Billion Dollar Whale
| Company type | Book |
|---|---|
| Industry | Publishing |
| Founded | September 18, 2018 |
| Founder | Tom Wright, Bradley Hope |
| Products | Book |
Billion Dollar Whale (full title: Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World) is a factual account authored by The Wall Street Journal journalists Tom Wright and Bradley Hope. Released on September 18, 2018, through Hachette Books, the work explores the alleged involvement of Malaysian financier Jho Low in a US$4.5 billion fraud connected to the 1Malaysia Development Berhad scandal.
Despite legal attempts spearheaded by the London-based law firm Schillings to prevent its circulation in several nations, the book garnered favorable critiques.
Overview
The narrative in Billion Dollar Whale stems from comprehensive investigative journalism conducted by Wall Street Journal reporters Tom Wright and Bradley Hope, who were finalists for the 2016 Pulitzer Prize.
It details how fugitive businessman Jho Low persuaded former Malaysian Prime Minister Najib Razak to establish a sovereign wealth fund that amassed $10 billion, with approximately half of those funds disappearing. The book reveals inadequate regulatory controls that allowed Low to misappropriate assets to support a lavish lifestyle. Additionally, it highlights his ties with Gulf Arab royalty and prominent Hollywood personalities.
In the title, Low is referred to as the “whale,” a term used for gamblers who consistently place large bets.
Reception
Upon publication, Billion Dollar Whale was met with acclaim and rapidly sold out at various Malaysian bookstores. The Financial Times praised it as compelling material suitable for cinematic adaptation. It was shortlisted for the Financial Times and McKinsey Business Book of the Year Award in 2018 and also achieved status as a New York Times bestseller.
A critique from The Star Tribune acknowledged that while certain sections may feel laborious, they contribute to the book’s credibility.
By November 2021, global sales had surpassed 500,000 copies, maintaining bestseller status across Asia.
While evading capture in China, Jho Low publicly refuted the book’s assertions through a statement on his website, labeling them as "allegations disguised as fact" and condemning the work as "guilt-by-lifestyle, and trial-by-media at its worst."
Release
After its launch in the United States, the London-based law firm Schillings, acting on behalf of Low regarding the 1MDB investigation, sought to halt both publication and distribution of the book. Their approach involved issuing threatening correspondence and legal notices to booksellers in Britain and Australia, advising against shelving it in "True Crime" categories. Nonetheless, these measures proved unsuccessful, with retail outlets commencing sales on September 12, 2019.
Adaptation
Sidney Kimmel Entertainment secured film rights for Billion Dollar Whale. A television series adaptation is underway, produced by Beau Willimon and Jordan Tappis, featuring David Henry Hwang as both screenwriter and executive producer. Michelle Yeoh is also engaged as a producer.