Martin Shkreli is an American businessman, entrepreneur, and former hedge fund manager. He is the co-founder of the now-defunct MSMB Capital Management, and current CEO of Turing Pharmaceuticals. In September 2015, Shkreli received widespread criticism when his company raised the price of Daraprim, a life-saving drug used to treat HIV/AIDS patients, from $13.50 per tablet to $750 overnight.
His actions were widely denounced as heartless and greedy, earning him the nickname “Pharma Bro.” As of 2016, Martin Shkreli’s net worth is estimated to be $27 million.
Martin Shkreli is an American businessman and former hedge fund manager. He is the co-founder of MSMB Capital Management, a hedge fund, and the current CEO of Turing Pharmaceuticals. In 2015, he was indicted on federal charges of securities fraud.
As of 2016, his net worth is estimated to be $27.6 million.
Martin Shkreli first came to public attention in September 2015 when he raised the price of Daraprim, a life-saving drug used to treat toxoplasmosis, by 5,556% overnight. The move sparked public outrage and earned him the nickname “Pharma Bro.”
In December 2015, Shkreli was arrested and charged with securities fraud. He has pleaded not guilty to all charges and is currently out on bail. If convicted, he faces up to 20 years in prison.
Despite his legal troubles, Martin Shkreli continues to make headlines for his outrageous behavior. In January 2016, he purchased a one-of-a-kind Wu-Tang Clan album for $2 million dollars and then proceeded to taunt members of the group on social media. Most recently, he offered a $5,000 bounty for anyone who can obtain a strand of Hillary Clinton’s hair while she is on tour promoting her new book.
Where is Martin Shkreli and what is his net worth?
Martin Shkreli Release Date
Martin Shkreli, the former CEO of Turing Pharmaceuticals, was sentenced to seven years in prison on Friday for securities fraud.
Shkreli was convicted in August of 2017 of three counts of securities fraud related to two hedge funds he ran, MSMB Capital and MSMB Healthcare. He was acquitted of five other charges.
The sentencing comes nearly four years after Shkreli first gained notoriety as the “Pharma Bro” when his company raised the price of a life-saving drug by 5,000%.
Credit: fortune.com
Is Martin Shkreli Still Rich?
Yes, Martin Shkreli is still rich. As of March 2018, his net worth was estimated to be $27.1 million. This includes the $5 million bail he posted after being arrested on charges of securities fraud.
How Much Money Did Martin Shkreli Have?
Martin Shkreli is an American entrepreneur and pharmaceutical executive. He is the co-founder of the hedge fund MSMB Capital Management, and was the CEO of Retrophin, a biopharmaceutical company, from 2012 to 2014. In 2015, he founded Turing Pharmaceuticals and served as its CEO until his arrest in December of that year.
Shkreli has been dubbed “Pharma Bro” by media outlets, due to his controversial business practices and persona. In September 2015, he sparked outrage among the medical community after acquiring Daraprim—a drug used to treat toxoplasmosis—and increasing its price by 5,556% overnight. In December 2015, Shkreli was arrested on federal charges of securities fraud related to his management of two hedge funds.
He pleaded not guilty and was released on $5 million bail.
In 2016, Shkreli was convicted of two counts of securities fraud and one count of conspiracy to commit securities fraud. He faces up to 20 years in prison for each charge but will likely receive a much lighter sentence when he is sentenced in 2018.
As of 2017, Shkreli’s net worth was estimated to be $27 million.
How Many Years Did Martin Shkreli Get?
Martin Shkreli was sentenced to 7 years in prison on March 9, 2018. He had been convicted of securities fraud in August 2017.
How Much Did Martin Shkreli Pay for Daraprim?
In 2015, Martin Shkreli, then CEO of Turing Pharmaceuticals, caused public outrage when he raised the price of Daraprim (pyrimethamine), a life-saving drug used to treat toxoplasmosis, from $13.50 to $750 per pill. Turing subsequently increased the price of Daraprim even further, to $2,700 per pill.
Shkreli’s decision to increase the price of Daraprim by more than 5,000% sparked widespread criticism and led to calls for him to be ousted as CEO of Turing.
In December 2015, Shkreli was arrested on federal charges of securities fraud unrelated to Daraprim. He was later convicted and is currently serving a seven-year prison sentence.
So how much did Shkreli pay for Daraprim?
According to Securities and Exchange Commission filings, Shkreli paid $55 million for the rights to Daraprim in August 2014. Of that amount, $5 million was paid upfront and the rest was paid in installments over the next year.
Conclusion
Martin Shkreli, the former CEO of Turing Pharmaceuticals, has an estimated net worth of $27.6 million. In 2015, he came under fire for increasing the price of Daraprim, a life-saving drug used to treat toxoplasmosis, by 5,556%. He was dubbed “the most hated man in America” and was eventually ousted from his company.
In 2017, he was convicted of securities fraud and is currently serving a seven-year prison sentence.
