In a notable development, the U.S. Department of Justice (DOJ) has finally disclosed the sale price for the legendary Wu-Tang Clan album “Once Upon a Time in Shaolin” after a lengthy four-year Freedom of Information Act (FOIA) battle. The album, which gained notoriety for its unique status as a one-of-a-kind art piece, was seized from Martin Shkreli, the controversial pharmaceutical executive, and hedge fund manager, following his conviction for securities fraud.
The revelation comes from investigative journalist Jason Leopold, who has been relentless in uncovering the details surrounding the album’s sale. Initially sold to Shkreli in 2015 for approximately $2 million, “Once Upon a Time in Shaolin” was intended to be a unique artistic statement, stored in a custom nickel-silver box and accompanied by a 175-page leather-bound lyric book. The buyer was prohibited from duplicating or commercially releasing the album for 88 years—until 2103.
Shkreli, infamously known as “Pharma Bro” for drastically increasing the price of a life-saving drug, was convicted in 2017 and sentenced to seven years in prison, along with a $75,000 fine and the forfeiture of $7.4 million in assets. Following his conviction, the government seized the album in 2018 to satisfy the outstanding balance of his forfeiture judgment.
In July 2021, the U.S. Attorney’s office announced that the album had been sold, but the sale price remained confidential due to a clause in the sale contract protecting information regarding the buyer and the price. This led Leopold to file a FOIA request seeking clarity on the sale terms, photographs, and any communications regarding the album.
In October 2021, it was revealed by The New York Times that the collective PleasrDAO had purchased the album for “the equivalent of $4 million in a cryptocurrency tied to the dollar.” This acquisition occurred through an intermediary, but the DOJ still maintained the confidentiality of the sale price, citing “trade secrets.”
Leopold’s pursuit of transparency led him to sue the DOJ to compel the release of the sale documents. After three years, the DOJ finally unredacted the details, revealing that “Once Upon a Time in Shaolin” was sold for $2,238,482.30—the exact amount owed by Shkreli to the government.
The corporate entity responsible for the purchase was identified as WTC Endeavours Limited, incorporated in Hong Kong in May 2020 and dissolved in March 2023. Despite PleasrDAO’s involvement, the DOJ clarified that it was not connected to either the corporate buyer or the individual who purchased the album.
Additionally, the album’s legal journey continued as PleasrDAO filed a lawsuit against Shkreli, claiming he had retained unauthorized copies of the album. A federal judge ordered Shkreli to turn over all copies of “Once Upon a Time in Shaolin” and the names of anyone he had gifted or sold it to. Under the same restrictions originally placed on Shkreli, PleasrDAO cannot stream or duplicate the album until 2103. They have, however, created a non-fungible token (NFT) version that allows fans to listen to a five-minute sampler for a small fee, with each sale accelerating the album’s release by 88 seconds.
Leopold’s persistent efforts highlight the challenges and intricacies involved in accessing government-held information, particularly regarding high-profile cases. His work not only sheds light on the sale of a culturally significant album but also raises important questions about transparency and accountability in government dealings.
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