Martin Shkreli, aka Pharma Bro, is a pharmaceutical executive and entrepreneur from the United States who is currently serving a prison sentence for securities fraud. MSMB Capital Management, Turin Pharmaceuticals, and Retrophin are all companies he co-founded. Despite being dubbed “America’s most hated man,” the majority of his wealth is still in his possession today.
What is Martin Shkreli’s net worth
Shkreli has an estimated net worth of $70 million, but his net worth has reportedly dropped to $8 million following his conviction, according to Celebrity Net Worth.
Following the recent decision in his case, it is unclear what it will be.
The majority of his net worth stemmed from his ownership of Turin Pharmaceuticals.
Full Name – Martin Shkreli
Birth Date – March 17, 1983
Birth Place – New York City, U. S.
Profession – Entrepreneur, a convicted felon
Ex-girlfriend – Christie Smythe
Net Worth – $70 million
Shkreli was born on March 17, 1983, in New York City. His parents were janitors when they immigrated to the United States from Albania and Croatia. He grew up in Sheepshead Bay, Brooklyn, with his two sisters in a working-class neighbourhood.
His interest in stocks began as a child while playing chess with a neighbour. And, at the age of 12, he purchased his first stock shares in the technology company Compaq. He invested in Amazon when he was 15 years old.
Shkreli attended Hunter College High School, but it is unclear whether he graduated from there. Martin received his high school diploma credits from City-As-School High School.
Martin began working as an intern at Wall Street hedge fund Cramer, Berkowitz, and Company when he was 16 years old, after graduating from high school. He predicted that Regeneron Pharmaceuticals’ stock price would fall while working there.
His prediction proved correct, attracting the attention of the Securities and Exchange Commission. After four years as an associate, he went on to work as a financial analyst at Intrepid Capital Management and UBS Wealth Management.
His first hedge fund, Elea Capital Management, was established in 2006. In 2009, he founded MSMB Capital Management and began shorting biotech stocks. After two years, he founded Retrophin, a company that develops medicines for rare diseases, in 2011.
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Martin Shkreli was in a relationship with Christie Smythe, a former Bloomberg News reporter. Christie, his alleged girlfriend, was the one who broke the news of his arrest in 2015. Smythe agreed to be in a relationship with Martin, claiming that they were life partners. Smythe also stated that she had broken up with him in October 2021 and is now only friends with him.
Why is he called ‘Pharma Bro’?
Shkreli previously managed hedge funds for Elea Capital, MSMB Capital Management, and MSMB Healthcare.
He is also the co-founder and former CEO of the biotechnology firm Retrophin, as well as the founder and former CEO of Turing Pharmaceuticals.
Shkreli, dubbed “Pharma Bro” by the media, was chastised when Turing obtained the manufacturing licence for the Aids drug Daraprim.
In August 2015, he increased the prices by nearly 5,000 percent overnight.
Where is Martin Shkreli now?
Shkreli, 38, is still serving the last year of his seven-year prison sentence at a low-security facility in Allenwood, Pennsylvania. According to the Associated Press, on January 14, 2022, a judge ordered him to return $64.6 million in profits he and his former company made when raising the price of Daraprim.
Shkreli was also barred from working in the pharmaceutical industry for the rest of his life by U.S. District Judge Denise Cote.
This is not Shkreli’s first bad day in court; in January 2021, a judge denied Shkreli’s second request to be released from prison early.
In her ruling, U.S. District Judge Kiyo Matsumoto stated that Shkreli had failed to demonstrate extraordinary and compelling factors that would warrant his early release, and that because he is a “relatively young and healthy man,” he is not at high risk of serious injuries if infected with the virus.
Shkreli will be released on September 13, 2023.