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Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World-Tom Wright,Bradley Hope

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Ebook About
Named a Best Book of 2018 by the Financial Times and Fortune, this "thrilling" (Bill Gates) New York Times bestseller exposes how a "modern Gatsby" swindled over $5 billion with the aid of Goldman Sachs in "the heist of the century" (Axios). Now a #1 international bestseller, Billion Dollar Whale is "an epic tale of white-collar crime on a global scale" (Publishers Weekly), revealing how a young social climber from Malaysia pulled off one of the biggest heists in history. In 2009, a chubby, mild-mannered graduate of the University of Pennsylvania's Wharton School of Business named Jho Low set in motion a fraud of unprecedented gall and magnitude--one that would come to symbolize the next great threat to the global financial system. Over a decade, Low, with the aid of Goldman Sachs and others, siphoned billions of dollars from an investment fund--right under the nose of global financial industry watchdogs. Low used the money to finance elections, purchase luxury real estate, throw champagne-drenched parties, and even to finance Hollywood films like The Wolf of Wall Street. By early 2019, with his yacht and private jet reportedly seized by authorities and facing criminal charges in Malaysia and in the United States, Low had become an international fugitive, even as the U.S. Department of Justice continued its investigation.Billion Dollar Whale has joined the ranks of Liar's Poker, Den of Thieves, and Bad Blood as a classic harrowing parable of hubris and greed in the financial world.

Book Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World Review :



One of the greatest financial scandals in history investigated by journalists from one of the world's leading financial newspapers. Alas, they have chosen to go the tabloid route, which presumably raises a higher probability of a lucrative movie rights sale, rather than serious investigation.First the praise. This is very readable account of an almost incredible financial fraud. The sums of money involved are mind-blowing and for the principal culprit to have achieved this from a starting point of an everyday regular person is inspiring or terrifying according to your viewpoint. Large numbers of celebrities are identified as having essentially demeaned themselves for financial reward. This is the tabloid approach, including micro detail about what champagne they drank, where they drank it, where their jewellery came from etc. etc.Alas, though, the analysis of the financial fraud leaves vast numbers of questions unanswered. Just one example: The Malaysian (as he is frequently referred to throughout the book) regularly deceived the banking community by opening accounts in the names redolent of huge and solid financial institutions. The tabloid reader might be inclined to think "What a cunning rogue!" but the reader seeking quality journalism wants to know how such an obvious trick managed to fool the banks. To put this into more everyday terms, if I opened bank accounts with names redolent of Warren Buffett or Bill Gates, the bank which believed me might well expect huge cashflows to appear, but they would surely realise that this could well be the fraudulent action of a money launderer and would undertake due diligence to ascertain the veracity of the account. Issues such as this are not pursued inside the book.Good luck to the authors in selling the movie rights, but I was hoping for serious investigation.
For a Malaysian like myself who's already very exposed with the details of 1MDB scandal, this book offered more details I never knew. One of the most moving things to me that I didn't know before was how even though the leaders of some govt agencies were working with Najib to cover up his alleged theft, brave and courageous people on the ground in these agencies acted by leaking out the information they had.The saying goes that all is needed for evil to triumph is for good men to do nothing. I always thought this was true in our govt at the time, but this book opened my eyes to them being many good men and women even in the govt who did their part.Thank you Tom and Bradley for the detailed work you put in to write this work. It can't be easy collecting all this information. For that you deserve every star I have to give in this review

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