Billionaire investor Ken Griffin, founder and CEO of hedge fund Citadel, has shattered auction records by splurging $44.6 million for a dinosaur skeleton. According to the New York Post, Mr Griffin purchased the largest and the most intact stegosaurus skeleton at Sotheby’s on Wednesday, making it the most valuable fossil ever sold at auction.
Estimated to be 150 million years old, the behemoth dubbed "Apex," was excavated just outside present-day Dinosaur, Colorado, in May 2022 by palaeontologist Jason Cooper. According to Sotheby's, the Apex stegosaurus is the largest ever discovered, standing at an impressive 11 feet (3.3 meters) in height and 27 feet (8.2 meters) in length, with a remarkable 254 out of an estimated 319 bones preserved, making it nearly complete.
Mr Griffin secured the skeleton by outbidding six other participants in an auction that lasted 15 minutes. The skeleton, initially anticipated to sell for around $6 million, was purchased for $44.6 million, 11 times its lower estimate, marking a new record for dinosaur fossils.
Watch the auction video here:
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''Apex' lived up to its name today, inspiring bidders globally to become the most valuable fossil ever sold at auction. This sale has been years in the making, and at every turn, we have worked closely with Jason Cooper, from the moment of its discovery in Dinosaur, Colorado, to its sale in New York,'' said Cassandra Hatton, Sotheby's global head of science and popular culture in a statement.
According to Forbes, the hedge fund chief is a regular donor to the Republican party and has a net worth of approximately $37.8 billion. He now plans to loan the skeleton to institutions across the United States instead of keeping it for his private collection.
The first ever Stegosaurus fossil just hit auction and it fetched a whopping $44.6m USD when it sold at Sotheby's New York — the largest sum paid for a dinosaur skeleton in history. pic.twitter.com/O7unz0vXSs
— HYPEBEAST (@HYPEBEAST) July 18, 2024
"Apex was born in America and is going to stay in America!" he said following the sale, according to CBS News.
In 2017, he donated $16.5 to Chicago's Field Museum to fund an exhibit featuring the largest tyrannosaurus rex skeleton ever discovered.