April 5, 2006 German audio and storage company TrekStor, has received an order from Russian-Canadian billionaire and owner of the Midland Formula 1 team, Alex Shnaider, to develop the world's most expensive MP3 player. This luxurious piece of jewelry, valued at approx. US$20,000, is cast in 750 gold and adorned with numerous diamonds and a valuable chain. The idea to develop the world's most expensive MP3 player came to Shnaider while negotiating a sponsorship deal with TrekStor CEO, Daniel Szmigiel. Shnaider was so fascinated by the i.Beat organix – a handy, 40g player with full-bodied sound and winner of eleven accolades – that he placed a special order for the unique, custom-made device on the spot.