People with too much money

I just heard that a guy named Ronald Lauder (heir to the Estee Lauder cosmetics fortune) paid $135 million for a Gustav Klimt painting. Now, I think Klimt did some nice work and all, but how on earth can a painting be worth $135 million? I know... supply and demand, whatever the market will bear, etc. But to put this in perspective, right now the federal minimum wage in the U.S. is $5.15. So someone can legally work a 2,000-hour work year and earn $10,300 in gross pay. If you deduct the 6.5% payroll tax plus 3.5% in state and local income tax, you end up with $9,270 in net wages per year. 14,564 of these workers would need to pool their incomes over an entire year in order to amass enough money to buy this Klimt painting.

By the way, Wikipedia has this photograph of Klimt holding a cat. Awww...