Ed Bazinet, a 68-year-old American billionaire and business tycoon, was recently admitted to a psychiatric hospital after spending $20 million (approximately 1.3 billion yuan) on daily necessities at the New York International Gift Fair. He spent $1.6 million (approximately over 10 million yuan) on soap alone.
According to reports aired on February 17 by China National Radio in Beijing, what can you do with $20 million? Buy houses or cars? Some people, however, use it solely for purchasing daily necessities.
It is understood that most of the items Bazinet purchased were household goods and trivial items, including kitchenware, luxury cosmetics, and expensive textiles. A designer present at the fair said: "When he bought things, he just said, 'Give me a thousand of this, give me a thousand of that.'"
Bazinet, from Minnesota, once owned a company mainly dealing in craft decorations. In the 1990s, he sold his company for $270 million (approximately 1.7 billion yuan). Bazinet's lifestyle has been very luxurious; his residence is worth $28 million (approximately 1.8 billion yuan), spans five floors, and has 19 rooms. He also owns over a thousand bottles of fine wine, his own plane, and more.
Bazinet's friends were deeply concerned about his abnormal mental state and thus had him admitted to a psychiatric hospital. After examination by doctors at the hospital, he was diagnosed with mania and bipolar disorder. According to his friends, in January, Bazinet also spent $39.4 million (approximately 2.5 billion yuan) in a similar setting in Paris.
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