Matthew Mellon, the billionaire banking heir, died suddenly at a rehab facility in Cancun, Mexico. Time
Billionaire banking heir Matthew Mellon has died, reportedly at a Mexican rehab facility. He was 54.
According to The Associated Press, his cousin Peter Stephaich confirmed Mellon's death but declined Tuesday to provide any details.
Meanwhile, the New York Post quoted a family representative as saying that Mellon “died suddenly in Cancun, Mexico, where he was attending a drug rehabilitation facility. … He is survived by his three children, Force, Olympia and Minty. The family asks that their privacy be respected at this very painful time.”
Mellon was a scion of the Mellon and Drexel banking families.
According to Mellon's LinkedIn account, he attended the Wharton Business School at the University of Pennsylvania and later worked in fashion, telecommunications and finance, most recently as an adviser for the digital currency company Ripple Labs.
Mellon also served for a time as the chairman of the finance committee of the Republican Party in New York. According to the family statement, Mellon made his fortune in cryptocurrency, turning a $2 million investment into $1 billion.
“It’s $1 billion virtually for free,” he told Forbes magazine in its February 2018 issue. “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 also is survived by his first wife, fashion designer Tamara Mellon, and his second wife, fashion designer Nicole Hanley, with whom he split in 2015.
According to the AP, Tamara Mellon, the co-founder of Jimmy Choo shoes, told a London jury in 2007 that she and her husband had met at a meeting of Narcotics Anonymous when both were recovering from addiction.
The two married in 1999 at Blenheim Palace, one of England's grandest homes, with friends Elizabeth Hurley and actor Hugh Grant among the guests. They divorced several years later.
In 2016, Mellon told the Post about his addiction, saying, “OxyContin is like legal heroin. And it needs to be addressed,” while at a Malibu, Calif., treatment center.
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