The guy who received the “Most hated man in The United States of America” award, Martin Shkreli, aka ‘Pharma Bro’ is spending his seven years of sentence in Jail on the charges of investment/ stock fraud.
Martin Shkreli the businessman who has co-founded several biotech and pharmaceutical companies is best known for causing the largest spike in the cost of life-saving anti-parasitic drug Daraprimfrom $13 to $750 dollars overnight.
In 2018, he got convicted for being a fraud. So, what is the current net worth of this notorious businessman Martin Shkreli? Here is everything we know about him.
|Birthday||March 17, 1983|
|Age||37 Years old|
|Net Worth||$27.1 million|
|Education||Baruch College, Hunter College High School|
Who is Martin Shkreli?
Martin Shkreli is an American businessman born in New York on March 17, 1983. This 37-year-old was born to Albanian and Croatian parents who immigrated to the USA from Montenegro. Martin was born and raised in a poor family with his three siblings and his parents used to work as Janitors.
He is a former Hedge funds manager. He is the co-founder of MSMB Capital Management, MSMB Healthcare, and the former CEO of a biotech firm, Retrophin. He is also the former founder and CEO of Turing Pharmaceuticals.
Martin Shkreli Education
Martin attended Hunter College High School and after gaining sufficient credits he did an internship at the Wall Street Hedge fund when he was 17. He later attended Baruch College and graduated with Bachelor’s in Business Administration in 2005.
He was much more tilted to playing chess and electric guitar rather than his education.
Who is Martin Shkreli’s Wife?
Martin Shkreli is not married to anyone as of 2020. Despite being rich and successful in business, he has not been successful in his love life. There is no information about his girlfriend also.
Martin Shkreli Net Worth in 2020
On the basis of court filings leading up to his sentences, the net worth of Martin Shkreli in 2020 is estimated to be around $27.1 million dollars.
When he was convicted in 2018, the judge had ordered him to forfeit almost $7.4 million dollars and if he could not pay the amount then his valuable assets like Pablo Picasso’s painting, his unreleased at that time and unique Wu-Tang clan (worth $2 million) and Lil Wayne album, as well as his pharmaceutical shares would be sealed.
He also paid the restitution amount of $388,000 to the investors. So before getting convicted he had even more assets and a higher net worth value which was around $70 million dollars according to several reports.
Why is Martin Shkreli In Jail?
In 2015, Martin was subpoenaed to appear before the judge to explain his reasons for causing the price hike of the Daraprim from $13 to $750 overnight, but he followed his attorney’s advice to take his fifth amendment rights and remained silent.
The FBI arrested Martin Shkreli in December 2015 on the charges of securities fraud. He was accused of engaging in multiple schemes to ensnare investors into the web of lies and deceit.
He defended that none of the investors had actually lost the money but it was difficult to find an unbiased lawyer and Jury because of his extremely negative public reputation. Many people hated him for making the drug Daraprim unaffordable. That drug was originally an antiparasitic and antimalarial drug but it was also useful for AIDS patients.
In 2017, he was found guilty of securities fraud and got sentenced to jail for seven years.
Is Martin Shkreli Getting Released?
Martin had recently requested an early release for at least three months on April 22, 2020. According to him, the industry response to COVID-!9 is inadequate and biopharmaceutical companies should be well prepared in order to combat this health emergency.
He also mentioned that being a successful two-time biopharma entrepreneur in the past and having tons of new drugs formulated and applied for clinical trials, he is one of the few executives that are experienced in all aspects of drug development. However, the judge denied his request and he is still in Jail.