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Billion Dollar Whale by Tom Wright and Bradley Hope

Billion Dollar Whale by Tom Wright and Bradley Hope

It is a story of a man who got so infected by wealth and status symbols that he went to extreme extent to steal money from the Malaysian Development Fund and through a myriad of layered transactions brought this money into the US to buy him fame and status symbols.

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A true example when having a lot is not enough. Jho Low, a son to Larry Low a local businessman in Malaysia, was sent to a boarding school in UK as a kid. Larry Low at the time had successful business that he has sold and received a paycheck in the range of $50m, which by any standards would be considered rich. However in the boarding school Jho Low rubbed shoulders with kids of prime ministers and Arab sheikhs whose riches were counted not in mere millions but in billions.

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Already since his childhood he has learned to deceive people and always ask for more. During his time in London he became friends with Riza Aziz the stepson of former Malaysian prime minister Rajib Nazak. After he went to study at Wharton business school where he continued to make friends with Malaysians and Saudis as well as Kuwatis and people from Jordan. He used to throw parties which he was barely able to afford. Each of them amounting to $50'000 and more. This of course helped him make friends among the very elite of United States and the middle east.

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He managed to get into the inner circle of the Saudi Royal family by helping them broker the deals with Malaysia. He also made a lot of deals in United states such as the acquisition of New York's Park Lane Hotel. The buyout of EMI's music publishing business and an unsuccessful $2.2bn bid to buy out Reebok from Adidas.

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After Najib Razak became prime minister of Malaysia in 2009 Jho has convinced him to establish a sovereign fund (1MDB), which would borrow money from the market at cheap rates and would invest in infrastructure projects. Goldman Sachs helped 1MDB borrow more than $10bn over the course of 7 years. Jho Low through various schemes has allegedly siphoned away up to $4.6bn for his private expenses. 

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