Martin Shkreli Career and Net Worth
Martin Shkreli Career and Net Worth, What is Martin shkreli’s IQ? as well as other worth-reading facts are presented eloquently in this article.
Martin Shkreli is an Albanian American entrepreneur, hedge fund manager and convicted felon. He has a net worth of $0 million. During his hay days, he had a net worth running into about $70 million. A chunk of that wealth came from his stake in the company he formed, Turing Pharmaceuticals.
Martin Shkreli Early Life
Martin Shkreli was born on March 17, 1983 in Brooklyn, New York. Martin and his siblings were brought up in a working class family and setting in Brooklyn. His parents worked as janitors after they moved to the United States. He went to Hunter College High School dropping out before his final year.
Martin managed to finish his diploma via alternative learning high school City-As-School High School. Martin later landed a job at Jim Cramer’s Wall Street hedge fund at the age of 17. Martin went to Baruch College and finished with a bachelor’s degree in business administration in 2004.
Martin Shkreli Finance Career
Martin has his internship at the hedge fund Cramer, Berkowitz and Company. He suggested short-selling the stock of a biotech company known as Regeneron which was testing a weight-loss drug. The company gained when the company’s stocks dropped just as predicted by Martin.
It took even the SEC by surprise as to how he could predict accurately the drop in the value of the Regeneron. Their investigation found that Martin had no insider knowledge. After a four year stint with Cramer Berkowitz as both an intern and an associate, Martin left to work as financial analyst for two large investment banks. What is Martin shkreli’s IQ? Martin has an IQ score of 129.
Martin set up his own hedge fund Elea Capital Management. He was sued in New York court by Lehman Brothers the following year on the grounds that Martin failed to repay Lehman Brothers after he made a wrong bet.
Martin lost $2.3 million in judgment in October 2007 to the bank. Luckily for Martin, the bank went under before it could collect the judgment debt. Martin launched MSMB Capital Management in 2009.
Martin Shkreli Turing Pharmaceuticals
Martin set up a company in 2011 called Retrophin to make biotech investments. His focus was on biotech companies but this time the ones that created treatments for rare ailments.
Martin was removed by Retrophin’s board with a $65 million law suit filed against Martin claiming inter alia that he “committed stock-trading irregularities as well as other violations.
Martin Shkreli Tax Issues
Martin was served with a $1.26 tax warrant in unpaid taxes by the New York State Department of taxation and Finance in December 2016.
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