Business, Politics, US

How rich is Martin Shkreli?

Name: Martin Shkreli

Born: March 17, 1983

Occupation: Entrepreneur and investor

Martin Shkreli, fair use
Martin Shkreli, fair use

Martin Shkreli was born in Brooklyn, New York on March 17, 1983. He is the son of Eastern European immigrants, who worked as janitors, and has three siblings. Martin grew up in a Catholic household.

Martin attended Hunter College High School, but he exited the school in his senior year – he was able to earn the required credits to get his diploma by interning at a Wall Street firm. He later earned a bachelor’s degree in business administration from Baruch College in 2004.

Not much is known about Martin’s relationship history, but there have been multiple reports in the media of women going on Tinder dates with the so-called Pharma Bro.

In his youth, he worked at Cramer, Berkowitz and Company, helping the company profit from short-selling a biotech stock. Martin was successful again at short-selling a weight loss drug.

Following his four-year stint at the Cramer Berkowitz, Martin served as financial analyst for Intrepid Management and UBS Wealth Management. Later, Martin launched Elea Capital Management, a hedge fund firm, and MSMB Capital Management. In 2011, Martin established Retrophin, a portfolio business that focused on biotechnology, but he was ousted by the board.

Four years later, Martin founded Turing Pharmaceuticals, which had a business strategy of searching for out out-of-patent medicines and then re-examine their pricing. This is where the controversy began for Martin: he purchased Daraprim, a drug that essentially treats patients who have toxoplasmosis, which is AIDS-related and AIDS-unrelated, and hiked the price of one dose from $13.50 to $750 per pill. He received widespread condemnation from the likes of Senator Bernie Sanders, former Secretary of State Hillary Clinton and President Donald Trump.

Martin also acquired a majority stake in KaloBios Pharmaceuticals, but the firm dismissed him as CEO and the company soon after filed for Chapter 11 bankruptcy.

Because of the controversy surrounding Martin, his personal life has been extensively covered by a wide array of media outlets. They have reported that he enjoys video games, has an immense affinity for rap music and teaches people about finance and chemistry. He is politically active, donating $2,700 to Sanders’s presidential campaign – Martin conceded that he agrees with most of the socialist senator’s political positions.

We estimate that Martin Shkreli’s net worth is $50 million (2017).

So how much is $50 million really?

$50 million can purchase various private American collector editions. $50 million can also cover the cost of fighting a wide variety of lawsuits by the government.


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