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.
Early Life
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.
Career
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.
Personal Life
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.
Net Worth
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.
