Billion dollar whale
by Wright, Tom (Wall Street Journal reporter), Bradley Hope, Tom Wright, Wright, Tom, Hope, Bradley · first published 2018
82% recommend18% neutral
Why HN recommends it
Gripping account of the 1MDB scandal and Jho Low's spending spree, showing how easily money moved through shell companies and complicit institutions; suits readers of financial-fraud true crime.
Summarised by Claude from recommending comments
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
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Directly related book recommendation: Billion Dollar Whale by Tom Wright and Bradley Hope, published 2018. They book follows the founders of 1MDB, the quasi Malaysia soverign wealth fund wbhose investments included the founding of Red Granite the producers of…
on “‘The Wolf of Wall Street’ film was also a real-life scam” ↗For an entertaining read on this whole ordeal, read the Billion Dollar Whale. I just finished it, it's quite a good read but eye opening the amount of corruption around the world. https://www.amazon.com/Billion-Dollar-Whale-Fooled-Hollywood...
on “Malaysia files charges against 17 current and ex-Goldman Sachs bosses” ↗released this year and great reads: * Bad Blood - mentioned tons of times * Billion Dollar Whale - story of the 1MDB scandal * Black Edge - chronicles insider trading on wall street * The Billionaire Raj - about India's income inequality and ruling oligarchy
on “Ask HN: Favorite nonfiction books of 2018?” ↗I recently read Billion Dollar Whale (https://www.amazon.com/Billion-Dollar-Whale-Fooled-Hollywood...) which I enjoyed. It seemed to me to be surprisingly easy to launder money through shell companies like the ones listed here. I would speculate…
on “Some Hong Kong companies change their name every couple of months” ↗For anyone interested in how (dirty) big money moves around the world in our current financial and legal framework, the “Billion Dollar Whale” book provides a very interesting insight. A fascinating read of fraud at the highest level. https://www.goodreads.com/book/show/38743564-billion-dollar-...
on “Widening Russia Money Laundering Scandal Hits European Banks” ↗I'll recommend this as well. Another great book in the "company exploding in a case of massive fraud" genre is Billion Dollar Whale by Tom Wright and Bradley Hope, which goes into the 1MDB scandal.
on “Ask HN: Read any good books lately?” ↗I strongly recommend Billion Dollar Whale [1]. The relative ease with which Jho Low could get away with this, and the number of people/institutions willing to be complicit (by action or omission) was breathtaking. [1] - https://www.goodreads.com/book/show/38743564-billion-dollar-...
on “The Malaysian Job: How Wall Street enabled a global financial scandal” ↗If you're interested in the background of this, Billion Dollar Whale by Tom Wright and Bradley Hope would be a good intro. An unbelievable amount of corruption on the part of the former Prime Minister and his family, and enabled by Jho Low and Goldman Sachs.
on “Goldman Sachs Reaches $3.9B Settlement with Malaysia over 1MDB Corruption Case” ↗I think that the mention of the billions from Malaysia relates to the story covered in the "Billion Dollar Whale". I really recommend that book. Many celebrities ended up involved, and it's a story that wouldn't be believed if it were fiction. At the center of the tale is Jho Low, the wild-spending financier…
on “Fugees Founder Pras Michél Speaks Out: 'I Never Wanted to Be a Spy'” ↗* Billion Dollar Whale
on “Ask HN: Favorite nonfiction books of 2018?” ↗…https://www.goodreads.com/book/show/31920777-american-kingpi... - Bad Blood: Secrets and Lies in a Silicon Valley Startup by Carreyrou, John, https://www.goodreads.com/book/show/37976541-bad-blood - Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World by Wright, Tom, https://www.goodreads.com/book/show/38743564-billion-dollar-... - The Mastermind: Drugs. Empire. Murder. Betrayal. by Ratliff,…
on “Ask HN: Best books you've read in 2019?” ↗…https://www.goodreads.com/book/show/31920777-american-kingpi.... - Bad Blood: Secrets and Lies in a Silicon Valley Startup by Carreyrou, John, https://www.goodreads.com/book/show/37976541-bad-blood - Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World by Wright, Tom, https://www.goodreads.com/book/show/38743564-billion-dollar-.... - The Mastermind: Drugs. Empire. Murder. Betrayal. by Ratliff,…
on “Ask HN: Favorite Nonfiction Books of 2019?” ↗Strongly recommend Billion Dollar Whale on the 1MDB ... Amazing and extremely entertaining book. They literally stole 16 billion usd.
on “Goldman Legal Woes Mount as Malaysia Slaps First Criminal Charge” ↗A good modern day story of how not to hide $4 billion is Jho Low: https://en.m.wikipedia.org/wiki/Jho_Low The book that chronicles (Billion Dollar Whale) is a real page turner, with lots of it being unbelievable. Seen The Wolf Of Wall Street? He funded its production with his stolen $... :)
on “How to Hide a Billion Dollars” ↗I also just read the book you linked (Billion Dollar Whale) about the 1MDB scandal. Highly recommended!
on “Goldman Sachs Ensnarled in Vast 1MDB Fraud Scandal” ↗