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Billion Dollar Whale

From Wikipedia, the free encyclopedia
Billion Dollar Whale
First edition
AuthorTom Wright, Bradley Hope
LanguageEnglish
GenreNon-fiction
PublisherHachette Books
Publication date
September 18, 2018
Publication placeUnited States
Media typePrint (Hardcover and Paperback)
Pages400
ISBN978-0-316-43650-2

Billion Dollar Whale (original title: Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World) is a non-fiction book by The Wall Street Journal correspondents Tom Wright and Bradley Hope. Published on September 18, 2018, by Hachette Books, the book focuses on how Malaysian financier Jho Low allegedly masterminded a US$4.5 billion fraud in what is referred to as the 1Malaysia Development Berhad scandal.

The book received positive reviews despite attempts to block it from distribution in multiple countries in a campaign by London-based law firm Schillings.[1]

Overview

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Billion Dollar Whale is a book based on extensive investigative reporting by Wall Street Journal correspondents Tom Wright and Bradley Hope. Their reporting made them finalists for the 2016 Pulitzer Prize.[2]

Billion Dollar Whale chronicles the exploits of Malaysian fugitive businessman Jho Low, wanted by authorities internationally for his connection with the 1Malaysia Development Berhad scandal. It describes how Low manipulated former Malaysian Prime Minister Najib Razak into creating a sovereign wealth fund that raised ten billion dollars, and how half of the raised funds eventually disappeared.[3] The book sheds light on the lax oversight that allowed Low to go siphon out such large amounts of money to finance his lavish lifestyle. It also details his time in the United States and his relationships with Gulf Arab royalty and Hollywood actors, among others.[4]

Low is the “whale” referred to in the book's title. The term refers to a high roller,[5] which is a gambler who consistently wagers large amounts of money.

Reception

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Overall, Billion Dollar Whale was well received. Upon release, the book was quickly sold out in certain Malaysian book chains.[6] In a Financial Times review, the book is described as perfect material for a Hollywood script.[7] It was longlisted for the Financial Times and McKinsey Business Book of the Year Award in 2018.[8][9] Billion Dollar Whale has been listed as a New York Times bestseller.[10][11]

A review by The Star Tribune noted that the details presented in the book "can be a slog but give the book authority".[4]

By November 2021, the book had sold over 500,000 copies internationally, and remained a bestseller in Asia.[12]

Low, while hiding as a fugitive in China to avoid being arrested, released a statement on his website dismissing the events reported on in the book:[13]

[T]his book is written with allegations disguised as fact and gossip passed off as legitimate reporting. The narrative is framed to allow the authors to write about celebrities, and models and parties, without ever proving any of the allegations… Billion Dollar Whale is guilt-by-lifestyle, and trial-by-media at its worst.

Release

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After the book's release in the United States, London-based law firm Schillings, who represented Low in the 1MDB case, started working to halt its publication and distribution. The tactics used to disrupt distribution to British and Australian booksellers included threatening letters and legal missives. Some book vendors were warned about putting the book into the "True Crime" section of bookstores. The campaign against the publication of the book was unsuccessful and bookstores began selling copies on 12 September 2019.[14]

Adaptation

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Sidney Kimmel Entertainment obtained the film rights to Billion Dollar Whale.[15] A television adaptation is in the works, produced by Beau Willimon and Jordan Tappis, with David Henry Hwang as screenwriter and executive producer.[16] Michelle Yeoh will also serve as a producer.[12]

See also

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References

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  1. ^ "Bookshops threatened with legal action over book about Malaysian 'playboy banker'". the Guardian. 2018-09-14. Retrieved 2022-10-23.
  2. ^ "Finalist: Tom Wright, Bradley Hope, Simon Clark, Mia Lamar and James Hookway of The Wall Street Journal". Pulitzer. Retrieved 2022-10-24.
  3. ^ ""Billion Dollar Whale," an Absurd Tale of Financial Fraud". The New Yorker. Retrieved 2022-10-23.
  4. ^ a b Tribune, Evan Ramstad Star. "Review: 'Billion Dollar Whale,' by Tom Wright and Bradley Hope". Star Tribune. Retrieved 2022-10-24.
  5. ^ BILLION DOLLAR WHALE | Kirkus Reviews.
  6. ^ CHANDY, ANN MARIE. "'Billion Dollar Whale' book on Jho Low selling fast". The Star. Retrieved 2022-10-24.
  7. ^ "Corruption, vanity and greed: the story of 1MDB". Financial Times. 2018-09-07. Retrieved 2022-10-24.
  8. ^ "Year 2018 (list) - Best business books". FT Business Book of the Year Award. Retrieved 2022-10-24.
  9. ^ "Billion Dollar Whale by Tom Wright, Bradley Hope". FT Business Book of the Year Award. Retrieved 2022-10-24.
  10. ^ "Business Books - Best Sellers - Books - Oct. 14, 2018 - The New York Times". The New York Times. ISSN 0362-4331. Retrieved 2022-10-24.
  11. ^ "Combined Print & E-Book Nonfiction - Best Sellers - Books - Oct. 7, 2018 - The New York Times". The New York Times. ISSN 0362-4331. Retrieved 2022-10-24.
  12. ^ a b Brzeski, Patrick (2021-11-23). "'House of Cards' Creator Beau Willimon to Develop Series on Malaysia's 1MDB Corruption Scandal". The Hollywood Reporter. Retrieved 2022-10-24.
  13. ^ Lahiri, Tripti (2018-09-17). "The man wanted for Malaysia's missing billions has surfaced to tell the "true story"". Quartz. Retrieved 2022-10-24.
  14. ^ Staff Writer (19 September 2019). "The story behind "Billion Dollar Whale"". The Economist. Retrieved 26 September 2019.
  15. ^ Vlessing, Etan (2018-09-27). "'Billion Dollar Whale' Film Rights Nabbed by SK Global". The Hollywood Reporter. Retrieved 2022-10-24.
  16. ^ Davis, Rebecca (2021-11-22). "'Billion Dollar Whale' Series Adaptation in the Works From SK Global, Westward". Variety. Retrieved 2022-10-24.
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