Billionaire banking heir Matthew Mellon dies in rehab, aged 54
Just an fyi- bankers are not averse to crypto- currency : Nor are crypto currencies a challenge to the banking imperiumMatthew Mellon, from the Mellon and Drexel families of Bank of New York Mellon and Drexel Burnham Lambert
Matthew Mellon, a prominent member of the wealthy Mellon and Drexel banking families, and an entrepreneur who spent decades working in fashion and earned a fortune in cryptocurrencies, died on Tuesday, the Associated Press reported.
Cryptocurrency Billionaire- From Bitcoin to Ripple
While Mellon sold off his early investments in Bitcoin before its value skyrocketed in 2017, Mellon seems to have made a fortune in Ripple, or rather XRP, the native currency of Ripple, which was one of the hottest cryptocurrencies toward the end of last year and start of 2018.
Mellon explained to Forbes that he was drawn to XRP because, at the time, it was one of the few cryptocurrencies working within the mainstream banking system. “I am pro-America, pro-business and pro-bank. That’s why I went with Ripple,” he said.
Heir to Two Wealthy Banking Families
On his father’s side, Matthew Mellon is a direct descendant of Thomas Mellon, a judge in Pittsburgh who founded T. Mellon & Sons’ Bank in the post-Civil War era. The name was changed to Mellon Bank, and eventually it became the Bank of New York Mellon Corporation. One of Thomas Mellon’s sons, Andrew Mellon, served as U.S. Treasury Secretary for more than a decade under three Republican presidents and was one of the founding benefactors of the National Gallery of Art in Washington, D.C. (Matthew Mellon himself was active in politics, and served for a spell as the chairman of the Republican Party finance committee in New York.) The Mellon family also helped create and maintains support for Pittsburgh’s Carnegie Mellon University.
Matthew Mellon’s mother’s side of the family can be traced back to Anthony J. Drexel, who founded the company that evolved into Drexel Burnham Lambert, the notorious investment bank that filed for bankruptcy in 1990. Anthony J. Drexel is also known as the financier and philanthropist who in 1891 opened Drexel Institute of Art, Science and Industry, which became Philadelphia’s Drexel University.
Bankers and philanthropy. Elitist psychos and the idea of ' do gooding' philanthropy are oxymoronic- they are a contradiction- Bankers want profit/control as do the persons who undertake philanthropic endeavours. From the Mellon family through to Bill Gates and that philanthropic whore Bono. Profit/control is their motivation