Canadian-born international entrepreneur Miles Spencer Nadal made headlines this week when he acquired 100 pairs of the world’s rarest sneakers for more than $1 million.
Nadal spent $850,000 on the first 99 pairs of highly coveted sneakers at a July 17 auction by Sotheby’s and Stadium Goods. Selected from Stadium Good’s “Trophy Case,” the shoes included exclusive shoes from Adidas, Nike, Yeezy and more.
On Tuesday, he bought the 100th pair for a whopping $437,500, half the price of the first 99. The pricey pair was the 1972 Nike Waffle Racing Flat “Moon Shoe,” originally created for the U.S. Olympic Trials. The “Moon Shoe” is the most expensive shoe ever sold at auction, handily beating the 2017 record set when a pair of signed Converse sneakers, believed to have been worn by Michael Jordan at the 1984 Olympic Finals, went for $190,373.
Below, five things to know about the sneaker collector behind the big purchases:
- He also collects cars. Nadal has acquired more than 40 motorcycles and 140 cars. On display in a private, 94,000 square-foot facility, the cars range from a Karl Benz Motorwagen from 1886 to a 1995 Mercedes-Benz 300 SL Gullwing. In addition to the vehicles, Nadal also has automobile and racing artifacts, collectibles and antiques.
- He works in finance. Nadal is the founder and executive chairman at Peerage Capital, a private investment firm that manages over $8 billion in assets. Over a 39-year career in business, Nadal has created $6 billion worth of enterprises across several industries and organizations.
- He loves art and sneaker culture. “I have always been an avid enthusiast and appreciator of unique art and collectibles that represent innovative design, exceptional craftsmanship, and new and exciting trends in pop culture,” he said in a release, adding: “I think sneaker culture and collecting is on the verge of a breakout moment.”
- He’s involved in philanthropy. Nadal founded Dare to Dream, a multifaceted philanthropic initiative with the mission of supporting community-based organizations, health care research and fundraising, child welfare facilities and higher education development. He also serves as director of the Miles Nadal Jewish Community Centre and is a fundraiser and donor for Mount Sinai Hospital.
- He’s putting the sneakers in a museum. Nadal plans to put all the sneakers on display in Toronto at his Dare to Dream Automobile Museum, a private museum displaying classic cars. Nadal will share the collection with friends, family and charitable organizations, upon request.
Below, check out J Balvin’s sneaker collection.
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