What is Martin Shkreli’s net worth?
Martin Shkreli is a successful businessman, hedge fund manager, and convicted felon of Albanian descent who is worth $0. Martin Shkreli’s fortune peaked at $70 million at its height. Martin’s own lawyers claim that the bulk of his fortune comes from his own position in his own startup, Turing Pharmaceuticals.
Shkreli’s activities as CEO of Turing garnered him widespread condemnation and the derisive moniker “Pharma Bro” in 2015. In that year, the firm purchased the patent for Darapri, a drug used to treat HIV.
Daraprim has been widely available and inexpensive for many years before Turing bought it. Before Turing, the cost of a single Daraprim tablet was $13.50. Turing promptly raised the price of each pill to $750 after acquiring the rights to do so.
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Shkreli was arrested in 2017, accused of two charges of securities fraud, and ultimately found guilty of one count of conspiracy to commit securities fraud in federal court. The accusations have nothing to do with his conduct using Daraprim.
His seven-year federal jail term began in March of this year. A judge in his criminal prosecution has now ordered him to surrender $2.36 million in assets, including a Picasso painting and an unreleased Wu-Tang Clan record, as well as $5 million from his ETrade account. According to reports, Martin had no further assets after paying for his legal defense.
Martin was forced to refund the $64.6 million in earnings he made from price-gouging Daraprim and was prohibited from ever working in the pharmaceutical industry in January 2022.
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