Ken Griffin Buys a Dinosaur, 'Apex' Sold for $44.6M, Museum Controversy

In a stunning display of wealth, a near-complete Stegosaurus skeleton, affectionately named "Apex," has been sold for a wild jaw-dropping $44.6 million at Sotheby's in New York.

This sale marks the highest price ever paid for a fossil, leaving many to wonder: who really wants a dinosaur?

Apex joins the ranks of other high-profile fossil sales, including "Sue," the T. rex sold for $8.4 million in 1997, and "Stan," which fetched $31.8 million in 2020.

These sales highlight a growing trend where the luxury market intersects with paleontology, attracting collectors willing to spend millions for a piece of history.

Kenneth Cordele Griffin (born October 15, 1968) is a well-known American hedge fund manager, entrepreneur and investor.

He is the founder, chief executive officer, co-chief investment officer, and 80% owner of Citadel LLC, a multinational hedge fund

The buyer, billionaire Ken Griffin, CEO of Citadel, has made headlines not just for the price but for his intentions. Griffin has expressed a desire to loan Apex to a U.S. institution, stating, "Apex was born in America and is going to stay in America!" #USA

This philanthropic twist adds a layer of intrigue to the luxury market's fascination with dinosaur fossils.

Ken Griffin, a prominent American billionaire born on October 15, 1968 in Daytona Beach, controls 80% of Citadel LLC, a leading global hedge fund.

With a Harvard economics degree, Griffin became a celebrated CEO and Co-CIO, amassing a $35 billion fortune by April 2023.

Ken Griffin on LinkedIn

Why Apex? Its rarity and historical significance make it irresistible. Unlike other famous dinosaurs like T. rex, well-preserved Stegosaurus fossils are few and far between.

Paleontologists like Steve Brusatte lament the sale of such important specimens to private collectors, fearing they may vanish into the homes of the ultra-wealthy. [1][2][4].

Apex isn't just any dinosaur. Standing 11 feet tall and stretching nearly 27 feet long, this colossal creature is hailed as one of the finest specimens ever unearthed.

Discovered in 2022 in Colorado, it boasts 254 fossil bone elements, indicating a robust adult.

The auction drew seven bidders, with the final price eclipsing initial estimates of $4 million to $6 million. Talk about a bidding war!

With $44.6 million, you can achieve a wide range of goals and aspirations, from investing in personal growth and experiences to making impactful contributions to society. Here are ten ideas:

1. **Invest in Real Estate:**

- Purchase luxury properties or commercial real estate in prime locations. This could include vacation homes, rental properties, or even developing a real estate portfolio.

2. **Start or Expand a Business:**

- Use the funds to start a new business venture or expand an existing one. This could include investing in cutting-edge technology, hiring top talent, and increasing your market reach.

3. **Philanthropy:**

- Make significant charitable donations to causes you care about. Establish a foundation or support non-profit organizations focused on education, healthcare, environmental conservation, or social justice.

4. **Travel the World:**

- Embark on luxury travel experiences around the globe. Stay in the finest hotels, enjoy unique cultural experiences, and explore exotic destinations.

5. **Invest in the Stock Market:**

- Diversify your investment portfolio with stocks, bonds, mutual funds, and other financial instruments. Consider working with a financial advisor to maximize returns.

6. **Pursue Personal Interests and Hobbies:**

- Invest in learning new skills or hobbies, such as acquiring a private pilot's license, collecting art, or engaging in high-end sports like yachting or car racing.

7. **Enhance Your Lifestyle:**

- Upgrade your lifestyle with luxury cars, designer wardrobes, and high-end gadgets. Consider creating a state-of-the-art home theater or building a private gym.

8. **Education:**

- Fund your own or your family’s higher education. This could include attending prestigious universities, enrolling in executive education programs, or setting up education trusts for future generations.

9. **Secure Your Future:**

- Ensure long-term financial security by investing in retirement plans, life insurance, and estate planning. Consider setting up trusts or wills to manage and protect your wealth.

10. **Support Innovation and Entrepreneurship:**

- Invest in startups or venture capital funds that are working on innovative solutions in technology, healthcare, renewable energy, or other cutting-edge fields. This can provide both financial returns and a sense of contributing to the future.

Each of these options offers different benefits and potential returns, depending on your personal goals and interests.

1. Apex (2024): Sold for $44.6 million at Sotheby's, this nearly complete specimen is hailed as one of the best-preserved Stegosaurus fossils ever found. The auction price exceeded initial estimates of $4 million to $6 million and surpassed the previous record by a substantial margin.

2. Stan (2020): This Tyrannosaurus rex skeleton was sold for $31.8 million], holding the record for the highest price for a dinosaur fossil until Apex's auction. Stan is notable for its completeness and historical significance, but Apex has now eclipsed it by over $12 million.

3. Sue (1997): The famous T. rex skeleton was sold for $8.4 million, making it the first dinosaur fossil sold at auction. Sue's sale marked a significant moment in the commercialization of dinosaur fossils, paving the way for future high-stakes auctions.

4. Gorgosaurus (2022): This skeleton fetched over $6 million, further illustrating the growing market for dinosaur fossils but still falling far short of the prices achieved by Apex and Stan.

The record-breaking sale of Apex not only highlights the increasing value of dinosaur fossils in the luxury market but also raises questions about the future of paleontological specimens. With prices soaring, the competition between private collectors and museums intensifies, prompting ongoing debates about the accessibility of these significant scientific artifacts.

::[1] edition.cnn.com

[2] nbcnews.com

[3] cnbc.com

[4] bbc.com

[5] youtube.com/watch?v=Lgez0ZkMtsg

Mark Derho is a seasoned expert in the Internet industry with over 25 years of experience in NYC's software development, digital marketing, and advertising sectors. A certified Google Partner, Mark specializes in content creation, AI chatbot development, open-source software, modern website design, and SEO/SEM marketing. He leads PR Website Agency and lives in Puerto Rico with his dog, Luno.

Mark Derho is a seasoned expert in the Internet industry with over 25 years of experience in NYC's software development, digital marketing, and advertising sectors. A certified Google Partner, Mark specializes in content creation, AI chatbot development, open-source software, modern website design, and SEO/SEM marketing. He leads PR Website Agency and lives in Puerto Rico with his dog, Luno.