How Edelsten lost $63m property fortune

Key points

• Probate documents show Dr Geoffrey Edelsten, who died alone in his Melbourne apartment in June 2021, left an estate worth just over $1 million. The inventory showed he owned no real estate and owed nearly $40,000 in unpaid bills and rent.
• He had admitted to spending $63 million in two years on bad investments and high living. His will left his only child, Matthew Beard, $50,000 plus $1000 for each year from 2017 to his death, and left nothing to his former wives.
• The Australian Taxation Office had pursued him for $14 million in unpaid taxes and fines.