Thursday, November 09, 2006

Well, this is just fun...

Billionaire businessman Eli Broad and two other really rich guys have teamed up to submit a bid for the Chicago's Tribune Co., which owns 11 daily newspapers, 25 TV stations, and the Chicago Cubs baseball team. Its newspapers include the LA Times and the Chicago Tribune, Newsday in New York, The Baltimore Sun, South Florida Sun-Sentinel, Orlando Sentinel and The Hartford Courant.

Broad has an estimated net worth of around $5.8 billion and is ranked by Forbes as the 42-richest person in America.

And now for the fun part: In 1994, Broad purchased Roy Lichtenstein's painting I...I'm Sorry (above) for $2.5 million at a Sotheby's auction -- he used his American Express Card to pay for the painting (true), and earned 2.5 million frequent-flyer miles (also true)!


The Phoenix said...

$2.5 million for something that looks like came out of my Sunday Comics? I think supremely wealthy people look for stupid stuff to spend their money on.
to him, $2.5 mil would be like buying a Big Mac to me

sleepyrn said...

I wonder if his private jet (he must have at least one!!!) honored his frequent flier miles.
what he actually got were AMEX Membership Rewards Points, which can be redeemed for travel or for stuff, every 10,000 points gets you a $100 gift card at Home Depot