Innovation in Paleontology: Billionaire's Purchase of Stegosaurus Fossil at Sotheby's

A virtually complete Stegosaurus fossil was on display at Sotheby 's on July 10 , 2024 , in New York City . Billionaire investor Ken Griffin , founder and CEO of hedge fund Citadel , made headlines by purchasing a late Jurassic stegosaurus skeleton for a whopping 4.6 million at the auction house . This sale marked the most valuable fossil ever sold at auction , showcasing the immense interest in prehistoric specimens.

The stegosaurus , named " Apex , " is estimated to be around 150 million years old and stands 11 feet tall , measuring nearly 27 feet long from nose to tail . It is a nearly complete skeleton with 254 fossil bone elements , making it a rare and exceptional find . Apex was initially expected to sell for about million , but the final bid far exceeded this estimate , demonstrating the strong demand for such artifacts.

Griffin emerged victorious in a 15 - minute bidding war with six other participants during the live auction in New York . He expressed his intention to loan the stegosaurus to a U.S. institution , emphasizing the importance of keeping the specimen within the country . Apex , excavated in Moffat County , Colorado , shows no signs of combat - related injuries or post - mortem scavenging , according to Sotheby's.

The sale of the stegosaurus fossil for 4.6 million broke the existing record for the highest price paid for a fossil at auction . This extraordinary amount , more than 10 times the low estimate , reflects the escalating market for prehistoric specimens . The fossil , nicknamed Apex due to its exceptional quality , attracted significant attention from seven bidders worldwide , highlighting the ongoing interest in paleontological discoveries.

Kenneth Griffin , the hedge fund billionaire known for his philanthropic contributions to dinosaur exhibits , emerged as the winning bidder for the stegosaurus . Griffin 's previous donations to the Field Museum in Chicago , including funding for a touchable cast of the largest dinosaur ever discovered , demonstrate his passion for paleontology . The high price of the stegosaurus fossil raises concerns among paleontologists that escalating prices could hinder scientific research by pricing scientists out of the market.