ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Man hoped he'd be a millionaire after rare meteorite hits his home. But now, he lives in fear instead

Inititally, reports claimed that it sold for $1.8 million which changed as the the dust cleared up.
PUBLISHED OCT 5, 2024
Representative cover image | Getty Images | Oscar Sánchez Photography
Representative cover image | Getty Images | Oscar Sánchez Photography

An Indonesian man supposedly became an instant millionaire after a meteorite crashed through his roof.  A humble coffin maker Josua Hutagalung was working next to his house when the metorite smashed into his living room. While initial reports suggested that the space rock sold for $1.8 million, the BBC later found that the number was a result of miscalculation and the actual amount may not be even close to a million dollars. Following the massive media attention and misreporting, Hutagalung had to spend his days in fear for his life while fending off interview requests.



 

Hutagalung, who lived in a village in Sumatra, was minding his own business when he heard a noise followed by a loud crash coming from his house. He mustered up the courage to go look and found a large unknown object had crashed through his metal roofing and buried itself deep in the floor. 

Representative image | Getty Images | Stock photo
Representative image | Getty Images | Stock photo

He told BBC's Indonesian service that when he found the rock it was still warm, which made him think that it was from outer space. Hutagalung then dug up the boulder which weighed about 4.4lb (2kg). 

Since it wasn't a normal occurrence, Hutagalung took to social media to share pictures of the rock, which is when the news began to travel beyond his village and across borders. 

Several collectors got interested but due to COVID-19 restrictions, nobody could get down to Indonesia. Some got in touch with US meteorite enthusiast Jared Collins, who was living in Indonesia.

Representative image | Getty Images | Stock photo
Representative image | Getty Images | Stock photo

He met Josua and authenticated the boulder. Soon the space rock and some other pieces of it were sold to a buyer in the US for an undisclosed amount. Some pieces even landed on eBay in the US which triggered speculation over the sale. 

As per the BBC, the $1.8 million estimate came from a miscalculation of the value based on prices put up on eBay. The asking price for a 0.3g rock was $285 and the price for a bigger rock that weighed 33.68g was $29,120. Thus, the average price per gram comes out to be $860. This multiplied by the total weight of the larger boulder gives the estimate of $1.8 million. 



 

"When I read that figure, I had to laugh," Laurence Garvie, a research professor at the School of Earth and Space Exploration at Arizona State University, told the BBC. The expert shared that no collector would pay that much for a meteorite and it may sell in the thousands but definitely not in millions. 

Josua initially told the BBC’s Indonesia service that he sold the large rock for a little over $14,000. However, the intermediary, Collins did not reveal or confirm the price, which means both figures of $1.8 million and $14,000 may not be true. 

In a rare in-person interview, Hutagalung told VICE World News that he had lived in fear for his life as criminals thought he had actually become a millionaire. He shared that he spent days rejecting interview requests as well. 

Representative image | Getty Images | Stock Photo
Representative image | Getty Images | Stock Photo

“I’m afraid my child will be kidnapped because they think I’m already rich, and they will ask for ransom,” he told VICE. He said he was still living in the same home which was still normal and ordinary, indicating that he didn't get a million dollars. If he actually had the money, “I would recruit at least five security guards” for protection, he added.

MORE ON MARKET REALIST
Taylor never knew he had won because the slot machine had malfunctioned.
6 hours ago
Dwyane 'the Rock' Johnson said that his friend's actions changed the course of his life.
15 hours ago
The Texas inventor pitched a generator named after him on the third season of Shark Tank.
1 day ago
Despite putting the contestant in an awkward position the host did get the audience to laugh.
1 day ago
Although fans have admired his energy on the episode for years, Paul revealed why he wasn't too happy.
1 day ago
It took more than a decade and an amazing invention for Les Cookson to secure a deal on Shark Tank.
1 day ago
The contestant was also defended by some who said they would've made the same mistake.
2 days ago
While the item received a record-breaking appraisal, a flaw prevented its value from going higher.
2 days ago
She has starred in classic films such as "Sixteen Candles", "The Lost Boys", and "Twister".
3 days ago
What is Judy Sheindlin’s salary per episode? Here’s what we know about the TV judge and her new IMDb TV show, ‘Judy Justice.’
3 days ago
Sajak was criticized by fans on the internet but the contestant clarified that it was just for fun.
3 days ago
Danielle Perez had gone viral after talking about the awkward moment on "The Price is Right" on social media.
4 days ago
The singer also got Malone's number but is only focusing on sharing his work with him for now.
4 days ago
The incident did not bring down the woman's excitement as she kept jumping on stage.
4 days ago
The guest had no idea whose face was engraved on the top of the box and how much it cost.
5 days ago
The young entrepreneur saw a common problem kids his age faced and came up with an invention.
5 days ago
It was a gift from the father of his first client to whom he had sold a condo.
5 days ago
The singer wanted to celebrate his journey by sending fans to the place linked to his early days.
5 days ago
Wait till you hear the list of weird prizes that 'Price is Right' gave in the '50s.
6 days ago
The bottled water from the popular retailer has nanoplastic particles more than the firm's limits.
6 days ago