Richard Sackler, born in 1945, is an American businessman and physician who served as the chairman and president of Purdue Pharma, the company responsible for developing the highly addictive painkiller OxyContin.
If you are aware of the man and the kind of controversies he has been part of, then you likely know that he is a billionaire but his identity has been well concealed out of the media speculations and exposure.
Have you wanted to explore more about Richard Sackler’s net worth and the kind of life he has built for himself? We will discuss more on that in this guide.
Early Life
Richard Sackler was birth in Roslyn, New York on March 10, 1945, to his parents, Raymond and Beverly. Surprisingly, Richard stems from the prospect of old money because his father, Raymond was an establishment businessman himself.
It was Raymond alongside his brothers who took over Purdue Pharmaceuticals and developed it to the heights of enormous success. Seeing the kind of opportunities that were shared in Richard’s way, it makes sense that he decided to follow in his father’s footsteps and acquire a degree in business.
Richard completed his high school education and then acquired a Bachelor’s degree from Columbia University initially, followed by an MD from New York University School of Medicine.
Career
In 1971, Richard Sackler joined Purdue Pharma, following in his father’s footsteps. He quickly rose through the ranks, holding key positions in research and development, as well as marketing. During this time, Sackler had an important role to play in the development and aggressive marketing of OxyContin, a powerful opioid painkiller.
Purdue Pharma heavily marketed OxyContin as a revolutionary pain medication with minimal risk of addiction. However, critics argue that the company downplayed the drug’s addictive potential and misled healthcare professionals about its safety. This aggressive marketing strategy, coupled with lax regulations, is widely believed to have contributed significantly to the opioid crisis in the United States.
As the opioid epidemic worsened, Purdue Pharma faced mounting scrutiny and legal challenges. Numerous lawsuits accused the company and the Sackler family of misleading marketing practices and contributing to the public health crisis. In 2019, Purdue Pharma filed for bankruptcy, amidst the ongoing legal battles.
Personal Life
Sackler married Beth Sackler, with whom he had three children. However, the couple later divorced. Details about his personal life remain largely private, overshadowed by the controversies surrounding his professional career. There seems to be a lot of controversies related to the reasons why Richard’s identity and details about his personal life are not available so publicly on the media.
Net Worth
Estimating Richard Sackler’s net worth at this point is impossible and quite out of reach. The common sources suggest his net worth to be around $1 billion. However, there are rumors that the numbers could be a lot less than what’s being projected because of the legal battles and the asset seizures that he has experienced along the way. To think that he might be a billionaire won’t be farfetched though.
