Herbert "Herbie" Wertheim, an optometrist and founder of Brain Power Inc., purchased the custom Ferrari Luce supercar during Monterey Car Week.

The 87-year-old investor's winning bid, which initially was kept under wraps by Sotheby's auction house, was 36 times higher than the car's pre-sale estimate and set an absolute record for a new car sold at auction.

Controversial Design by Ex-Apple Designer

Ferrari's new electric car was designed by Sir Jony Ive, Apple’s former chief creative guru, and his business partner Marc Newson.

The vehicle is positioned as a transport with "uncompromising performance, emotional engagement, and spaciousness."

However, when the model was first unveiled in May, it faced a wave of ridicule and a drop in the company's stock price. One of the brand's former top executives even called the novelty an "aesthetic and technological insult."

Nevertheless, Wertheim's bid hints that the new model might still have a promising market — the standard commercial version of the supercar is expected to retail for around €550,000.

Philanthropy and a Passion for Fast Cars

The billionaire philanthropist, often spotted wearing a bright red fedora hat, has a soft spot for fast cars. At the very same event last year, he purchased an exclusive Ferrari Daytona SP3 supercar for $26 million.

All proceeds from both auctions were directed to The Ferrari Foundation, which supports educational initiatives.

According to Forbes, Wertheim's net worth is estimated at $4.9 billion, and he is well-known for his incredible life story and investment success:

• In his youth, he suffered from dyslexia, struggled in school, and grew up in a disadvantaged environment.

• At age 16, facing trouble over school attendance, he was given a choice by a judge and agreed to enlist in the U.S. Navy, which he credits with turning his life around.

• Later, Wertheim founded Brain Power Inc., manufacturing optical tints for eyeglasses, and eventually evolved into a successful investor and philanthropist.

In 1977, he established the Wertheim Family Foundation, which funds the construction of churches, zoos, libraries, and research centers, while also supporting educational scholarships and the arts.

In 2011, the Horatio Alger Association named him a "Distinguished American."

"Waking up every morning and doing what you want to do is success. Money doesn't make you happy," the association quoted Wertheim as saying. "Money just gives you more choices. If you dictate how you spend your day instead of someone else dictating it for you, I call that success."