Billionaire banking heir, Matthew Mellon, has sadly died at the age of 53. Here’s everything to know about the late entrepreneur.
Matthew Mellon is dead, a family representative confirms to Page Six. “Billionaire Matthew Mellon, 53, died suddenly in Cancun, Mexico, where he was attending a drug rehabilitation facility,” the rep said in a statement. “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.”
UPDATE: Although initial reports stated that Matthew died at the rehab center, the treatment center cleared things up on April 18 with the following statement: “Matthew Mellon arrived in Cancun Mexico with his private entourage on Sunday, April 15, 2018. He arrived by private plane and checked into his hotel in Cancun, Mexico. Mr. Mellon was scheduled to check-in at Clear Sky Recovery on Monday, April 16, 2017. We received word that he had died at his hotel on the morning of April 16th, prior to his scheduled check-in. We have no further comment regarding this unfortunate situation.”
Here are some facts about Matthew:
1. He’s been married twice. Matthew’s first wife was Tamara Mellon, who co-founded and served as Chief Creative Officer of Jimmy Choo until it was acquired by Lableux in 2011. The two met in Alcoholics Anonymous and were married from 2000 until 2005. They have one daughter, Araminta, together. He later married fashion designer, Nicole Hanley, after getting engaged in 2010. They had two kids together — a son named Force and a daughter named Melon. However, they divorced in 2015.
2. He’s long struggled with drugs. This was not Matthew’s first time in rehab. In 2016, he confirmed to Page Six that he was spending time in a Malibu treatment center to deal with his addiction to OxyContin. At the time, he said he was taking about 80 pills a day and spending $100,000 a month on the drugs.
3. He was born into money. On his paternal side, Matthew is a descendant of Judge Thomas Mellon, who founded Mellon Bank. On his maternal side, he descends from Anthony Joseph Drexel, who founded Drexel-Burnham-Lambert, an investment banking firm.
4. He made his billions thanks to Ripple. Matthew spent $2 million on coins from the cryptocurrency Ripple (XRP) and managed to turn it into a $1 billion fortune. “It’s $1 billion virtually for free,” he told Forbes earlier this year.”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.”
5. He’s been involved in politics. Matthew served as the Chairman of the New York Republican Party’s Finance Committee and was State Chairman, Ed Cox’s, Finance Chairman in 2011.