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) alone on soap.
According to reports from China National Radio Beijing on February 17th, what can be done with $20 million? Buy houses or cars? Someone, however, chose to buy daily necessities.
It is understood that most of the items Bazinet purchased were household daily necessities and trivial items, including kitchenware, luxury cosmetics, and expensive textiles. A designer who was present at the fair said: "When he bought things, he would just say, '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 was very luxurious; his residence was worth $28 million (approximately 1.8 billion yuan), had five floors and 19 rooms. He also owned 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 admitted him to a psychiatric hospital. After examination by the hospital doctors, 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) on similar occasions in Paris.
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