Martin Shkreli, the former pharmaceutical executive who became a national figurehead for corporate greed after upping the price of a potentially life-saving drug from $13.50 to $750.
Offers to buy Kanye new album T.L.O.P.
There’s a certain logic to Shkreli’s gesture.
The former hedge fund vigilante famously bought Wu-Tang Clan’s album
“Once Upon a Time in Shaolin”
for $2 million, thus taking it off the market, as he is aiming to do with West’s latest release—but the originating idea for the Wu-Tang sale came from the musicians, not their acquisitive patron.
(Side note: Now that album is also posing a bit of a legal headache for Shkreli.)
West, who was on hand to debut his Yeezy Season 3 fashion designs and
“The Life of Pablo”
later Thursday at New York’s Madison Square Garden, seemingly intends to offer mass access to his music.
The offer is for $10 million, five times what he paid for Wu-Tang Clan’s Once Upon a Time in Shaolin.
Under the terms of the offer, Kanye would release the album to him and him alone.
Shkreli tweeted his request at the rap star on Thursday with an image of a typed letter that appears to be intended for delivery via FedEx.
“I am writing to you in hopes of convincing you to withhold the release of your forthcoming studio album,”
Shkreli’s letter reads.
“Instead of releasing this product for your millions of fans, I ask you to sell this recording solely to me, for the price of $10,000,000.”
After all, Shkreli, 32, needs entertainment more than ever now that he’sout of a job and awaiting a possible federal trial on fraud charges.
Shkreli is out on $5 million bond after his fraud arrest in December, to which he pleaded innocent.
But much of his estimated $45 million worth may be tied up in stock from one of his old companies, which is now under bankruptcy protection.
The tax man is after him as well — the IRS says he owes $4.6 million while New York State wants him to cough up $2.7 million.
(Brafman’s law firm issued a “no comment” regarding the album offer and tax lien estimates.)