Billionaire banking heir Matthew Mellon dies in rehab: report

Billionaire banking heir Matthew Mellon died at a rehabilitation center in Cancun, Mexico.

He was 54.

Mellon is a descendant of Judge Thomas Mellon, founder of the Mellon Bank — currently doing business under Bank of New York Mellon Corp. (NYSE: BK). He is also a direct descendant of Anthony Joseph Drexel, founder of a precursor to Drexel Burnham Lambert.

Per The Associated Press, the news of his death was confirmed by Mellon's cousin, Peter Stephaich. Details as to the what led to Mellon's…

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