Billionaire banking heir Matthew Mellon dies at 54

New York, April 17

Billionaire banking heir Matthew Mellon has died. He was 54.

His cousin Peter Stephaich confirmed Mellon's death today but declined to provide any details.

Mellon comes from the Mellon and Drexel families of Bank of New York Mellon and Drexel Burnham Lambert.

According to Mellon's Linked In account and documents of the Securities and Exchange Commission, he attended the Wharton School and later worked in fashion, telecommunications and finance, most recently as an adviser for the digital currency company Ripple Labs.

Mellon also served for a time as the chairman of the finance committee of the Republican Party in New York. Mellon is survived by his first wife, fashion designer Tamara, his second wife, fashion designer Nicole Hanley, and three children. AP