What is Martin Shkreli Net Worth in 2020? Details of His Earnings, Pharmaceuticals, Lawsuit!
Learn about the net worth details of the former hedge fund manager and convicted felon Martin Shkreli.
Martin Shkreli, mainly known by the name 'Pharma Boy' in the media is a former hedge manager and convicted felon. He is the co-founder of the hedge funds Elea Capital, MSMB Capital Management, and MSMB Healthcare. Similarly, he is also the co-founder and former chief executive officer (CEO) of the pharmaceutical firms Retrophin and Turing Pharmaceuticals, which are now Vyera Pharmaceuticals.
Furthermore, Martin Shkreli is also the former CEO of start-up software company Gödel Systems which he founded in August 2016. As a former chief executive of some big companies, he might have made a lot of money during his career. With that information, a majority of his followers also seem to be curious regarding his net worth so ahead we've brought you with all the details of his staggering fortune, let's find out.
What is Martin Shkreli Net Worth in 2020?
According to Celebrity Net Worth, Martin Shkreli holds an estimated net worth of $70 million, as of December 2020. He made this amount of fortune working as chief executive officers of some well-known pharmaceutical companies. The majority of his net worth comes from his stake in Turin Pharmaceuticals, the company he launched.
Martin Shkreli holds an estimated net worth of $70 million, as of December 2020.
Source: Los Angeles Times
Martin Shkreli's stake in Turin Pharmaceuticals used to be worth $50 million at one point. By March of 2018, Martin Shkreli's net worth dropped to $8 million.
At the point, a judge in his criminal trial ordered him to forfeit $5 million from his ETrade account and $2.36 million worth of other assets, including a Pablo Picasso painting and an unreleased Wu-Tang Clan album.
According to The Guardian, Martin Shkreli came into the media limelight after he acquired a drug used for the treatment of aids and cancer patients called Daraprim.
The 37 years old increased the price of the one pill of the drug from $13.50 to $750. The move was spotlighted by presidential candidate Hillary Clinton at the time. Subsequently, he was summoned to testify before Congress.
Martin Shkreli Paid $7.4 Million in Fines
In 2017, Martin Shkreli was charged and convicted of conspiracy to commit securities fraud and was sentenced to seven years in federal prison. Also, he was forced to pay up to $7.4 million in fines, as per The Sun.
After getting convicted of securities fraud, Martin Shkreli was forced to pay up to $7.4 million in fines, in addition to a seven-year prison sentence.
Martin Shkreli was also the former hedge fund manager for Elea Capital, MSMB Capital Management, and MSMB Healthcare. He is also the co-founder and former chief executive officer of the biotechnology firm Retrophin and founder and former CEO of Turing Pharmaceuticals.
As per Independent, Martin Shkreli is continuing running his pharmaceutical company from prison via a contraband smartphone. Even though he remains in federal prison, he is continuing to run the drug company Phoenixus AG, which he believes will grow to be worth $3.7 billion by the time he is released.