous banking heir who was also known for becoming a billionaire through crypto investments, has passed away while at a drug rehab facility in Mexico. The 54 year old was fighting a long battle with an OxyContin addiction, which he received a prescription for after a surfing injury years ago.
Mellon’s father was the founder of Mellon Bank, while his mother’s side was related to the Anthony Joseph Drexel, founder of Drexel Burnham Lambert Bank. When Mellon was 21 he inherited several million dollar trust funds from his family. Matthew began working in the banking industry and was the chairman of the New York Republican Party’s finance commitee. He was also the ex-huband of Tamara Mellon, the co-founder of Jimmy Choo.
In his most recent years Mellon was known for turning a $2 million investment into $1 billion, primarily investing in Ripple. In an interview with Forbes earlier in the year after Ripple hit its peak of over $3.00 USD, Mellon was quoted:
“Crypto is scary and dark. It’s anti-America, I am pro-America, pro-business and pro-bank. That’s why I went with Ripple. 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.”
It is unclear what the cause of death was for Mellon but he has mentioned in prior interviews that at his addiction’s worst, he was spending over $100k a month and taking close to 80 OxyContin pills a day. Mellon is survived by 4 children and is asked for privacy by family members during this time.