Because they're rich.
It may seem like a ludicrous sum of money for a BMW M5, but this model – which sold for a cool $700,000 – was the last of 30 special edition M5 "30 Jahre" models slated for the US out of 300 built worldwide. It was auctioned off at Barrett Jackson's Scottsdale sale, and its new owner is none other than Rick Hendrick, who also picked up the first ever Corvette Z06 Convertible to add to his awesome collection. Proceeds of the M5 sale went to BMW Car Club of America's Foundation and the "Street Survival" safe driving program for teenage drivers.
Nascar team owner Hendrick revealed the car will be placed alongside his BMW i8 of the same color in his museum that holds over 200 cars. Finished in Individual Frozen Dark Silver paint, the 30th anniversary M5 is based on the M5 Competition and comes with a revised 4.4-liter twin-turbo V8 rated at 592 hp and 516 lb-ft of torque. Power is sent to the rear wheels via the M5's seven-speed dual clutch, albeit one with new software mapping. The result is a 0-62 mph sprint time of 3.9 seconds and a top speed limited to 199 mph when combined with the optional M Driver's Package. The black interior comes swathed in Merino leather, Alcantara, aluminum trim and special badging.