Carlyle’s Rubenstein Pays $21M For Magna Carta Copy

Dec 19 2007 | 3:28pm ET

A modern-day buyout baron has bought a 710-year-old copy of the Magna Carta, one of the most important documents in the history of democracy.

David Rubenstein's Magna Carta: courtesy Sotheby'sMagna Carta: courtesy Sotheby'sCarlyle Group founder David Rubenstein won the auction for the priceless artifact for $21.3 million, below the $30 million the document had been expected to garner. The Perot Foundation, which has owned the copy for more than 20 years, auctioned it at Sotheby’s in New York yesterday.

Magna Carta, which Sotheby’s vice chairman David Redden called “the most important document in the world, the birth certificate of freedom,” was forced upon England’s King John by his barons in 1215, which strictly limited the monarch’s power and is credited with giving birth to both constitutional democracy and the common law.

Rubenstein’s copy, which dates not from 1215 but 1297, had been housed at the National Archives in Washington, D.C., from 1988 until earlier this year. Rubenstein said he plans to reinstall the Magna Carta at the National Archives. It is one of only 17 extant “original” copies of the document.

“I thought it was very important that the Magna Carta stay in the U.S.,” Rubenstein told the New York Post. “I feared it would escape and go to another country.”


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

The yield curve and stock market response

Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.