Billion Dollar Whale

The Man Who Fooled Wall Street, Hollywood, and the World

Tom Wright, Bradley Hope

18 min read
1m 15s intro

Brief summary

Billion Dollar Whale documents how Malaysian dealmaker Jho Low orchestrated one of the largest financial frauds in history. By mastering the art of appearances, he turned a state development fund into a personal machine for theft, laundering, and influence.

Who it's for

This book is for anyone interested in the mechanics of modern financial crime, political corruption, and the power of social engineering.

Billion Dollar Whale

Audio & text in the Readsome app

The People and the World Around Jho Low

At the center stands Jho Low, a Malaysian dealmaker who built his power not through creating businesses, but through managing appearances. He understood early that many wealthy and influential people respond to confidence, access, and glamour before they ask hard questions. That instinct allowed him to move among politicians, royals, bankers, celebrities, and socialites while hiding that much of his money was stolen.

Around him was a large cast that made the fraud possible. Malaysia’s prime minister, Najib Razak, and his wife, Rosmah Mansor, gave Low political protection and access to state money. Najib’s stepson, Riza Aziz, became Low’s bridge into Hollywood. Low also relied on loyal aides such as Jasmine Loo, Casey Tang, and Eric Tan, along with family members who understood offshore finance and helped him mask where money came from.

The scheme also needed foreign partners. In the Gulf, Low cultivated men close to power in Abu Dhabi and Saudi Arabia, including Yousef Al Otaiba and Khadem Al Qubaisi. In banking, his most important ally became Tim Leissner of Goldman Sachs, a star banker willing to push profitable deals past obvious warning signs. Private bankers in Switzerland and Singapore helped move funds through shell companies and secret accounts.

This network stretched across several worlds that usually seem separate: sovereign wealth funds, elite law firms, private banks, luxury real estate, nightclubs, and movie studios. Low moved between them easily because each one offered something the others needed. Politicians needed cash, bankers wanted fees, celebrities liked rich backers, and wealth managers profited from handling enormous accounts. That mix created ideal conditions for a huge fraud to keep growing.

The story reaches its peak in scenes of absurd luxury, especially Low’s giant birthday party in Las Vegas in 2012. It looked like the celebration of a young billionaire at the height of his powers, with stars, secrecy agreements, rare champagne, and custom-built spectacle. In truth, it was the public face of a hidden operation that had drained billions from a Malaysian state fund created for national development.

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About the author

Tom Wright

Tom Wright is a Pulitzer Prize-finalist and investigative journalist known for his work on financial fraud and corruption. As a former Asia Economics Editor for The Wall Street Journal, he reported on major stories including the 1MDB scandal, which became the subject of his co-authored book "Billion Dollar Whale". Wright has since co-founded Project Brazen, a media studio dedicated to uncovering and developing true stories for various platforms.

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