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

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. Two Pulitzer-finalist Wall Street Journal reporters document the true story of how a young social climber orchestrated one of history's biggest financial heists, exposing the secret nexus of elite wealth, banking, Hollywood and politics. 75,000 first printing. "What does it take to steal $5 billion? In 2009, with the dust yet to settle on the financial crisis, a mild-mannered Wharton grad 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. His name is Jho Low, a man whose behavior was so preposterous he might seem made up. If Jho Low appeared shy on the surface, behind the scenes he was a big-talking, social-climbing huckster. Barely out of college, Low persuaded the prime minister of Malaysia, Najib Razak, to create an investment fund, known as 1MDB. Directing it from the shadows, Low raised more than $10 billion with the aid of Goldman Sachs and others, and over the next half decade siphoned off billions--money used to finance elections; to purchase luxury real estate; to produce Hollywood films, including The Wolf of Wall Street; and to throw champagne-drenched parties around the world. Low's largesse put him at the center of a world that included celebrities like Leonardo DiCaprio and Jamie Foxx, supermodels like Miranda Kerr, and even a major donor to President Obama. More staggering still, no one seemed to notice--not the global banks, who seemingly turned a blind eye to shady transfers of hundreds of millions of dollars, nor the official financial-system watchdogs. Tom Wright and Bradley Hope, award-winning Wall Street Journal reporters, have broken dozens of stories about the 1MDB affair. Now, for the first time, they reveal the complete inside story of one of the biggest financial heists in history. Billion Dollar Whale will join the ranks of Liar's Poker and Den of Thieves as a classic, harrowing parable of the financial world, hubris, and greed."--Jacket. In 2009 a mild-mannered Wharton grad set in motion a fraud of unprecedented gall and magnitude. His name is Jho Low, and his behavior was so preposterous he might seem made up. Low persuaded the prime minister of Malaysia, Najib Razak, to create an investment fund, known as 1MDB. Directing it from the shadows, Low raised more than $10 billion while siphoning off billions to finance elections; to purchase luxury real estate; to produce Hollywood films; throwing parties around the world. And no one seemed to notice the shady transfers of hundreds of millions of dollars. -- adapted from jacket. The definitive inside account of the "extraordinary" (Financial Times) 1MDB scandal, "a true life thriller" (Ben Mezrich) about a "modern Gatsby" who managed to swindle over $5 billion with the aid of Goldman Sachs and others'a "must read" (Booklist) "epic tale" (Publishers Weekly) that exposes the secret nexus of elite wealth, banking, Hollywood, and politics from two award-winning Wall Street Journal reporters. In 2009, with the dust yet to settle on the financial crisis, a baby-faced, seemingly mild-mannered Wharton grad began setting in motion a fraud of unprecedented gall and magnitude'one that would come to symbolize the next great threat to the global financial system. His name is Jho Low, a man whose behavior was so preposterous he might seem made up. An epic true-tale of hubris and greed, Billion Dollar Whale reveals how this young social climber pulled off one of the biggest heists in history'right under the nose of the global financial industry. Federal agents who helped unravel Bernie Madoff's Ponzi scheme say the 1MDB affair will become the textbook case of financial fraud in the modern age'and its fallout is already being credited for taking down the prime minister of Malaysia. With his yacht and private jet reportedly seized by authorities and facing money-laundering charges in Malaysia, an Interpol red notice, and an ongoing U.S. Department of Justice Investigation, Low has become an international fugitive. For readers of Liar's Poker, Den of Thieves, and Bad Blood, Billion Dollar Whale will become a classic, harrowing parable about finance run amok Part I. The invention of Jho Low Fake photos Asian great Gatsby Win tons of money We're going to need a bigger van A nice toy Doctor Leissner, I presume Saudi "royalty" (the first heist) Hitting a goldmine "I feel the earth move" Part II. Overnight billionaire An evening with the playmates Raining Cristal How to spend a billion Where's our money? Roll the presses Welcome to New York Shitty, junk products My good friend, Leo Two-million-euro bottle parade "Keep your nonsense to yourself" Belfort smells a scam Bitter severance Penthouse with a view Switzerland of the East Brazen sky Goldman and the sheikh (the second heist) Bilking the state Part III. Empire Making Busta his bitch All the wealth in the world Mystique of the orient "681 American pies" (the third heist) Art no one can see Jewelers and bankers Bona fide business 140 gigabytes Leo's Wall Street indictment The Oval Office Size matters Losing control Part IV. Bonfire of secrets "No cash. No deal." Generous Jho Sacks of money The exposé Buttocks in a g-string Strongman Najib Part V. The captain's resolve Prosecutor in an oil drum Special Agent Bill McMurry Partying on the run China connection Glass half full White-collar crime King Khadem falls Epilogue.. "In 2009, with the dust yet to settle on the financial crisis, a baby-faced, seemingly mild-mannered Wharton grad began setting in motion a fraud of unprecedented gall and magnitude--one that would come to symbolize the next great threat to the global financial system. His name is Jho Low, a man whose behavior was so preposterous he might seem made up. An epic true-tale of hubris and greed, Billion Dollar Whale reveals how this young social climber pulled off one of the biggest heists in history--right under the nose of the global financial industry. Federal agents who helped unravel Bernie Madoff's Ponzi scheme say the 1MDB affair will become the textbook case of financial fraud in the modern age--and its fallout is already being credited for taking down the prime minister of Malaysia. With his yacht and private jet reportedly seized by authorities and facing money-laundering charges in Malaysia, an Interpol red notice, and an ongoing U.S. Department of Justice Investigation, Low has become an international fugitive." -- Amazon.com An epic true-tale of hubris and greed from two Pulitzer-finalist Wall Street Journal reporters, Billion Dollar Whale reveals how a young social climber pulled off one of the biggest financial heists in history--right under the nose of the global financial industry--exposing the shocking secret nexus of elite wealth, banking, Hollywood, and politics. The dust had yet to settle on the global financial crisis in 2009 when an unlikely Wharton grad was setting in motion a fraud of unprecedented gall and magnitude--one that would come to symbolize the next great threat to the global financial system. Billion Dollar Whale will become a classic, harrowing parable about the financial world in the twenty-first century.