Title: Billion Dollar Whale
Author: Tom Wright and Bradley Hope
Rating: 5/5 Stars
Link to book: Billion Dollar Whale

This is one hell of investigative journalism. Such brilliant work done by these Wall Street Journal journalists.

This book is a gripping gripping exposé that unravels the jaw-dropping tale of one of the most audacious financial scandals in recent history. The authors delve into the intricate web of deceit and excess surrounding the rise and fall of Jho Low, the Malaysian at the center of the 1MDB scandal. For those who do not know, 1MDB is a state investment fund of Malaysia. All in all, more than $4 billion was swindled from the fund. $4 billion!!! It is the blood and sweat money from poor Malaysian taxpayers who will never get to see the benefit of it. All because of a few powerful elite men’s greed. (Isn’t that always the case?)

Reading this story, you’d think it was fiction. The scandal, the juice, and I mean THE JUICE. They name drop so many celebrities that were benefitting of this madman’s scheme. They talk about extravagant parties. Parties so extravagant, even Jordan Belfort himself (the OG wolf of wall street) attended one party, after he got out of prison. After that, he decided he wanted nothing to do with this. He was sure no man would spend this kind of money if he had earned or it was rightfully his. The infamous new years’ party with one countdown at Sydney and jetting off to California right after to catch another. The glass Steinway Jho Low gifted to Miranda Kerr. (Yes, they were dating… completely changed my impression of her…) Jho Low’s close relationship with Leonardo DiCaprio and the funding of the movie the Wolf of Wall Street.

There is THE JUICE perspective that appealed to the gossip in me but the authors also did a brilliant job breaking down how he did all of it. It was very detailed and complex but they explained it to the exact name of the copious offshore shell corporations he created, what reasons he gave to the bankers, the fees, the interests rates, all the layering and laundering. I was impressed but also appalled at how some of it could go through. Having worked in a bank myself, I can also understand the pressure that some bankers have to close that deal. But after a certain point, most of them are just greedy.

Another key character is also then prime minister of Malaysia, Najib. Boy, he and his wife are quite the characters. Throughout the book, Najib’s actions are portrayed within the broader context of Malaysian politics and society, and we see the systemic corruption and cronyism that plagued the country during his tenure as Prime Minister. The authors also examine the legal and political fallout of the scandal, including Najib’s subsequent arrest and trial on charges of corruption, money laundering, and abuse of power. Honestly, it makes me sick thinking of how they spent all the Malaysian’s hard earned money like that.

Overall, this felt like a thriller. It would make an excellent movie. There is Netflix documentary about it but it does not do the book and journalists any justice. You can skip the movie and just do the book. The audacity, the insanity, and the greed. It serves as a sobering reminder of the dangers of unchecked ambition and the need for greater transparency and accountability in the world of high finance. A must-read for anyone interested in understanding the dark underbelly of global capitalism.