Martin Shkreli, a pharmaceutical entrepreneur, expressed his wish to buy Kanye West's new album. Martin tweeted an official letter to the rapper expressing his desire to buy his album. Martin wants to be the sole owner of the album.
FORTUNE quoted the pharmaceutical owner who said on his twitter account that Kanye's album "The College Dropout" motivated him to succeed in his life. He has also said that he is a "tremendous" fan of Kanye's music.
As per the terms of the deal, Martin is ready to pay the rapper $10 million in exchange for sole rights to Kanye's "The Life of Pablo." The offer, which is a non-binding deal, is subject to customary conditions, according to Martin.
Martin also noted that the deal is not subject to any kinds of monetary conditions and that he has spoken with many investment banks to aid him in this non-binding deal. He said in his letter that in the case of Kanye's acceptance of the offer, both Martin and Kanye will proceed to a private "no-shop" period in which they will complete a definitive deal for a period of nearly two weeks.
The rapper was anticipated to unveil his album "The life of Pablo" at Madison square Garden in New York on February 11, 2016. However, Martin claims that his offer will slow down the release date for few days.
According to USA TODAY, the offer amount is nearly five times the net amount that Martin paid for "Once Upon A Time in Shaolin" by Wu-Tang Clan. It seems that Martin needs some entertainment as he is currently 'out of job' amid the court hearing on fraud charges. USA TODAY said that Benjamin Brafman denied commenting on the album offer. An artist from Long Island charged Martin and others for using his art on the album by Wu-Tang Clan, reports said.
Last month, the IRS filed a tax lien against Martin Shkreli alleging him of owing tax amount of $3,431.85 and $4,625,496.70 from 2103 and 2014 respectively, Mail Online said. According to the document, the tax amount remains unpaid despite the demand made by the IRS officials for the payment. Martin is said to owe over $4.5 million in unpaid taxes to the government.
Martin's failure to pay the taxes resulted in favour of the government having rights on all properties belonging to Martin, the taxpayer, for the money he owes as taxes. The notice, which was set on December 18, was issued on January 11. Meanwhile, the New York state needs him to whoop up $2.7 million.
Martin Shkreli, despite facing a number of challenges, is willing to entertain himself with Kanye's music. But, there seems to be no immediate response from Kanye, who is still busy in releasing the album.
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