Shkreli offers Kanye $10M to withhold album, sell exclusively to him
Pharmaceutical chief Martin Shkreli listens on Capitol Hill in Washington, Thursday, Feb. 4, 2016, during the House Committee on Oversight and Reform Committee hearing on his former company's decision to raise the price of a lifesaving medicine. (AP / Susan Walsh)
The Associated Press
Published Friday, February 12, 2016 11:57AM EST
Last Updated Friday, February 12, 2016 1:21PM EST
NEW YORK -- Former pharmaceutical chief Martin Shkreli's campaign to build up an impressive music portfolio rolls on.
After spending US$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.
aiyo @kanyewest last minute can i buy your album out so it dont get released publicly— Martin Shkreli (@MartinShkreli) February 11, 2016
Kanye and his label are legally required to take my offer letter to their Board of Directors. This should delay the album by a few days.— Martin Shkreli (@MartinShkreli) February 11, 2016
The point is NOT to keep music from people, it's to remind everyone how important and central it is in our lives.— Martin Shkreli (@MartinShkreli) February 12, 2016