87-Year-Old Apple Investor Buys First Ferrari EV for $40M in Charity Auction

Key points

• Herbert Wertheim paid $40 million for Chassis 0, the first production unit of Ferrari's Luce, at a charity auction in Monterey, California.
• The hammer price was 36 times the $1.1 million pre-sale estimate, with all proceeds directed to the Ferrari Foundation's educational programs.
• The Luce is Ferrari's first fully electric production car, featuring a 1,036-hp powertrain, 329-mile range, and a top speed of 193 mph.
• The vehicle's design was developed in partnership with LoveFrom, the creative studio founded by former Apple design chief Jony Ive and Marc Newson.
• Wertheim, who bought Apple shares at its 1980 IPO and held 1.25 million shares worth $195 million by 2019, is known for long-term investment strategies.

Background

The Luce was unveiled in May 2026, marking Ferrari's entry into the electric vehicle market. This followed earlier reports of Jony Ive's involvement with OpenAI hardware projects and Apple's strategic decisions regarding Ive in trade-secret litigation. The car's launch initially sparked market skepticism and a drop in Ferrari's stock price due to concerns over brand identity and design aesthetics.

How outlets are covering it

Luxurylaunches and The Times of India emphasize the symbolic connection between Wertheim's long-term Apple investment and the Luce's design by Jony Ive, framing the purchase as a convergence of tech and automotive history. CNBC and BBC focus on the market implications, noting that the auction defied earlier negative reactions to the Luce's launch, which had seen Ferrari shares drop due to 'design hate' and concerns about the brand's shift to electric power. While Luxurylaunches highlights the bespoke nature of Chassis 0, including its unique paint finish, BBC and CNBC stress the record-breaking nature of the sale and the philanthropic aspect, with Sotheby's not initially naming the buyer.

Why it matters

The sale demonstrates the enduring value of long-term investment strategies and the high demand for bespoke, design-led luxury vehicles. It also signals a shift in market perception regarding Ferrari's electric vehicles, moving from initial skepticism to record-breaking collector interest, potentially influencing the trajectory of luxury EV adoption.

What to watch

Ferrari is expected to continue its EV strategy, with the Luce's strong auction performance potentially bolstering confidence in its electric lineup. Wertheim's continued holding of Apple shares and his interest in design-driven products may influence future investments in technology and automotive sectors. The proceeds from the auction will support the Ferrari Foundation's educational initiatives.