Who is Martin Shkreli?
Martin Shkreli, born on March 17, 1983, in Brooklyn, New York, is an American entrepreneur and former pharmaceutical executive best known for his controversial actions in the pharmaceutical industry. His career began with internships at financial institutions like Cramer, Berkowitz & Co., and Intrepid Capital Management. He later became an analyst at various hedge funds, including Elea Capital Management and MSMB Capital Management, which he co-founded. In 2011, he pivoted to the pharmaceutical industry and established Retrophin (now Travere), a biopharmaceutical company.
In 2015, He founded Turing Pharmaceuticals, which soon gained notoriety when it acquired the rights to the life-saving drug Daraprim. Martin raised the price of Daraprim from $13.50 to $750 per pill overnight, sparking widespread outrage. Numerous media outlets dub him "the most hated man in America" for his role in this drug pricing scandal. After this scandalous incident, he is known as “Pharma Bro” on the internet.
His personal life has attracted attention due to his eccentric behavior and frequent use of social media. Known for his brash and unapologetic demeanor, he has engaged in various public feuds, including one with members of the hip-hop group Wu-Tang Clan. Martin's divisive public image has contributed to his notoriety and infamy.
What is Martin Shkreli Net Worth in 2023?
He has had a fluctuating net worth throughout his career due to his successful ventures and legal troubles. Before his downfall, Martin's net worth was projected to be around $70 million. However, after a series of controversies, lawsuits, and a conviction, his current net worth is significantly lower, hovering around $25 million as of 2023.
What happened to Martin Shkreli?
He gained notoriety in 2015 for drastically raising the price of the life-saving drug Daraprim by over 500%, eliciting public outrage and drawing attention to issues within the pharmaceutical industry. Despite widespread criticism, his actions were legal; unrelated to Daraprim, he was arrested in 2015 on securities fraud charges. In 2017, he was convicted on two counts of securities fraud and one count of conspiracy to commit securities fraud, stemming from his involvement in hedge funds and Retrophin. He was sentenced to seven years in prison and ordered to forfeit over $7.3 million in assets.
Martin Shkreli Social Media Platforms
If you want to follow Martin, he is available on the following social media platforms; Twitter (https://twitter.com/MartinShkreli), Instagram (https://www.instagram.com/martinshkreli15/) and TikTok (https://www.tiktok.com/@martinshkreli15).
The Bottom Line
To sum up, Martin Shkreli is a controversial figure in the pharmaceutical industry, known for his role in the Daraprim price hike scandal. His net worth peaked at $70 million in 2015, but due to various legal troubles and controversies, it decreased to an estimated $25 million in 2023.