YouTuber Logan Paul cashes in $16.5 million for his Pokemon card. It's vindication for the 'armchair quarterbacks yelling from the sidelines,' he says | Fortune

"The YouTuber turned social media mogul and entrepreneur turned heads in 2022 when he paid $5.3 million for a single Pokémon card-an ultra-rare Pikachu Illustrator-making it the most expensive ever sold at a private sale. But Paul didn't stash it away in a vault. He wore the card in a diamond-encrusted chain to major events, including into the WWE wrestling ring, turning a niche collectible into a piece of performance art-and personal branding. On Sunday night, the gamble paid off."

"Paul sold the card for a whopping $16,492,000 at auction, including buyer's fees, setting a new record for the most expensive trading card ever sold. The buyer was AJ Scaramucci, venture capitalist and son of former White House communications director Anthony Scaramucci. The final price was about a 212% return on Paul's investment, and for Paul, the sale is about more than money-it's about vindication."

""We're in an interesting time where everyone wants to critique, but no one wants to build," Paul told Fortune last month ahead of the sale. "They all are just armchair quarterbacks yelling from the sidelines while there are doers out there who are creating, making, building, establishing, and I am that person." Logan, alongside his brother Jake, has spent years attempting to evolve their images from YouTubers known for pranks into serious entrepreneurs and investors. The pair now collaborate in the venture capital space, and both boast nine-figure net worths."

Gen Z investors are pursuing unconventional assets that serve as status symbols and sometimes careers. Logan Paul purchased an ultra-rare Pokémon Pikachu Illustrator card for $5.3 million in 2022 and publicly wore it as a diamond-encrusted chain at major events. Paul sold the card at auction for $16,492,000, including buyer's fees, to AJ Scaramucci, setting a record for trading-card sales and realizing roughly a 212% return. The sale functioned as both financial gain and personal vindication tied to branding. Logan and his brother Jake have shifted toward entrepreneurship and venture investing with nine-figure net worths, while Pokémon cards and other alternative assets have surged in value.

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