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Meet the man who sold his Ferrari 250 GTO for a record $48 million

We all took notice back in August when a 1962 Ferrari 250 GTO sold at RM Sotheby's in Monterey, bringing a record price for a car at auction: $48.4 million. The man who benefited — both from the proceeds and from his 18 years owning one of the rarest, most desirable cars in the world, chatted recently with Seattle Times columnist Nicole Brodeur about what it was like to say goodbye to such a beautiful machine — and how he's able to console himself with a serious collection of other fine cars. Despite the car, the third of 36, being "one of the most significant Ferraris ever built, bar none," in Sotheby's words, Brodeur says Whitten regularly toodled around in it in Redmond, Wash. — to lunch, on errands, to car shows — Redmond being a place where you do see an awful lot of incredible daily drivers streaming into the Microsoft campus. Whitten, now chairman of Numerix, a financial software company, was one of Microsoft's earliest employees, hired in 1979 by the late Paul Allen himself. He describes what it was like to be sitting on the front row at Monterey when the gavel came down. Even for a multimillionaire, multimillions being thrown around by three bidders for a single car is "very hard to fathom," he told CNBC. "But you're in a space where you have car collectors, and Ferraris are the most collectible car, and the GTO is the pinnacle Ferrari." "I miss it a little bit," Whitten says. But the world is full of wonderful cars, and an awful lot of them are tucked away in his warehouse. Plus, Whitten spent more than $2 million on the same night the GTO sold, picking up another Ferrari and three vintage Jaguars, including a 1967 E-Type as a birthday present for his wife, Michelle. In the column, he reflects on his beginnings as a driver — as an 11-year-old wheelman helping his brother deliver newspapers in their parents' station wagon. And on being a broke mathematics doctorate whose first car was a Dodge Dart. And on the beginnings of his collection when the Microsoft millions kicked in; on purchasing a 1935 ERA 1.5L Grand Prix racer from a Thai princess; and that time he hit 174 mph on an airport runway. Here's the column, if you'd like to learn more about a guy who sounds like he's had a pretty great life. And below are two videos put out by Sotheby's ahead of the auction. In the first, Whitten drives the Ferrari, talks about his love of cars — and you get a glimpse of his collection. The second video describes the car's considerable provenance.

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

Chief justice invokes 'Ferris Bueller' Ferrari in Supreme Court car case

WASHINGTON — U.S. Supreme Court justices on Tuesday wrestled with the scope of police authority to search vehicles without warrants, with Chief Justice John Roberts referencing the shiny red Ferrari taken for a joyride in the 1986 comedy film "Ferris Bueller's Day Off" to make a serious legal point. The justices heard arguments in two cases in which convicted defendants are seeking to have key evidence against them thrown out because it was obtained by police officers through vehicle searches conducted without a court-issued warrant. One case involved a stolen motorcycle that was covered by a tarpaulin and parked on private property next to a house in Charlottesville, Virginia. The other involved a rental car stopped by police in Pennsylvania — driven by a man who was not named on the agreement with the rental agency — in which heroin was found. At issue is whether police in the two cases violated the U.S. Constitution's Fourth Amendment, which protects against unreasonable searches and seizures. In the motorcycle case, Roberts and other justices seemed concerned about issuing a broad ruling in favor of law enforcement that would let police officers not just inspect the immediate area outside a property without a warrant but also potentially inside a house if a vehicle is located there. Under the Fourth Amendment, police need a warrant to search a house unless there is an emergency situation. In the case of convicted defendant Ryan Collins, the motorcycle was a few feet from the house. In "Ferris Bueller's Day Off" starring Matthew Broderick, three teenagers skip school and take a ride in a red 1963 Ferrari Modena Spyder California that was parked inside a showroom-type garage apparently attached to a house. After mentioning the film's car, Roberts asked Trevor Cox, the state of Virginia's lawyer who was defending the police search, whether he was arguing that police "can just go in" to a house without a warrant because a car is "mobile and they got it in there somehow (so) they can get it out." Roberts also mentioned comedian Jay Leno, known for storing a large collection of cars. Other justices voiced similar concerns, including Neil Gorsuch, who seemed troubled about police officers being able to search garages and other outbuildings without a warrant. "Not many people live in their garage. Some people do, some people do, and in barns, but usually they're reserved for cars and for animals.