---
title: "Wall Street Exec Quits After Reportedly Making Dogecoin Fortune"
description: "A Goldman Sachs senior manager has quit the investment bank after cashing in and making millions from Dogecoin, the cryptocurrency championed by Elon Musk."
date: "2021-05-12"
modified: "2021-05-12"
authors:
  - name: "Victor Tangermann"
    job_title: "Senior Editor"
    link: "https://futurism.com/authors/victor"
url: "https://futurism.com/the-byte/wall-street-exec-dogecoin"
categories:
  - "Future Society"
tags:
  - "dogecoin"
  - "elon musk"
  - "goldman sachs"
  - "the digest"
---

# Wall Street Exec Quits After Reportedly Making Dogecoin Fortune

![A Goldman Sachs senior manager has quit the investment bank after cashing in and making millions from Dogecoin, the cryptocurrency championed by Elon Musk.](<https://futurism.com/wp-content/uploads/2021/05/wall-street-executive-millions-dogecoin.jpg>)
*\<em\>Image: \<a href="https://commons.wikimedia.org/wiki/File:Over_$1,000,000_dollars_in_USD_$100_bill_stacks.png" target="\_blank"\>Flying Logos/Futurism\</a\>\</em\>*

## Get Out

A Goldman Sachs senior manager has quit the investment bank after reportedly making millions from [Dogecoin](<https://futurism.com/tags/dogecoin>), the joke cryptocurrency championed by billionaire and Tesla CEO Elon Musk, [*The Guardian* reports](<https://www.theguardian.com/technology/2021/may/11/goldman-sachs-executive-quits-after-making-millions-from-dogecoin>).

According to the newspaper's sources, Aziz McMahon, once Goldman Sachs's managing director and head of emerging market sales, resigned after filling his pockets from recent gains in his Dogecoin investments — a reminder that while it's easy to lose money in the ultra-volatile world of cryptocurrency, a smaller group of savvy or lucky investors are also doing very, very well for themselves.

## Dogefather

Musk recently sent the alternative cryptocurrency on a rollercoaster, first causing it to leap to more than $0.70 after hyping it up on Twitter, but then causing it to come [crashing back down](<https://futurism.com/the-byte/dogecoin-price-elon-musk-snl>) immediately upon [making an appearance](<https://futurism.com/the-byte/elon-musk-jokes-mars-colonists-dying-horribly>) on "Saturday Night Live" over the weekend.

Given McMahon's likely considerable gains, the banker likely got out before Musk's SNL appearance. This morning, by contrast, Dogecoin is back down to around $0.48.

McMahon worked for Goldman Sachs for 14 years, according to *The Guardian*. He seems to absconded with his newfound wealth and has yet to respond to any requests for comment.

Despite this one success story, investments in cryptocurrencies come with inherent risks. As has always been the case, the value of the tokens tend to fluctuate wildly over time, making them a poor choice for investing your life savings — as Musk himself [has repeatedly advised](<https://futurism.com/the-byte/elon-musk-reverses-course-on-dogecoin-invest-with-caution>).

**READ MORE:** [Goldman Sachs executive quits after making millions from Dogecoin](<https://www.theguardian.com/technology/2021/may/11/goldman-sachs-executive-quits-after-making-millions-from-dogecoin>) \[*The Guardian*\]

**More on Dogecoin:** *[Elon Musk Hints Tesla Might Soon Accept Dogecoin](<https://futurism.com/the-byte/elon-musk-tesla-accept-dogecoin>)*

## Author
I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida.

### Author social links  
[Bluesky](<https://bsky.app/profile/vtanger.bsky.social>)