Martin Shkreli is an American entrepreneur, hedge fund manager, and a condemned felon. In addition to this, he was the founder and ex-chief executive officer of Turing Pharmaceuticals, co-founder of MSMB Healthcare and MSMB Capital Management, and also the co-initiator and CEO of Retrophin.
He is mostly known for the criticism for raising the price of antiparasitic drugs. This led him to be tagged as “the most hated person in America.” Let’s find out more about how much is the net worth of Martin Shkreli in 2018.
Early life and Biography
Martin Shkreli was born in New York. Though his date of birth is unsure as according to Vanity Fair, he was born on 1st April 1983, but Martin did an online celebration of his 33rd birthday on 17 March. His parents are Croatian and Albanian. He is a follower of Christianity. He grew up in a working-class family with his two sisters and one brother.
Martin went to Hunter College High School. However, as he was not interested in studies, he dropped out before receiving the degree. Still, he gained some sufficient credits which were essential for the diploma course. This gave him an opportunity to do an internship from Wall Street hedge fund Cramer, Berkowitz, and Company. Later, in 2005, he did his Bachelor’s in Business Administration from New York’s Baruch College. Martin Shkreli developed an interest in chemistry while one of his family members was suffering from severe depression.
Martin Shkreli has never been in a good or appreciable relationship with his girlfriends. He is a kind of an obnoxious person. Recently, his ex-girlfriend Katie received very indecorous messages from Martin. She could not resist herself from sharing it on her blog.
Apart from this, he has been adjourned from Twitter, as he was continuously spreading rumors by tweeting about dating the journalist, Lauren Duca. Also, he was posting many photoshopped photos of her. Apart from this, he has been involved in many criminal acts like fraud, and penalties.
Career, Awards, and Nominations
While he was 19 years old, Martin Shkreli caught the attention of the Securities and Exchange Commission of Cramer, Berkowitz & Company. After they get into profit because of Martin’s prediction to drop the Regeneron Pharmaceuticals stock price. Martin spent four years as an associate at CBC, then he went to Intrepid Capital Management and UBS Wealth Management and served as a financial analyst.
In 2006, he started his first hedge fund, Elea Capital Management where Martin Shkreli did much wrongdoing during bets. Lehman Brothers won legal action of $2.3 million against Martin Shkreli and Elea. However, unfortunately, Lehman Brothers collapsed before it could do anything.
In 2009, Martin initiated MSMB Capital Management with Marek Biestek (his childhood friend). In 2011, Martin found another company, Retrophin under the MSMB umbrella and ran it as a finance company.
The year 2015 was quite worse for Martin Shkreli as he was lambasted for hiking the price of drugs while working in Turing Pharmaceuticals. He resigned from Turing because of the nation’s hate. Soon afterward, he joined the KaloBios Pharmaceuticals as a CEO. However, at the end of 2015 the company terminated him because of his imprisonment. Martin Shkreli was nominated for the “Dive Awards for Biopharma Industry” in 2016.
Net Worth & Earnings:
As of 2018, Martin’s total estimated net worth is $27.1 million. Martin’s primary source of income is Turin Pharmaceuticals $50 million. His net worth had dropped to $8 million by March 2018, because of many illegal acts he did. He spends his wealth by buying unreleased albums worth millions of dollars. In 2014, Martin was interested in purchasing an esports team worth of $1.2 million but was refused. He owned the rights from Impax Laboratories to the medicine for $55 million, but unfortunately, he misused the rights.
Martin Shkreli is one of the wealthiest businessmen of America. He is also known as a “Pharma Bro.” Due to his many controversies and money minded behavior, people mostly see him with hateful eyes. Despite all this, Martin never refrained from donations. He always gave charity with an open heart. Whether it was for an orphanage or his old school, he proffered dollars in thousands to millions.