Martin Shkreli became the most hated man in America, after raising the price of Daraprim pills.
He purchased the rights to the drug from Impax Laboratories for $55 million. After that, he increased the price from mere $13.50 a pill to a monstrous price $750 for one pill.
Daraprim used to treat parasitic infections and prevent a nervous system infection in those with HIV.
The drug also treats infections from toxoplasmosis, which can be fatal in patients also who have AIDS.
He might seem like an evil greedy person, but in his own mind Shkreli is a hero like Robin Hood, and many people believe that too.
The guy is in prison at the time of writing this article. Many people have tweeted previously in support of freeing Martin Shkreli, with the hashtag #freeshkreli.
Let’s know the net worth and the real truth behind the infamous medicine and hedge fund guy.
Martin Shkreli Net Worth
The guy is the co-founder of MSMB Capital Management and the founder of Turing Pharmaceuticals. He acquired the Daraprim drug rights under his company Turing Pharma.
He also co-founded a biotechnology firm named Retrophin LLC.
When he was sentenced to prison for 20 years, Shkreli was having $45 million in his bank account.
But according to Celebrity Net Worth, Martin Shkreli’ net worth is $70 million even while being in prison.
He is also listed under 30 age list of entrepreneurs on Forbes website.
Why and How Martin Made It to Prison
— CBS News (@CBSNews) September 14, 2017
There were eight charges against Martin Shkreli, and he was found guilty of just three. He is sentenced to prison for 20 years.
He was out on bail of $5 million until he violated the bail. Shkreli did that by posting a social media post offering $5,000 bounty to anyone who could grab him one of Hilary Clinton’s hairs while she’s on a book tour.
According to him, it was a content of satire. But the court’s opinion was different than Shkreli on this, they took the threat somewhat seriously and revoked his bail.
The judge said the offer could be taken as a solicitation of an assault. She added, “This is not protected by the First Amendment. There’s a risk that somebody may take him up on it.”
He was found guilty of defrauding his investors while raising the price of a critical drug.
Prosecutors convinced the jury of five men and seven women that Shkreli, 34, misled investors in two of his hedge funds, MSMB Capital and MSMB Healthcare.
They said Shkreli lied to get their money and then to cover up massive losses after he made a lousy stock bet.
What is Martin Shkreli Doing in Prison, His Life in Prison
He is in the Brooklyn Metropolitan Detention Center that is maximum security prison with the population of around 2,000 inmates.
Prison is filled with mafia members, terror suspects and drug smugglers. The prison is known for having harsh living conditions.
Martin Shkreli is living there as inmate #87850-053.
Some inmates live there in shackles and strip searches are conducted on every inmate at the time of entry. There are holding cells with two to twenty inmates.
He might be living in a two-man cell that has shared toilet and a shower block.
Few inmates can have access to computers but just for research and email. No use of any social media website is allowed.
Phones are available with a limited and restricted call time.
Response from Shkreli, the Inmate
A website named The Tab reached out to Shkreli in prison via letter and asked him how he is doing inside.
Martin Shkreli responded with a letter having a message, “Avoid this place.”
“College will not help you succeed in jail,” he told The Tab. “Avoid this place. You can prepare with Urban Dictionary and watching ‘Belly’ 50 times.”
He also confirmed that government had not frozen any of his assets. You can read his full response here.
He also asked for some textbooks saying the following message.
“Send me your textbooks? I guess they have to come from a bookseller, so scratch that. Scientific journal articles fresh from Scihub!”
If you want to send Shkreli any message of textbooks, here’s the address.
PO Box 329002
Brooklyn, NY 11232
After knowing this, some people are trying to put the word out on Twitter. See the following tweet.
— WineNot 💕 (@WhendowPayne) October 18, 2017
A Must Watch Interview of Martin Shkreli with Vice
Allie Conti from Vice interviewed Martin Shkreli, and it was available on January 29, 2016, on the Youtube channel of Vice.
I am going to point out few important things that he cleared in the interview.
Martin said that many Pharma companies including Pfizer don’t do much research and been making billions of dollars. They raise price all the time, and nobody says anything about it.
He said, “I love drugs and how they can help people, but I also hate companies that are kind of hypocritical, full of shit and Pfizer is a good example of a company like that.”
Like a lot of people think that Shkreli is evil, but he believes that he’s opposite of the evil.
He says that he cares a lot about the life of people. He doesn’t like most of the drug companies as he thinks they do a pretty bad job.
But I am different, he says. I would like to make a bigger fortune than I have but I am not going to do it at the expense of a human life.
We sell our drug for a $1 or $2 to the government. But we sell our drug $750 a pill to Walmart, to ExxonMobil, to all these big companies, and they pay full price.
Because fuck them, why shouldn’t they, and if I take the money and I am using it for the research about dying kids, I think, I am a hero, let alone Evil.
Shkreli means that people who really need Daraprim but cannot afford it can contact him and get it for free.
When Allie asked Martin that physicians and hospitals across the country have reported that they can’t afford to stock the drug, which causes the shortage in emergency situations.
Shkreli replied that the drug is rarely used. There are around five thousand hospitals around the US; there’s only few that gets it to begin the list with.
The most hospitals will not actually see anyone with this illness.
If you can’t afford my medicine, you know where to find me. I’ll be online; I’ll be on twitter, there’s a way to easily send me a message that says, I can’t get this drug, the price is too high, help me out, Martin.
I would race, I would run to help you. I have got nothing better to do.
Unfortunately, Martin, you are in jail now, and your twitter accounts are banned.
About doing the R&D
Martin Shkreli said that I love R & D, we spend 60% of our revenue on R & D. The average drug company spends 15 percent.
Here’s another very important thing he revealed about the drug that needs to be taken care of.
If you took Daraprim as a normal healthy person right now, you would get very sick. And I don’t see why that needs to be the case. You should be able to take the drug that doesn’t hurt you.
That’s not too much to ask, while we are making all this money. Whose responsibility it is, ours!!
You can check out the full interview video below.