The Picasso painting that hotel mogul Steve Wynn famously ripped is back in the news after billionaire hedge funder Steve Cohen bought it for a whopping $155 million, The New York Post reports.
The painting, “Le Rêve,” wound up with a 6-inch tear after Wynn accidentally put his elbow through it while showing it off to friends at his Las Vegas office.
But he’s not the only mogul who has destroyed a very expensive toy.
These gaffes, some of which cost their owners millions of dollars, include crashing a spaceship, high-priced car accidents, and homes that are no longer standing.
A spaceship funded by Amazon CEO Jeff Bezos crashed during a test flight in early September 2011. People on the ground lost contact with the craft and were unable to control it during the flight.
Bezos' big dream is to develop a practical means of space tourism. Seems his first venture didn't go so well.
Australian mining billionaire Clive Palmer, who became famous when he announced plans to build an exact replica of the Titanic, nearly sank his own private yacht.
The $5.3 million 'Maximus' reportedly lost power and came close to colliding with a rock wall off the coast of Queensland, according to the Daily Telegraph.
After a flare was fired, the passengers put on life jackets and the yacht was towed to a nearby marina.
What's a man to do if his car breaks down?
Well, if he's a Chinese millionaire known only as Mr. Han, he destroys it. Han was fed up with his Lamborghini Gallardo breaking down, so he paid workers to take sledgehammers to the luxury car, according to The Wall Street Journal.
In March, 2011, about nine workers ganged up on the car, which costs about $205,905 by the way, in Qingdao city in Shandong province.
Music mogul Richard Branson caused his speedboat the Virgin Atlantic Challenger to capsize in the Atlantic in 1985. Branson was attempting the fastest-ever Atlantic crossing at the time of the incident.
While no one knows for sure what caused the maritime accident, the weather wasn't the best and the boat developed a fuel leak, according the BBC.
Branson's tropical getaway Necker Island also burned down during Hurricane Irene.
On his recent trip to Israel, President Obama's armoured limo broke down after it was wrongly filled with diesel instead of gasoline.
The vehicle, known as 'The Beast,' would not start at Ben-Gurion Airport in Tel Aviv, and another presidential limousine was flown in as a replacement, the Times of Israel reported.
Wynn, the CEO of Wynn Resorts, had recently agreed to sell the painting to hedge funder Steve A. Cohen for $139 million, when he got too close to the canvas and put his elbow through it.
He received a $45 million insurance payment, and just successfully sold the work to Cohen for $155 million, according to the New York Post.
The former 'Two and a Half Men' star's car went over a cliff in California. But, apparently, Sheen wasn't in it, according to CBS.
The Mercedes was allegedly stolen from Sheen's Sherman Oaks home in 2010 and later found overturned in the bottom of the ravine.
A single tank of fuel for his nearly $100 million yacht costs more almost $165,000. So after spending money on the wrong type of fuel, Abramovich had to pay to clean out his engine, an expensive process.
A luxury boat in China, rumoured to have cost $2.67 million to build, sank as soon as it touched water in 2011, ChinaSmack reported.
A minister of transportation for Lanzhou, the city that reportedly commission the boat, blamed the incident on faulty work by the builders.
A man, described by Forbes only as a tycoon, decided it would be a good idea to use a deep fryer, which was designed to cook whole turkeys, to make a single chicken breast.
He left the deep fryer in the basement of his mansion while he went to walk the dog, and lo and behold, came back to a fire that caused more than $1 million in losses.
Hedge fund manager David Tepper was the owner of a beautiful Hamptons mansion that included a tennis court, views of the ocean, and a swimming pool.
But apparently it just wasn't up to his standards. Tepper is in the process of tearing down the palatial pad to build an even bigger one. The new 11,268 square-foot-house is being built over the natural dunes in order to improve Tepper's view of the ocean and will include a new sunken tennis court.
Authorities believed Parli was intoxicated when his McLaren SLR side-swiped another car in Switzerland. However, Parli allegedly kept right on driving and hit another car. When he eventually stopped, Parli reportedly yelled ''I'm a millionaire, I'll pay for everything I don't care.'
Keith Punler, a Scottish tycoon who is one of the country's most successful businessmen, crashed his helicopter into a lake in Scotland after receiving a call that beloved $34,000 boat had been stolen, The Daily Record reported.
Punler was trying to land on his private helipad in 2010 when he was distracted by Loch Long in Argyll, causing his helicopter to clip the water and flip.
Fortunately, he survived the incident and the boat was recovered.
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