Billionaire hedge fund owner buys ‘Apex’ stegosaurus fossil for record $44m

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Billionaire hedge fund owner Ken Griffin has purchased the largest stegosaurus fossil ever found for a record $44.6m (£34.3m).

The Citadel hedge fund founder bought the fossil, known as “Apex”, at the New York auction house Sotheby’s with the final purchase price vastly exceeding the initial pre-action estimate of $6m.

Although the buyer’s name was not disclosed by Sotheby’s, people close to Mr Griffin confirmed to the Financial Times that he was the successful bidder.

The fossil — which is 11ft tall and 27ft long — will be loaned to an institution in the US, Sotheby’s said.

“Apex” is the latest dinosaur fossil to be bought by Mr Griffin. In 2018, he gave $16.5m to the Field Museum in Chicago to fund the display of the biggest dinosaur ever discovered, a titanosaur.

In another separate purchase by the hedge fund owner, Mr Griffin paid $43.2m for a copy of the US Constitution in 2021, which he loaned to the Crystal Bridges Museum in Arkansas.

Sotheby's said it collaborated closely with the owner to document the entire process, to ensure that the documentation and sale of the specimen is handled with the highest standards and transparency.

The auction house was also the first-ever to put up a dinosaur at auction in 1997 – “Sue” the Tyrannosaurus rex.

The Stegosaurus is the best-known member of the armored dinosaurs (Thyreophorans), characterised by the distinctive shape and arrangement of dermal armor on its back, extending from the neck to the tail.

“Apex” was discovered in May 2022 in the Morrison Formation, located in Colorado, near the town of Dinosaur. The excavation was completed in October 2023.

The name "Apex" was chosen to underscore its prominence within the Stegosaurus family, reinforcing the high regard for Stegosaurus among dinosaurs, Sotheby’s said.

A comparable fossil, “Sophie”, is held in the collection of the National History Museum in London.

Cassandra Hatton, Sotheby’s Global Head of Science & Popular Culture, said: “‘Apex’ marks an incredibly important milestone, as simply one of the best fossils of its kind ever unearthed.

Stegosaurus is one of the most universally recognizable dinosaur species, whose unmistakable silhouette has been a source of fascination and wonder for generations.

Through the careful process of excavation, preparation, and installation, ‘Apex ‘sets a new standard for all future discoveries of this magnitude, and further reinforces the enduring appeal of Stegosaurus and its vaunted status in popular culture.”

The buyer’s identity was first reported by the Wall Street Journal.