Martin Shkreli Net Worth

Who is Martin Shkreli?

Martin Shkreli (@wagieeacc), known as "Pharma Bro," is an American entrepreneur and former hedge fund manager at MSMB Capital Management. Born on April 1, 1983, in Brooklyn, New York, he co-founded the biotechnology company Retrophin and founded Turing Pharmaceuticals. Shkreli earned a business degree from Baruch College before his ventures in the pharmaceutical industry brought him to prominence.

Shkreli gained notoriety in 2015 when Turing Pharmaceuticals raised the price of the life-saving drug Daraprim from $13.50 to $750 per pill, sparking public outrage. In 2017, he was convicted of securities fraud related to his hedge fund activities and sentenced to seven years in prison. He was also fined $64.6 million and banned for life from the pharmaceutical industry, significantly reducing his net worth and tarnishing his reputation.

‍

What is Martin Shkreli’s Net Worth?

Martin Shkreli's net worth is estimated to be around $27 million, a significant decrease from his previous $90 million. This decline is primarily due to a $64.6 million civil penalty imposed after a lawsuit by the Federal Trade Commission and seven states, which found Shkreli guilty of anticompetitive practices in the pharmaceutical industry.

Additionally, his net worth has been affected by unpaid taxes and court-ordered forfeitures. Shkreli is also permanently banned from the pharmaceutical industry and barred from serving as an officer or director of any publicly traded company.

‍

What is Martin Shkreli Doing Now?

Martin Shkreli is currently engaging with online audiences through regular live streams on YouTube (@realmartinshkreli), where he shares his insights and experiences in investing and trading stocks and crypto assets. His digital presence enables him to stay relevant and share market insights, utilizing the attention from his controversial past to engage viewers.

In addition, Shkreli launched Dr. Gupta AI, an AI-driven chatbot designed to make healthcare consultations more accessible. This initiative uses advanced AI to replicate doctor-patient interactions, providing medical advice and information to a broader audience, thus aiming to democratize healthcare services.

‍

Martin Shkreli DJT Controversy

Recent revelations have linked Martin Shkreli to the DJT token, a cryptocurrency initially rumored to have connections with former President Donald Trump. Blockchain investigator ZachXBT provided conclusive evidence of Shkreli's involvement, securing a $150,000 reward from Arkham Intelligence. Shkreli has claimed that Barron Trump, son of Donald Trump, was involved in the token's creation, though this remains unverified.

Shkreli's assertions regarding the DJT token have sparked considerable controversy, with some alleging that his actions could violate parole terms.

‍

What did Martin Shkreli do with the Wutang Album?

In 2015, Martin Shkreli bought the exclusive copy of Wu-Tang Clan's album "Once Upon a Time in Shaolin" for $2 million. He occasionally shared snippets but never fully released the album. In 2018, following his conviction for securities fraud, a federal court mandated the forfeiture of the album.

The U.S. government seized and sold it in July 2021 to partially fulfill Shkreli's financial penalties, though the buyer and the sale price were not disclosed.

‍

Bottom Line

Martin Shkreli, known as "Pharma Bro," saw his net worth plummet from $90 million to $27 million due to legal penalties and bans from the pharmaceutical industry. Despite these setbacks, he remains active online, sharing financial insights and launching new ventures, continuing to stir public interest and controversy.