 |
Martin ShkreliAmerican entrepreneur
Date of Birth: 01.04.1983
Country:  USA |
Content:
- Martin Shkreli: The "Most Hated Man in America"
- Wall Street Career
- Founding MSMB Capital Management and Retrophin
- Controversial Acquisition of Daraprim
- Arrest and Criminal Charges
- Interest in Esports and Music
- Purchase of Wu-Tang Clan Album
- Legacy
Martin Shkreli: The "Most Hated Man in America"
Early Life and EducationMartin Shkreli was born on April 1, 1983, to Albanian and Croatian immigrant parents who worked as janitors. He grew up with two sisters and a brother in a working-class community in Brooklyn, New York. He graduated high school in 2000 and went on to earn a business management degree from Baruch College in 2004.
Wall Street Career
At the age of 17, while interning at Cramer, Berkowitz & Co., Shkreli convinced the firm to short several biotechnology stocks, predicting a decline in their assets. The hedge fund made significant profits, catching the attention of the Securities and Exchange Commission, which investigated but found no wrongdoing. Shkreli subsequently worked as an analyst at Intrepid Capital Management and UBS Wealth Management before establishing his first hedge fund, Elea Capital Management, in 2006.
Founding MSMB Capital Management and Retrophin
In September 2009, Shkreli founded the hedge fund MSMB Capital Management. In 2011, he filed petitions with the US Food and Drug Administration (FDA) to delay the launch of Navidea Biopharmaceuticals' cancer diagnostic device and MannKind's inhaled insulin. The FDA ultimately approved both products, but Shkreli's actions created controversy. In the same year, he founded Retrophin Inc., a company focused on developing treatments for rare diseases.
Controversial Acquisition of Daraprim
In August 2015, Shkreli's pharmaceutical company, Turing Pharmaceuticals AG, acquired the patent for Daraprim, a drug used to treat HIV patients. He immediately raised the price of the drug by 5500%, from $13.50 to $750 per tablet. The move sparked public outrage, with Shkreli being dubbed "the most hated man in America" by several publications.
Arrest and Criminal Charges
On December 17, 2015, Shkreli was arrested by the Federal Bureau of Investigation on charges of securities fraud, with the Justice Department alleging that he engaged in a "scheme to deceive investors through a pattern of lies and deceit."
Interest in Esports and Music
Shkreli is an avid gamer and is known to play "League of Legends" under the username "Imagine Cerebral." He expressed interest in purchasing an esports team in 2014, but his $1.2 million offer to the team Enemy was rejected. He eventually founded his own team, Odyssey, which competed in the North American Challenger Series in 2015. Odyssey merged with Imagine in August 2015, with Shkreli leading the combined team.
In November 2015, Shkreli began hosting live streams on YouTube, showcasing archived gameplay footage and offering financial advice.
Purchase of Wu-Tang Clan Album
In November 2015, Shkreli purchased the sole copy of the Wu-Tang Clan album "Once Upon a Time in Shaolin" for $2 million at an auction. The album had been intended to be kept secret until 2103, but Shkreli released several snippets online, sparking controversy.
Legacy
Martin Shkreli's rise and fall has left a lasting mark on the worlds of finance, pharmaceuticals, and esports. His aggressive business tactics, controversial price increases, and flamboyant personality have made him a polarizing figure, inciting both admiration and condemnation.
