Martin Shkreli Net Worth: Martin Shkreli is an American businessman and investor who has an estimated net worth of $50 million. He is the co-founder of hedge fund MSMB Capital Management as well as the founder and former CEO of Turing Pharmaceuticals. Shkreli is also the co-founder and former CEO of Retrophon LLC, which is a biotechnology firm.
About Martin Shkreli
Martin Shkreli was born on March 17, 1983 in Coney Island Hospital, Brooklyn. He raised up in an Albanian-Croatian family and attended Sunday School as a child. Shkreli then attended Hunter College High School, but dropped out before senior year due to lack of interest. He later received bachelor’s degree in business administration from New York’s Baruch College in 2004. Whilst still in college, he was given a threat to intern at Wall Street hedge fund Cramer, Berkowitz and Company.
During Shkreli’s time at Cramer, Berkowitz and Company, he was predicted the crash of Regeneron Prescription drugs stock rate on the age of 19. Shkreli’s predictions were correct and it drew the attention of the Securities and Exchange Commission, which investigated his knowledge about the stock but found no wrongdoing.
After spending 4 years as an associate with CBC, Shkreli worked as an analyst for America Wealth control and Intrepid Capital management. He then created his first hedge fund, Elea Capital Management in 2006. In 2009, Shkreli launched MSMB Capital Management with the assist of childhood friends Marek Biestek. He founded Retrophin Inc. in 2011 under the MSMB umbrella, which is a portfolio company emphasized on biotechnology, to produce treatment for rare diseases.
In September 2015, Shkreli received huge criticism for obtaining manufacturing licenses for the antiparasitic drug Daraprim and increasing its price. Shkreli was the founder and CEO of Turing Pharmaceuticals when company purchased the rights to the drug from Impax Laboratories for $55 million. He infamously hiked the price of drug Daraprim from $13.5 to $750 per pill overnight. After then Shkreli become the most hated man in the “America” and “pharma bro” according to the media.
In December 2015, Shkreli was arrested by FBI on charges of securities frauds. However, He was released after posting $5 million bail, and then resigned as CEO of Touring Pharmaceuticals, Ron Tilles replaced him.
How much is Martin Shkreli Net Worth: $50 million?
In January 2016, Fortune has estimated Shkreli’s net worth of at least $45 million. According to the CelebrityNetWorth, Shkreli net worth is around $50 million.
