One of the most coveted modern Ferraris ever built, which sold for $26 million during RM Sotheby’s Monterey Car Week sale to make it the most expensive contemporary car ever auctioned, was bought by a self-made American billionaire renowned for making shrewd investments and his generous philanthropy. His record-breaking bid will go to the Ferrari Foundation, funding education and rebuilding projects.
The man behind the purchase? Herbert ‘Herbie’ Wertheim, whose life story reads like an American epic. Known to friends as “Dr. Herbie,” Wertheim – who always wears a bright-red fedora – is an optometrist, inventor, philanthropist, and investing legend estimated to be worth up to $5 billion, depending on his charitable donations.
Part of Ferrari’s exclusive Icona Series, the Daytona SP3 was limited to 599 examples worldwide, but this one-off ‘Tailor Made’ commission stunned the automotive world – chassis ‘599+1,’ finished in a striking two-tone carbon-fiber and Giallo Modena livery. With delivery mileage and an unprecedented level of personalization, the car commanded a price higher than many seven-figure classics.
From Troubled Youth to Visionary Inventor
Born in Philadelphia at the end of the Great Depression, Wertheim ran away from home as a teenager, working odd jobs like picking oranges in Florida and even living with Seminole Indians in the Everglades. At 16, he stood before a judge on truancy charges and was given a choice: State reformatory or military service. He chose the U.S. Navy at 17, a decision that reshaped his life.
While serving in naval aviation during the Cold War, Wertheim began investing. His first stock purchase, Lear Jet, came from his Navy stipend, and he went on to meet aviation pioneer Bill Lear in person. That early exposure to technology and industry ignited a lifelong passion.
After the Navy, Wertheim studied physics and chemistry, worked as a NASA engineer at Cape Canaveral, and eventually earned a scholarship to study optometry. In 1969, he invented an eyeglass tint for plastic lenses that filtered harmful UV rays, helping prevent cataracts.
By 1970, he founded Brain Power Inc. (BPI), which went on to hold more than 100 patents and copyrights in optical technology.
A Billionaire Who Played the Long Game
Unlike Silicon Valley moguls or Wall Street icons, Wertheim’s fortune didn’t come from a single IPO windfall. Instead, he built it patiently through decades of disciplined investing. He bought and held shares of companies like Apple, Microsoft, GE, Google, BP, and Bank of America long before they became household names, according to Forbes.
His single greatest investment remains Heico, an aerospace parts manufacturer. Wertheim purchased a stake in 1992, worth about $5 million at the time. Today, his position exceeds $800 million, making him Heico’s largest individual shareholder.
A Life of Luxury, Purpose, and Giving
Wertheim’s portfolio afforded him an enviable lifestyle, and he has been described as one of the most successful individual investors of his generation. Yet his wealth is balanced by philanthropy. Having donated more than $100 million to Florida’s public universities, Wertheim also signed Bill Gates and Warren Buffett’s ‘Giving Pledge’, committing to donate at least half his fortune – most of it toward education.
The Ferrari Collector’s Dream
The purchase of the Ferrari Daytona SP3 ‘599+1’ is more than just a collector’s trophy for Wertheim. It represents the same vision that defined his investments: spotting timeless innovation and believing in the value of rarity and craftsmanship, and donating his wealth to education and rebuilding projects.
Like his stock portfolio, the Ferrari is built on the principle that some creations – whether a transformative technology or a bespoke supercar – transcend market cycles. For collectors, it is yet another reminder that at Monterey Car Week, history isn’t just celebrated – it’s bought and driven home.
Images Source: RM Sotheby’s, Ferrari