In a historic auction, Ken Griffin, the hedge fund billionaire, has purchased a Stegosaurus fossil for a record-breaking $44.6 million.
What Happened: The 150-million-year-old dinosaur, affectionately named "Apex," was auctioned off at Sotheby's on Wednesday. The sale price is the highest ever paid for a fossil at an auction, reported The Wall Street Journal.
Griffin, the 55-year-old founder and CEO of Citadel, expressed his intention to lend "Apex" to a U.S. museum. The dinosaur was discovered by commercial paleontologist Jason Cooper on his property in Dinosaur, Colo., two years ago. The skeleton, standing at 27 feet, is almost complete, with at least 254 of its approximately 319 bones found on-site.
"Apex was born in America and is going to stay in America," Griffin said after the sale.
Griffin has a history of acquiring significant pieces. In 2021, he outbid a group of Bitcoin (CRYPTO: BTC) and cryptocurrency investors to secure a $43.2 million first-edition copy of the U.S. Constitution, which he later loaned to the Crystal Bridges Museum of American Art.
Why It Matters: The sale of the Stegosaurus fossil is part of a growing trend of high-profile auctions of rare and historic items. In July 2022, a 77-million-year-old Gorgosaurus skeleton was auctioned at Sotheby's New York, expected to sell for up to $8 million. The Gorgosaurus, unearthed near Havre, Montana, was notable for being the only one not part of a museum collection.
More recently, in September, Bob Ross's first artwork from "The Joy of Painting" was listed for $9.8 million. The painting, titled "A Walk in the Woods," was featured in the inaugural episode of the beloved PBS show, captivating audiences with Ross's tranquil demeanor and gentle strokes. The painting is currently housed at the Modern Artifact gallery in Minneapolis.
Additionally, in August, several rare Apple Inc. and Steve Jobs-associated items were auctioned, including a sealed iPhone and an Apple-1 computer. These auctions highlight the increasing value and interest in rare and historic artifacts.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote