The Wu-Tang Clan's "Once Upon a Time in Shaolin' Is Most Expensive Album, Purchased By Controversial Pharmaceutical Executive Martin Shkreli For $2 Million
The identity of the person who now owns the one and only copy of the Wu-Tang Clan's "Once Upon a Time in Shaolin" album has been unveiled, and it's none other than pharmaceutical firm executive Martin Shkreli.
"Once Upon a Time in Shaolin" is a newsmaker in itself, but the fact that Martin Shkreli owns the only existing copy has made it an even bigger buzz.
Martin Shkreli is the 32-year-old executive of pharmaceutical company Turing Pharmaceuticals. He earned waves of criticism this year for jacking up the price for anti-parastic drug Daraprim from $13.50 to $750 per pill. Daraprim is drug used to treat patients suffering from AIDS and cancer.
Bloomberg reported Wednesday that the Wu-Tang Clan's Robert Diggs, also known as RZA, announced in March 2014 that they were to release " Shaolin" as "single-sale collector's item", and anyone who would claim rights to it would be likened to "someone having the scepter of an Egyptian king."
The album was recorded from 2006 to 2013 and contains 26 tracks in total.
In an interview with Bloomberg, RZA said "Shaolin" was coveted by multiple suitors, including "private collectors, trophy hunters, millionaires, billionaires, unknown folks, publicly known folks, businesses, companies with commercial intent, young, old."
Shkreli reported bought the album for a jaw-dropping $2 million. Before finalizing his purchase, he was allowed to listen to snippets of the songs. The sale was made prior to Shkreli's acquisition of Daraprim and its subsequent price hike.
According to Vulture, part of the terms of ownership prevents the buyer from putting the album up for sale commercially, meaning the album will solely be for Shkreli's personal use.
The Verge noted Wednesday that the Wu-Tang Clan isn't so pleased to learn that Shkreli is the proud owner of "Shaolin", who was described by BBC as someone who "may be the most hated man in America".
RZA also revealed that the group "decided to give a significant portion of the proceeds to charity."
Surprisingly, Martin Shkreli hasn't listened to "Once Upon a Time in Shaolin" yet and is reportedly saving that moment "for a rainy day".
