Ken Griffin beat ConstitutionDAO at auction for Constitution

In the battle for the Constitution, the traditionalists defeated the insurgents.

Ken Griffin, chief executive of the Citadel hedge fund, won an auction for a rare original copy of the U.S. Constitution, Sotheby’s, the auction’s host, said on Friday. He beat out a group of cryptocurrency fans known as the ConstitutionDAO, whose offer sparked a frenzy of memes, jokes and financial promises. But in the end, they couldn’t beat Mr. Griffin’s $ 43.2 million offer.

The winning bid was more than double the initially estimated $ 20 million for the item. Sotheby’s said the sale set a record for a book, manuscript, historical document or printed text.

“The US Constitution is a sacred document which enshrines the rights of every American and of all who aspire to be,” Griffin said in a statement. “That is why I intend to make this copy of our Constitution available to all Americans and visitors so that they can view and enjoy it in our museums and other public spaces.”

The first museum to display this copy of the Constitution will be the Crystal Bridges Museum of American Art in Bentonville, Ark., Which was founded by Walmart heiress Alice Walton.

“We are honored to exhibit one of the most important documents in the history of our country from our location in the heart of America,” said museum board chairperson Olivia Walton in a statement. communicated.

Mr. Griffin, who has a net worth of around $ 21 billion, according to Forbes, is used to breaking records. He broke a real estate record in 2019 when he closed his purchase of a Manhattan penthouse at 220 Central Park South for $ 238 million.

He also raised concerns about the cryptocurrency. “I’m afraid some of that passion has been misplaced when it comes to cryptocurrencies,” he told New York Times reporter Andrew Ross Sorkin. at the DealBook conference earlier this month.

Kevin roose contributed reports.


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