What an incredible two-year-old! How did he get his money, anyway?
Martin Shkreli (born April 1, 1983) is an American hedge fund manager and entrepreneur, specializing in healthcare businesses, and is a co-founder of MSMB Capital Management and the founder of Turing Pharmaceuticals AG. He is a co-founder and was the chief executive officer of Retrophin LLC, a biotechnology firm founded in 2011.[1][2] In September 2015, Shkreli was criticized when Turing Pharmaceuticals obtained the manufacturing license for Daraprim, and raised its price by 5,455 percent (from $13.50 to $750 per tablet). After initially defending the price increase, Shkreli said an unspecified lower price would be established.
Early life
Martin Shkreli, the son of Albanian and Croatian immigrants, was born in Brooklyn, New York on April 1, 1983. He grew up in a working-class community in Brooklyn. Shkreli skipped several grades in school and received a degree in business from New York's Baruch College in 2004.
Career
In 2000, Shkreli was a college intern and then clerk at
Jim Cramer's Cramer, Berkowitz, & Co.
After four years at Cramer Berkowitz, he held jobs at
UBS and Intrepid Capital Management before starting his first hedge fund, Elea Capital Management, in 2006. Shkreli launched MSMB Capital Management (named after the two founding Portfolio Managers, Martin Shkreli and Marek Biestek) in 2009.
In 2011, Shkreli filed requests with the U.S. Food and Drug Administration (FDA) to reject a new type of cancer diagnostic from the manufacturers Navidea Biopharmaceuticals and an inhalable insulin therapy for diabetes from MannKind Corporation, while publicly short-selling the companies' stocks.
Both companies' stock values immediately dropped following Shkreli's interventions, and the companies had difficulty launching the products as a result. The FDA subsequently approved both therapies.
Retrophin
Retrophin Inc. was created in 2011 and run from the offices of MSMB Capital as a portfolio company with an emphasis on biotechnology, to create treatments for orphan diseases. In September 2014 Retrophin acquired the rights to Thiola, a drug used to treat the rare disease cystinuria.
Shkreli resigned from the company in October 2014 after Retrophin's Board decided to replace him that September with Stephen Aselage. Shkreli then left Retrophin and started Turing Pharmaceuticals.
Retrophin filed a $65 million lawsuit against Shkreli in August 2015, claiming he breached his duty of loyalty to the biopharmaceutical company in a long-running dispute over his use of company funds, and alleging that he "committed stock-trading irregularities and other violations of securities rules". The lawsuit includes the claim that Shkreli threatened and harassed a former MSMB employee and his family. Shkreli and some of his business associates have been under criminal investigation by the U.S. Attorney for the Eastern District of New York since January 2015 with respect to their Retrophin activities, and Shkreli has invoked his Fifth Amendment right against self-incrimination in order to avoid testifying during civil depositions.
https://en.wikipedia.org/wiki/Martin_ShkreliAN UNETHICAL MAFIOSO OF THE BUSINESS WORLD EVEN BEFORE HE STARTED CATCHING THE PUBLIC'S EYE....
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