Here's What Pharma Bro Is Spending His Fortune On

December 9th 2015

Kyle Jaeger

Last year, the iconic rap group, the Wu-Tang Clan, announced that it would only release one copy of their next album, "Once Upon a Time in Shaolin," auctioning it to the highest bidder. The identity of that mystery buyer, who spent $2 million to obtain the exclusive record, was just revealed.

Martin Shkreli, the CEO of Turing Pharmaceuticals who raised the price of, Daraprim, a live-saving drug by about 5,000 percent after his company acquired it in September, is now the album's sole owner, Bloomberg reports.

RELATED: Martin Shkreli Is at the Center of yet Another Sleazy Controversy

The co-founder of the startup in charge of selling the album apparently told Shkreli that he'd meet a lot of celebrities and rappers if he bought the album. "Then I really became convinced that I should be the buyer," he said.

After raising the price of Daraprim from $13.50 to $750 per pill, Democratic presidential candidate Bernie Sanders condemned the former hedge fund manager, and the two have been engaged in a back-and-forth over drug pricing for months now. In an effort to arrange a private meeting to discuss the issue with Sanders, Shkreli donated $2,700 (the maximum individual contribution) to the candidate's campaign. Sanders publicly rejected the donation, giving the money to an HIV clinic instead.

Martin Shkreli just challenged Bernie Sanders to a public debate.

Martin Shkreli just challenged Bernie Sanders to a public debate.

Posted by ATTN: on Tuesday, October 13, 2015

Shkreli after the Daraprim hike.

In case you haven't been following Shkreli's antics of late, here's what you missed: He was called before a special Senate committee for a hearing on drug pricing; he broke his promise to lower the price of Daraprim; and he became the CEO of another drug company, KaloBios, after leading a group of investors to acquire 70 percent of the company.

Despite being cast as the face of pharmaceutical greed, Shkreli has continued to bask in the limelight. His Twitter account is full of political commentary and he hosts almost daily livestreaming sessions on YouTube, where he discusses everything from finance to popular culture.

After news broke of the Wu Tang-Clan album sale on Tuesday, for example, Shkreli polled his livestream viewers, asking "which artist should I approach to buy a private album from? (must be alive)."


RELATED: Martin Shkreli Won't Lower the Price of Daraprim After All

In a statement responding to Bloomberg's report, Wu-Tang leader RZA said that the "sale of 'Once Upon a Time in Shaolin' was agreed upon in May, well before Martin Shkreli's business practices came to light. We decided to give a significant portion of the proceeds to charity."