Shkreli offering $10M to buy Kanye West’s new album
New York — Former pharmaceutical chief Martin Shkreli’s campaign to build up an impressive music portfolio rolls on.
After spending $2 million for the sole copy of Wu-Tang Clan’s “Once Upon a Time in Shaolin” late last year, the 32-year-old former hedge fund manager is now offering $10 million to become the sole owner of Kanye West’s new album.
Shkreli, an active Twitter user, posted a copy of an offer letter for West’s new album “The Life of Pablo” to his account on Thursday. In the letter, Shkreli, asks West to withhold the release of his album and instead sell it to him.
Shkreli said in a separate tweet that West and his label, Universal Music Group, are legally required to take his offer to their board. He said it could delay the album’s release by a few days.
West has yet to comment on Shkreli’s offer on his official Twitter account, but did tweet Friday that the album was being mastered and would be out on Friday.
Universal Music Group did not immediately respond to an email seeking comment.
Shkreli made headlines last year after a drug company he founded, Turing Pharmaceuticals, spent $55 million for the U.S. rights to sell a life-saving medicine called Daraprim, then raised the price by more than fifty-fold.
He was called last week before a congressional committee investigating the price of drugs, but cited the Fifth Amendment privilege against self-incrimination.
Before the meeting was over, however, Shkreli was back on Twitter, calling members of Congress “imbeciles.”
Shkreli is out on $5 million bail after being arrested in New York in December on securities-fraud charges not directly related to the drug price increase.