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Meet Herbert Wertheim, the Billionaire Who Paid $40M for Ferrari’s First EV

Herbert Wertheim bought Ferrari’s first Luce for $40 million at Monterey, adding another record-setting car to his charitable purchases.

At Monterey Car Week in California last weekend, Ferrari auctioned its first-ever Ferrari Luce. The white-on-white electric vehicle, designated VIN 0, had been expected to sell for about $1.1 million. Instead, Herbert Wertheim, an 87-year-old Florida billionaire, paid $40 million for the Jony Ive-designed car—reportedly setting a record for the highest price paid for a new car at auction.

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The Luce, unveiled in May amid a wave of controversy, has drawn polarized reactions from Ferrari fans, customers and former company leaders. The debut even caused an 8 percent decline in Ferrari’s share price.

But the hubbub didn’t seem to faze Wertheim, who, according to The Wall Street Journal, “has a flair for patterned loafers and wears a signature red fedora.” The Journal also reported that Wertheim has been granted special permission to wear his red hat indoors at........

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