Martin Shkreli has delayed Kanye West’s new album, The Life Of Pablo, for “a few days,” thanks to an offer made by Shkreli to buy Kanye’s album for $10 million.
CNBC reports that The Life Of Pablo delay could happen because the offer must be taken to Kanye West’s board of directors, which will take a little bit of time –unless Kanye declines the offer by sending Shkreli a DM on Twiter.
For a little background, Martin Shkreli is a hedge-fund boss who bought a copy of a never-before-heard Wu-Tang record for $2 million, so this guy isn’t playing around. He’s also famous for raising the price of an AIDS drug by 5,000 percent.
In Shkreli’s official offer for The Life Of Pablo, he writes, “I have been a tremendous fan of your music for many years. Specifically, the album The College Dropout inspired me to succeed at a young age.”
based on the Wu-Tang story, it’s clear Shkreli has been a fan of hip-hop music for some time.
He continues, “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. I believe you (and your partners) will find this financial arrangement more attractive than your current course of action.”
Apparently, these proposed terms must be taken to Kanye’s camp for consideration, a process which will lead to a delay of The Life of Pablo.
“My offer is not subject to a financing condition and I have discussed this offer with several investment banks and counsel which would assist me in this acquisition,” he writes. “Should we agree to general terms, I expect to proceed to an exclusive ‘no-shop’ period where we will consummate a definitive agreement over approximately two weeks.”
Martin Shkreli complained later about a limit on the number of DMs that can be sent out on Twitter accounts per day. USA Today reports that Shkreli may not even get a response about The Life of Pablo, because there’s a limit of 1,000 DMs per day.
They also reported that Shkreli is worth $45 million, meaning this investment would knock his net worth down significantly. And Martin is out on a $5 million bond after being arrested for fraud in December. Upon closer look, much of his $45 million net worth is probably tied up in stock from one of his old companies, which is under bankruptcy protection.
It seems like Shkreli is just trying to troll Kanye West and make fans mad in the process, as it seems like there’s no way he could afford spending $10 million right now. But if Kanye West wants to troll Martin Shkreli right back, he might want to consider forcing the guy to pay $10 million that he might not have.
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