Who Is Martin Shkreli
Martin Shkreli is a former hedge fund manager and pharmaceutical executive known for founding Turing Pharmaceuticals and Retrophin. He gained notoriety for acquiring the rights to Daraprim and raising its price from $13.50 to $750 per tablet in 2015. His actions triggered widespread public backlash and regulatory scrutiny over drug pricing practices. He is currently serving a federal prison sentence following multiple convictions. More details are available on the SEC enforcement page regarding his case SEC press release on Shkreli.
Shkreli was born in 1983 and started his career at Wall Street firms before launching his own investment funds. He founded the biotechnology company Retrophin in 2011 and later Turing Pharmaceuticals in 2015. His management style and public statements made him one of the most recognized figures in modern finance and healthcare debates. He was arrested in 2015 and convicted in 2017 on securities fraud charges related to his hedge funds. Forbes has covered his rise and fall extensively Forbes profile on Shkreli.
Martin Shkreli Net Worth and Legal Convictions
Shkreli Net Worth and Assets
Martin Shkreli's net worth has been widely reported as significantly reduced due to legal penalties and asset forfeitures. Before his convictions, estimates placed his wealth in the tens of millions, largely tied to his stakes in Turing Pharmaceuticals and Retrophin. Following his sentencing, the U.S. government seized assets including rare Wu-Tang Clan albums and other property to satisfy restitution and fines. His current financial standing reflects the impact of court-ordered disgorgement and legal fees. The latest asset forfeiture details are documented by federal court records DOJ press release on Shkreli sentencing.
Securities Fraud Conviction Details
Shkreli was convicted in December 2017 on two counts of securities fraud and one count of conspiracy to commit securities fraud. The charges related to misleading investors in his hedge funds, MSMB Capital and MSMB Healthcare, while he was running them from 2009 to 2014. He was sentenced to seven years in federal prison and ordered to forfeit nearly $7.4 million. Prosecutors described his conduct as a scheme to fund his failing companies by defrauding investors. The conviction was upheld on appeal, and he was released from prison in 2022 after serving part of his sentence CourtListener docket for Shkreli appeal.
Martin Shkreli Companies and Career
Turing Pharmaceuticals and Daraprim
Turing Pharmaceuticals, founded by Shkreli in 2015, acquired the rights to Daraprim, a decades-old antiparasitic drug used to treat toxoplasmosis. The company raised the price of a single tablet from $13.50 to $750, drawing intense criticism from patients, lawmakers, and the medical community. Shkreli defended the increase by citing the need to fund research and improve the drug's formulation, but regulators and competitors questioned the justification