Martin Shkreli Biography & Net Worth
|Popular Name:||Martin Shkreli|
|Birth Date:||March 17, 1983|
New York City, New York, United States
|Net Worth:||$27 Million|
|Last Updated:||December, 2020|
Martin Shkreli is an entrepreneur, stock-market analyst, and pharmaceutical executive. He is best-known as the co-founder of ‘Turing Pharmaceuticals’, the biotechnology firm ‘Retrophin,’ and the hedge fund ‘MSMB Capital Management’. Martin has also served as the chief executive officer of ‘Retrophin’ and ‘Turing.’ He was labeled the “most hated man in America” by the media after he committed business fraud while working at ‘Retrophin.’ He was heavily criticized for increasing the price of the medicine ‘Daraprim,’ manufactured by ‘Turing’. He has also gained media interest for his aggressive posts on social-media. At the moment, Martin Shkreli is serving sentence for investment fraud.
Martin Shkreli’s Early Life
He was born to Albanian–Croatian refugee couple who worked as janitors in Brooklyn, United States on March 17, 1983, and was raised in Sheepshead Bay working-class community with his brother and two sisters. He attended Sunday school.
Shkreli studied at the ‘Hunter College School’ briefly before dropping out in his junior year. He bagged a diploma which later got him a spot at the ‘Wall Street’ hedge fund ‘Cramer, Berkowitz, and Company’ as an intern.
Growing up, Martin Shkreli played chess with an older man named Marty, who eventually introduced him to biotech stocks. Soon, Martin developed interest in the stock market. He was just 12 years of age when he purchased shares of Compaq. At age 15, he invested in shares of Amazon.
Martin Shkreli’s Career
His career started when he joined the hedge fund Cramer, Berkowitz as an intern. He drew wide attention when he predicted a fall in stock price of a weight-loss drug in 2003, which was produced by Regeneron Pharmaceuticals. He served the company well and moved on to hold several leading positions in a number of companies, thanks to his intelligence and rare ability to make decisive critical innovations. He is best known as the co-founder of Turing Pharmaceuticals, the biotechnology company Retrophin, and the hedge fund MSMB Capital Management. Martin has also served as the chief executive officer of Retrophin and Turing.
In 2015, Shkreli received a lot of condemnation from the public when used his license to produce an antiparasitic drug ‘Daraprim’ for making profit, which he sold for $750 when its old price was just $13.5 per bill. Later that year he was arrested and persecuted for security fraud. Following this unpleasant development, Martin had to resign from the position of chief executive officer in Turning Pharmaceuticals, the company he co-founded.
Currently, he is serving sentence in the Metropolitan Detention Center, Brooklyn.
Awards & Achievements
Martin Shkreli has been awarded the title of ‘the most hated man in America’ by the media. Many people thinks he deserves this particular ‘award’, and it’s the only one he has to his name up till today due to the way he has handled his career. Being a very powerful individual in America, he has used his privileges and position to bully other people. Martin was officially banned from the world-famous social media platform Twitter because of his irrational behavior and statements on the website. To add to his numerous list of erring, he gained criticism when he announced to reward anyone who dared pull Hillary Clinton’s head with $5,000. Though he was forced to apologize for this by federal prosecutors, he is still hated by many for his lack of composure and unacceptable behavior.
On the Brightside, however, he was invited for a speech by Harvard University in 2017, and was permitted to travel by the judge.
In March 2015, Hunter College High School announced receiving a donation of $1,000,000 from Martin Shkreli.
His Twitter account was disabled in January 2017 after he published a series of ”tweets” with the sham claims of having dated American journalist Lauren Duca, and promoted a misleading trend in which grownups (usually pedophiles) categorize themselves as children.
In 2017, during his trials, his lawyers suggested that he had engaged in sexual relationship with former chairman of the board of directors at Retrophin, Steve Richardson.
Martin Shkreli Net Worth
Co-founder of Turing Pharmaceuticals, it is estimated that he owns shares of the company worth $30 to $50 million. Without a doubt, this man is one of the most brilliant people in America. However, he chose to follow a path of deceit to achieve fast success and it cost him a lot. If not for the evil he did, this man would have become bigger in his career, and maybe considered one of the top men in the pharmaceutical industry in the world. But instead, he has been jailed for transaction fraud.
Martin Shkreli net worth at this time is $27 million. According to his legal team, the majority of his wealth has come from his stake in Turing Pharmaceutical, a company he helped establish. He also makes millions through several other investments. His stake in Turing Pharmaceuticals was worth $50 million at one point. Sometime in 2018, a judge during his criminal trial ordered him to give up $5 million from his ETrade account and approximately $2.36 million worth of assets including an unreleased Wu-Tang Clan album and a Pablo Picasso painting. Martin was found guilty on 3 counts of securities fraud and is serving a seven-year sentence in prison at the moment.