The buyer of Wu-Tang Clan’s Once Upon A Time In Shaolin has been revealed. Martin Shkreli aka the Pharma Bro who upped the cost of an HIV drug exponentially for profit, is who purchased the one of a kind album for a speculated $2M.
Reports Bloomberg Business:
Shkreli heard about Once Upon a Time in Shaolin and thought it would be nice to own, too. He attended a private listening session at the Standard Hotel hosted by Paddle8 co-founder Alexander Gilkes. Shkreli, who describes himself as a bit of a recluse, recalls Gilkes telling him that if he bought the record, he would have the opportunity to rub shoulders with celebrities and rappers who would want to hear it. “Then I really became convinced that I should be the buyer,” Shkreli says. (Paddle8 declined to comment, citing their policy of client confidentiality.) He also got to have lunch with RZA. “We didn’t have a ton in common,” Shkreli says. “I can’t say I got to know him that well, but I obviously like him.”
Having participated in bidding wars for companies and drugs, Shkreli says he had a feeling from the start that he’d made the highest offer for Shaolin. As it turned out, he was right. Shkreli won’t say how much he paid. But someone familiar with the deal says that the Wu-Tang Clan sold him the album for $2 million. Before he closed on the acquisition, Shkreli was permitted to listen to a few more snippets to make sure it was all there. Shkreli delegated the task to an employee. The same month, news broke that Shkreli’s new company, Turing Pharmaceuticals, had purchased an anti-parasitic drug called Daraprim and raised its price from $13.50 a pill to $750. Democratic presidential candidate Hillary Clinton denounced him. “Price gouging like this in the specialty drug market is outrageous,” Clinton tweeted. Her Republican opponent Donald Trump also attacked Shkreli. “He looks like a spoiled brat to me,” Trump said. The BBC wrote that Shkreli “may be the most hated man in America.”
Reportedly, the deal to buy the album was completed before the controversy of Shkreli’s drug price gouging came to light.
“The sale of Once Upon a Time in Shaolin was agreed upon in May, well before Martin Skhreli’s [sic] business practices came to light. We decided to give a significant portion of the proceeds to charity,” the RZA told Bloomberg.
We couldn’t make this ish up if we tried. Read the full story right here.
Photo: Bloomberg Business
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