Money & Power

Billionaire Banking Heir Matthew Mellon Dies at 54

The cryptocurrency mogul died suddenly in Cancun, Mexico, where he was attending a drug rehabilitation facility.

Billionaire banking heir Matthew Mellon has died. He was 54. His cousin Peter Stephaich confirmed Mellon's death to the Associated Press but declined to provide any details on Tuesday. He had struggled with drug addiction, and a representative said in a statement reported by the New York Postthat Mellon "died suddenly in Cancun, Mexico, where he was attending a drug rehabilitation facility."

Mellon comes from the Mellon and Drexel families of Bank of New York Mellon and Drexel Burnham Lambert.

According to Mellon's LinkedIn account and documents of the Securities and Exchange Commission, he attended the Wharton School at the University of Pennsylvania and later worked in fashion, telecommunications, and finance, most recently as global ambassador 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.

Mellon is survived by his first wife, fashion designer Tamara, his second wife, fashion designer Nicole Hanley, and three children.

Matthew Mellon and Nicole Hanley in 2010

He and Tamara Mellon married in 1999 at Blenheim Palace in England, with friends Elizabeth Hurley and actor Hugh Grant among the guests. They divorced several years later. He and Hanley married in 2010, at Diane von Furstenberg's house on Harbour Island in the Bahamas, and divorced in 2015.

Testifying at a trial where Mellon was acquitted of hiring a private detective to investigate into Tamara Mellon's finances, the co-founder of Jimmy Choo shoes said she and her husband had met at a meeting of Narcotics Anonymous when both were recovering from addiction.

Matthew Mellon previously battled an OxyContin habit and told the New York Postin 2016 that he was "spending $100,000 a month and taking about 80 pills a day" when he checked himself into the addiction treatment center Passages Malibu.

With reporting from the Associated Press.

*This story originally appeared on

*Minor edits have been made by the editors

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