After two turbulent decades in the ice trade, Frederic Tudor had finally made it. Expanding into the American South had paid off, with cities like New Orleans delivering steady profit. But Tudor’s insatiable appetite for risk kept pushing him to bet everything – again and again – even as losses mounted and disaster loomed.

As he entered his 50s, Tudor seemed ready to slow down. But when he was offered the opportunity to ship his ice halfway around the world to India, he couldn’t resist expanding his business once more. And just when it seemed he had mastered the trade he built from nothing, one final gamble threatened to undo everything he’d spent decades building.

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