Martin Shkreli net worth: Albanian American hedge fund manager and entrepreneur, Martin Shkreli has a net worth of $100 million.
Born on April 1, 1983 Martin Shkreli started working at Cramer, Bekowitz, & Co. for Jim Cramer and started learning about healthcare business while at Intrepid Capital Management. He founded MSMB Capital Management in 2009 and Turing Pharmaceuticals AG.
The co-founder of Retrophin LLC, a biotechnology firm in 2011, Shkreli grew his business in health care industry by increasing the prices of drugs in US. He obtained manufacturing license of several life-saving medicines, including pyrimethamine, and rose its prices, even upto 5000% to make money.
Martin Shkreli was fired from Retrophin’s Board while a lawsuit of $65 million was cased against him after breaching his duties of royalty. He then moved to raising price of Daraprim from $13.50 per pill to $750 per pill – a 5,455% increase while also purchased the rights to the drug for $55 million from Impax Laboratories.
Considered the world’s most hated man in 2015, Marin Shkreli is just in his thirties and his bizarre business strategy has brought him a lot of negative-fame. His company Turing Pharmaceuticals is surely going to get rich off of the medicines they produce for rare diseases, but the entire biotech industry is put in an uncomfortable position by this man.
With his company worth over $500 million, Shkreli is considered one of the worst CEO’s in biotech industry. His net worth is currently estimated to be around $100 million.