Michael Malekzadeh is the sneaker king. He has made over $300 million buying and selling fancy sneakers “where scarcity and cool” drive ridiculous prices.
On his Instagram, the “39-year-old showed off his Ferraris and a six-figure Girard-Perregaux watch next to a hamburger. He also posted shots of himself riding a $29,000 Louis Vuitton bicycle inside his million-dollar home in Eugene, Ore.”
He collected orders for 600,000 pairs of Air Jordans at a price between $115 and $200 per pair, totaling over $70 million. Unfortunately he was not able to fill those orders.
Now he is under indictment for bank fraud, wire fraud and money laundering. Probably going to jail. Probably will have enough fines to make him broke.
He had a good run.
