How Edelsten lost $63m property fortune

He was Australia’s most flamboyant doctor, famous for driving a fleet of sports cars, flying in pink helicopters and throwing a $3.3 million wedding. But when Dr Geoffrey Edelsten died alone in his Melbourne apartment, the true extent of his staggering financial demise was exposed. Probate documents revealed the businessman, who once boasted a fortune topping $100 million, left behind an estate worth just over $1 million. The inventory of assets showed he owned zero real estate, held just $60,000 in a bank account, and owed nearly $40,000 in unpaid bills and rent. It marked a grim final chapter for the 78-year-old medical entrepreneur, who admitted to blowing $63 million in just two years on bad investments and high living. At one point during US bankruptcy proceedings, Edelsten claimed to have just $90 in cash left to his name. MORE: Zeta-Jones’ Douglas ‘ordeal’ led to shock split Unrecognisable Boyz II Men were torn apart Vanished 80s star’s shock life at 57 Geoffrey Edelsten was Australia’s most flamboyant doctor. Picture: Quinn Rooney/Getty ImagesEdelsten died in his Melbourne apartment. The newly released will showed Edelsten left nothing to his high-profile ex-wives Brynne Ed...