Netflix 'Myth & Mogul: John DeLorean': How did iconic car designer die? Greed ruined his legacy
John DeLorean was an inventor and made some of the finest cars in the 1970s, but something worse was waiting for him
Netflix is known for making content that put focuses on people who have done something substantial for society. On the other hand, they also have a lot of stories showing the real face of greed, corruption, and sick mentality.
From ‘The Sons of Sam’ to ‘Heist’, the streaming giant is filled with intriguing docuseries that will make you gasp and it seems like they are in no mood to stop. Netflix is coming out with the much-awaited documentary series on the life and legacy of John DeLorean. Titled ‘Myth & Mogul: John DeLorean’, the show revolves around DeLorean, who was an American engineer and inventor known for his work at General Motors and as the founder of the DeLorean Motors Company.
He was a visionary and worked at GM’s Pontiac Division. DeLorean started working on a car named Pontiac GTO (Gran Turismo Omologato). The car became so successful that DeLorean became an overnight star in the US and became the youngest person to head a division at General Motors. He did not stop here and continued his golden run in the coming years as well. In the early ‘70s, he created his own automobile company called DeLorean Motor Company.
This was the time when everything started to get upside down and he was really close to witnessing a downfall. He took his last breath on Saturday, March 19, 2005, and left behind a legacy that got never fulfilled.
But how did he die? And why did he suffer such a downfall after making some of the most successful cars in the US? Let’s dig a little deeper.
Greed drove DeLorean to destruction
He was one of the most glamorous automobile makers in the US. DeLorean wanted to make cars for himself and become famous. He craved popularity and used his hard-earned money to get what he wanted. The man wanted to make a futuristic car that would kill all the competition.
After creating his own company in the early 1970s, DeLorean became a fanatic about achieving his dreams. He made a car named DMC DeLorean for the American market and believed that people would surely come to buy his new vehicle. However, it did not go as he would have expected to go. There were numerous delays and the car that started getting produced in the mid-1970s reached the market in January 1981.
It was one of the worst times to launch a new product because of the 1980 US Economic Recession. Nevertheless, the car got average reviews and people believed that the car was priced way too higher and had lower horsepower as compared to other cars in the same segment. The car turned out to be a flop and almost 7,000 DeLoreans produced remained unsold as DMC went into a debt of $175 million.
However, he was adamant that he will be producing cars that will take him to the top once again. The greed of getting famous again was latching on to him. But it all came crashing down when he was arrested in Los Angeles for the possession of 27 kg of cocaine worth $6.5 million.
One of DeLorean’s former neighbors James Timothy Hoffman became a confidential informant for the FBI and reported that the carmaker approached him to ask about setting up a cocaine deal. In reality, it was him who suggested the deal. During the trial, DeLorean and his team of lawyers came out victorious as it was found that police unfairly targeted and illegally entrapped DeLorean. Call logs of DeLorean also indicated that it was Hoffman who called him first. Finally, on August 16, 1984, he was found not guilty. But everything was lost. DMC already collapsed into bankruptcy and his reputation was completely destroyed.
The case went on to become the lowest point in his career and all the investors were going against him as well. In 1985, he was indicted on charges he defrauded investors and committed tax evasion by diverting millions of dollars raised for the company to himself. However, he was acquitted of all the charges.
DeLorean was not the same person he was a few years back and completely moved out of the automobile sector. He did make a comeback and started producing plastic sports cars with high speeds, but he could never rise to fame again.
How did John DeLorean die?
After fighting long legal battles, John DeLorean suffered a lot of health issues. He died in 2005 due to complications from a stroke and had been living in a one-bedroom apartment in Bedminster. Everyone who was associated with DeLorean or the automobile world felt like an icon was gone. People may think whatever they want to but he made cars that were good and made everyone feel good about themselves.
Some bad decisions led to his downfall and the greed of earning riches for himself ultimately became a curse.
‘Myth & Mogul: John DeLorean’ will be premiering exclusively on Netflix on Friday, July 30.