Matthew Mellon was descended from the famous banking family. He died last month at the age of 54 after ingesting the hallucinogenic ayahuasca before starting rehab. At one time he had a $100K/month oxycontin habit.
When Mellon turned 21, he received a $25 million allowance from a family trust, one of 14 trusts established for him. He recently became a billionaire by investing in cryptocurrency. TMZ is reporting that his estate is now petitioning the probate court to authorize the sale of the cryptocurrency.
So many intersecting points in current events:
1. Someone should never give their child $25 million at the age of 21. Trusts can be created to defer an inheritance for as long as necessary.
2. In probate, assets can usually not be sold or transferred until the entire list of assets has been compiled which an take many months. With the decline in value of crytopcurrency, the estate wants to sell it before people realize its true value is likely zero.
3. Mellon might be the wealthiest victim of our tragic opioid crisis.
4. Following the lynching last month of a Canadian who moved to a Peruvian jungle to seek clarity through ayahuasca but somehow killed a shaman, Mellon is the second person whose newsworthy death can be attributed to it.
5. Ayahuasca is described as a sludgelike hallucinogenic potion used by indigenous shamans in spiritual exercises. I will take my drink inspired spiritual experiences through a nice fruit forward cabernet.
When Mellon turned 21, he received a $25 million allowance from a family trust, one of 14 trusts established for him. He recently became a billionaire by investing in cryptocurrency. TMZ is reporting that his estate is now petitioning the probate court to authorize the sale of the cryptocurrency.
So many intersecting points in current events:
1. Someone should never give their child $25 million at the age of 21. Trusts can be created to defer an inheritance for as long as necessary.
2. In probate, assets can usually not be sold or transferred until the entire list of assets has been compiled which an take many months. With the decline in value of crytopcurrency, the estate wants to sell it before people realize its true value is likely zero.
3. Mellon might be the wealthiest victim of our tragic opioid crisis.
4. Following the lynching last month of a Canadian who moved to a Peruvian jungle to seek clarity through ayahuasca but somehow killed a shaman, Mellon is the second person whose newsworthy death can be attributed to it.
5. Ayahuasca is described as a sludgelike hallucinogenic potion used by indigenous shamans in spiritual exercises. I will take my drink inspired spiritual experiences through a nice fruit forward cabernet.
Photo Credit: Forbes/Ethan Pines
License: Fair Use/Education (article linked)
