Ecclestone is a controversial British business magnate and one of the most powerful people in the world of Formula One (F1) racing. Briefly a racer, he gave up the sport after several accidents but later returned as a manager and team owner. In the 1970s, he secured his position in the F1 organization by negotiating TV broadcasting rights, vastly increasing the sport’s popularity. In 2004, the billionaire’s home became the most expensive ever sold when a steel magnate bought it for how much? Discuss