In 1925, a handsome 35-year-old con artist made a fortune selling a famous piece of French real estate.
The item for sale: The Eiffel Tower.
Who's up for a story?
👇👇👇
The item for sale: The Eiffel Tower.
Who's up for a story?
👇👇👇
1/ Victor Lustig was always looking for his next score.
Born in 1890 in Austria-Hungary, Lustig had built a vibrant career out of audacious scams and cons.
He had a mesmerizing charm and possessed an air of nobility.
He took to calling himself Count Lustig.
Born in 1890 in Austria-Hungary, Lustig had built a vibrant career out of audacious scams and cons.
He had a mesmerizing charm and possessed an air of nobility.
He took to calling himself Count Lustig.
2/ Fluent in 5 languages, he sailed on transatlantic ocean liners, scamming wealthy passengers along the way.
But in 1925, he started to think bigger.
While staying in France, Lustig read a newspaper describing the maintenance problems facing the Eiffel Tower.
He had an idea.
But in 1925, he started to think bigger.
While staying in France, Lustig read a newspaper describing the maintenance problems facing the Eiffel Tower.
He had an idea.
3/ The Eiffel Tower was constructed in 1889 as the entrance to the 1889 World's Fair. At the time, it was the tallest man-made structure in the world.
But by 1925, its annual maintenance had become a major national headache.
Some French observers had called for its removal.
But by 1925, its annual maintenance had become a major national headache.
Some French observers had called for its removal.
4/ Victor Lustig had been looking for a big score. He had found it.
He would sell the Eiffel Tower to the highest bidder!
Lustig sent out invitations on forged government stationary, inviting a group of scrap metal dealers to a confidential meeting at a fancy Paris hotel.
He would sell the Eiffel Tower to the highest bidder!
Lustig sent out invitations on forged government stationary, inviting a group of scrap metal dealers to a confidential meeting at a fancy Paris hotel.
5/ In the meeting, Lustig introduced himself as Deputy Director General of the Ministry of Posts and Telegraphs.
He explained to the gathered men that the maintenance of the Eiffel Tower had become too burdensome.
The French government wished to sell it for its scrap.
He explained to the gathered men that the maintenance of the Eiffel Tower had become too burdensome.
The French government wished to sell it for its scrap.
6/ One man, Andre Poisson, appeared to Lustig to be most likely to fall for the rouse.
Poisson was extremely eager to elevate his status as a businessman and viewed this as his big moment.
Like any good con artist, Lustig singled out his mark, arranging a follow up meeting.
Poisson was extremely eager to elevate his status as a businessman and viewed this as his big moment.
Like any good con artist, Lustig singled out his mark, arranging a follow up meeting.
7/ He told Poisson that he could guarantee the Eiffel Tower contract if Poisson were to pay him a bribe.
Anxious to win the deal, Poisson agreed, paying Lustig the asking price plus a bribe in cash.
Lustig is believed to have received ~250K francs (>$1M today).
Quite a score!
Anxious to win the deal, Poisson agreed, paying Lustig the asking price plus a bribe in cash.
Lustig is believed to have received ~250K francs (>$1M today).
Quite a score!
8/ By the time Poisson realized he had been conned, Lustig was in Vienna, counting his money.
Deeply embarrassed, Poisson never contacted the police or reported a crime.
His scam still a secret, Lustig actually went back to Paris and tried to sell the Eiffel Tower...again!
Deeply embarrassed, Poisson never contacted the police or reported a crime.
His scam still a secret, Lustig actually went back to Paris and tried to sell the Eiffel Tower...again!
9/ This time, he would not be so lucky. Police were informed and he fled to the US.
He was eventually arrested in 1935 in New York and sentenced to 15 years on Alcatraz Island.
When he died in 1947, his death certificate ironically listed his occupation as Apprentice Salesman.
He was eventually arrested in 1935 in New York and sentenced to 15 years on Alcatraz Island.
When he died in 1947, his death certificate ironically listed his occupation as Apprentice Salesman.
10/ So that is the story of "Count" Victor Lustig, the man who sold the Eiffel Tower.
For more on this story and other great financial scams, I highly recommend "Don't Fall For It" by @awealthofcs. I guarantee you will enjoy it!
amazon.com/Dont-Fall-Shor…
For more on this story and other great financial scams, I highly recommend "Don't Fall For It" by @awealthofcs. I guarantee you will enjoy it!
amazon.com/Dont-Fall-Shor…
11/ And for more educational threads on money, finance, and economics, check out my meta-thread below. Stay tuned for more!
