Pharmaceutical CEO Martin Shkreli became a household name when he infamously
raised the price of a critical drug by 5,000% in September.
But that may not have been the defining point of his month.
It turns out the 32-year-old executive was also in a bidding war for the sole copy of an exclusive Wu-Tang Clan album in September.
And, according to Bloomberg Businessweek’s Devin Leonard and Annmarie Hordern, who first reported the story, he won the auction and paid about $ 2 million for the record.
Hip-hop group Wu-Tang Clan only released one copy of its latest album, Once Upon a Time in Shaolin, to be sold to the highest bidder.
Serious bidders were allowed to listen to 13 minutes of highlights, according to the report. Shkreli, who won the bid, was reportedly allowed to listen to a bit more than the 13-minute highlights before closing the deal, but assigned that job to an employee instead.
Shkreli became the subject of public ire when his drug company, Turing Pharmaceuticals, raised the price of the antiparasitic drug Daraprim from $ 13.50 a tablet to $ 750 a tablet.
At the time, he responded to public backlash on Twitter, citing rap artist Eminem.
The price increase prompted responses from Democratic presidential candidates Sen. Bernie Sanders (I-Vermont) and Hillary Clinton, and legislators have called Shkreli to Washington to explain his business practices.
Shkreli has since said he will cut the drug’s price by as much as 50%, leaving the price somewhere around $ 375 per pill.
Read the full Businessweek story here.
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