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Billionaire & Descendent of Mellon Family Matthew Mellon has Died at the Age of 54

Billionaire & Descendent of Mellon Family Matthew Mellon has Died at the Age of 54

Billionaire Matthew Taylor Mellon and descendent of founder the now BNY Mellon, has died at the age of 54 in a hotel room in Mexico.  He was due to check in at a rehabilitation centre for drug addiction in Cancun, Mexico.  He had been reported to be addicted to the painkiller, OxyContin.

” Billionaire & Descendent of Mellon Family Matthew Mellon has Died at the Age of 54 “

Matthew Mellon is a descendent of founder of Mellon Financial Corporation (BNY Mellon) and founder of the now defunct investment bank, Drexel Burnham Lambert.  A billionaire, businessman & investor, he had also made a fortune in the digital currency company, Ripple Labs. His investment of $2 million investment is valued at more than $1 billion.  He had also served as the Chairman of the New York Republican Party’s finance committee.

In 2007, BNY Mellon was formed with the merger Mellon Financial Corporation and The Bank of New York, to form one of the largest bank in United States.  Mellon Financial Corporation is founded as T. Mellon & Sons’ Bank in 1869 by Thomas Mellon and his 2 sons, Andrew W. Mellon and Richard B. Mellon.  The Bank of New York is one of United States’ oldest bank, was founded in 1784 by a group that includes American Founding Fathers Aaron Burr and Alexander Hamilton.  Drexel Burnham Lambert was one the largest investment bank in United States until its closure in 1990.

Born in New York City in 1964, Matthew Mellon had graduated Wharton School of the University of Pennsylvania and married his first wife Tamara Mellon, co-founder of Jimmy Choo.  He is survived by his second wife, Nicole Hanley, and 4 children, Force, Olympia, Minty and a daughter from his first marriage.

Source: Bloomberg, BBC, The Guardian

 

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