The Bay Psalm Book

In line with the season of shopping and giving, serial philanthropist David M. Rubenstein crossed another item off his "patriotic philanthropy" to-do list this week. The co-founder of the Carlyle Group, Forbes magazine's 209th richest American, bought a staggering $14.2 million for a duplicate of the Bay Psalm Book, thought to have been the first hardbound book printed in what then turned into the United States.

The Bay Psalm Book was published in 1640 in Cambridge, Massachusetts, and is one of just 11 surviving copies, making it one of the most sought-after publications in the world. It is also the most costly at the moment. Rubenstein, 64, submitted his offer Tuesday by phone from Australia, where he has been soliciting assets for his private equity business, which distributes the cash on behalf of its customers. He said that he will loan the book to many libraries on a rotating basis.

"I believed it was critical to keep this legendary American manuscript in the country, and I believed I could educate more Americans about its importance — and the relevance of writings to our country — by displaying it in libraries across the country that wouldn't otherwise have the opportunity to showcase something so old and rare," Rubenstein explained.

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Price at launch: $14.2 million

Transcribed by: Richard Mather