Sometimes, we watch creators on YouTube, not even realizing what they are up to behind the scenes. That’s exactly what happened with Martin Shkreli. While he is popularly known as “Pharma Bro”, things took a tumble for the worse when the entrepreneur and popular YouTuber was convicted of committing security fraud.
Martin is a famous entrepreneur; stock market analyst and he is also pharma executive. However, his name became a household name when he was arrested for committing securities fraud.
This article will explore everything that you need to know about Martin Shkreli, his early life, career, and net worth.
Contents
| Full Name | Martin Shkreli |
| Birth Date | March 17, 1983 |
| Age | 40 |
| Country of Origin | Albania |
| Nationality | American |
| Profession | Entrepreneur, Stock Market Analyst |
| Marital Status | Unmarried |
| Parent’s Name | Unknown |
| Girlfriend | Christie Smythe |
| Social Media Accounts: | Facebook |
| Net Worth (as of 2024) | $70 million |
| Last Updated: | July 06, 2024 |
Martin was born on March 17, 1983. He was born in Coney Island Hospital in a multi-cultural family. Both his parents were U.S immigrants, who worked as janitors to make ends meet. Martin grew up in Brooklyn.
He has three siblings – two sisters and one brother. They didn’t grow up in a well-to-do or rich family but in a hard-working family where both his parents work to provide for their family and put food on the table.
What’s surprising about Martin was his inclination towards the stock market. You might be surprised to know but he bought his first shares when he was 12 and later in 15. He attended Hunter College High School but didn’t complete his school education.
With a passion in his heart, Martin dropped out of school and started working at Cramer, Berkowitz as an intern. During that period, he was the first to pinpoint the downfall of Regeneron Pharmaceuticals, and surprisingly, that ended up happening.
Seeing the potential in him, Martin was appointed as a financial analyst and he worked at Intrepid Capital Management and UBS Wealth Management.
However, after four years of working as a financial analyst, Martin knew that he wanted to do more. That’s when he launched his first hedge fund. It was named Elea Capital. He went on to establish MSMB Capital Management next.
By 2009, Martin was working with multiple brands and companies. However, during that time, he was also in the process of working on biotech equities. Gaining enough knowledge, Martin launched his company, Retrophin. The main objective behind the company was to manufacture medications for very rare diseases.
Martin was dating Christie Smythe during the time of his conviction and it was later reported that it was Christie who broke the news. Martin was convicted of conducting fraud using his company Turin Pharmaceuticals.
He was convicted of conducting security frauds and conspiracies too when he suddenly increased the price of AIDS drugs in his company.
Martin Shkreli faced serious legal problems starting in December 2015 when the FBI arrested him for securities fraud in New York. He was accused of running schemes at two companies, MSMB Capital Management and Retrophin, that resembled Ponzi schemes.
Shkreli argued he was targeted because of his controversial price hikes for the drug Daraprim. In his 2017 trial, he claimed no investors lost money and therefore he didn’t commit a crime. Despite being found not guilty on some charges, he was convicted of securities fraud and conspiracy on others.
In March 2018, Shkreli received a seven-year prison sentence, which he appealed but failed to overturn in 2019. He also had to forfeit more than $7.3 million.
As of present reports, Martin has an estimated net worth of $70 million. The majority of his income is derived from his businesses, including Turin Pharma, which was the company that ended up landing him in jail.
During the conviction, Martin’s share in the company came down to $8 million, which was originally $50 million. Following how much happened; Martin now lives a very low-key life.
There have been a lot of controversies surrounding Martin’s current whereabouts. Rumors suggest that following his release from prison, he is now working with a law firm where he earns around $2500 per month and lives with his sister.
Before his conviction, Martin Shkreli’s net worth was around $70 million. However, following his conviction, it has now come down to $0.
Following his conviction, Shkreli has acquired a lot of pushback. According to the reports, he currently earns around $2500 per month with his job.
Pets are cute but have you wondered how great of an experience it would be…
Did you ever think that we’d come across a game that combines the power of…
Snake game is probably one of the first games that we learned to play on…
If you are a fan of platform games and have been wondering how you can…
Do you like playing pastime games now and then, especially when you are in the…
Battle Royale games are in trend these days. After PUBG, Garena Free Fire is probably…