Molly Bloom Admits She Was âIn Too Deepâ in High-Stakes Games
6 years ago28 Nov
The stories of high-stakes underground poker games which Molly Bloom ran for the rich, famous and successful â and made into the soon-to-be-released movie âMollyâs Gameâ â got an unexpected airing this week when Bloom broke her silence about the lifestyle she led during her time as the ultimate âfixerâ.
Bloom took to the stage at Fortuneâs Most Powerful Women Next Gen Summit in Laguna Niguel and spoke about the money she earned, how she collected â or failed to collect â her dues for arranging the games which attracted the likes of Leonardo DiCaprio, Ben Affleck and Tobey Maguire, as well what she learned from dealing with the Russian Mafia and the FBI.
âI didnât have the traditional resource to collect on debts,â Bloom told moderator Pattie Sellers, part of her âfixerâ role being to extend credit to the high-stakes poker addicts who would converge on her upmarket New York apartment for the games, and admitting that: âOne night, I saw someone lose $100 million,â although the loser would remain nameless.
The book, which appeared in 2014 and was titled âMollyâs Game: From Hollywoodâs Elite to Wall Streetâs Billionaire Boys Club, My High-Stakes Adventure in the World of Underground Pokerâ, revealed much of what led Bloom from Olympic skier to waitress to high-stakes hostess.
Her recent appearance at the Fortune event - âa room full of entrepreneurial businesswomenâ â saw her share âsome of the lessons she learned running a decidedly different kind of start-up and, well, getting a bit far over her skisâ, as the âMost Powerful Womenâ article describes it.
How Bloom even got started in the underground poker scene is one such story, Bloom explaining:
âThe motivations I had for being successful were somewhat dysfunctional. If you werenât the best in the world in my family, it wasnât impressive. I was looking for this thing that was going to make me feel fulfilled inside.â
Personal fulfilment was one thing, but it brought with it some serious downsides, Bloom eventually taking a cut of the rake:
âThatâs where I crossed that little gray line,â she admits, as well as stating, âIn 2009, my tax returns showed over $4 million.â
The money naturally attracted sharks of a different nature â Bloom having to deal with the Russian mob who wanted in on the action â and eventually to the FBI bringing the whole lucrative business to an end, Bloom even needing a special customs waiver to enter Canada for the screening of Aaron Sorkinâs movie premiere of her story in Toronto this September.
Bloom readily admits that it was a number of factors which led to her downfall; âgreed, ambition, naiveteâ listed by Sellers and meeting with the response:
âI think it was all those things. I was in way too deep.â
Quite how the movie version will portray Bloom is yet to be seen by the wider public, but December 22nd and the release of the Jessica Chastain and Idris Elba-acted roles of Bloom and her lawyer will doubtless answer that much anticipated question.
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