Martin was born in 1983 Coney Islands to Kroatian an Albanian immigrants parents. Both worked as janitors.
His Neighbor Taught Him
He learned about stocks as a child from his neighbor with whom he used to play chess.
He bought his first stock shares at the computer company Compaq when he was only 12 years old.
He continued to buy stocks as a teen, and he was one of the first to buy shares from Amazon when it went public in 1997.
Even though he dropped out before he graduated, he credits Hunter College as the reason for his success. In matter to thank them he donated $1 million to it in 2015, which was heavy criticized by many.
He started to work at Wall Street with 16 at Cramer, Berkowitz & Co.
In 2004he got a business degree from Baruch college, even though he says that high school actually taught him everything.
He worked for UBS and Intrepid Capital management before starting his own hedge funds.
He became known for shorting Biotech Stock during his decade at Wall Street.
The Twitter Ban
He is banned from Twitter since February 2017 after continuously harassing journalist Lauren Duca.
MSMB Capital Management
He opened his first hedge fund company in 2009, called MSMB Capital Management.
In 2011 he founded Retrophin, a pharmaceutical company.
The End Of MSMB
In 2011 MSMB was forced to stop all trading after they’ve lost over $7 million. The only thing left in assets were roughly $60’000.
He then funneled in 2015 money from Retrophin to pay off MSMB’s debts.
The FBI accused him of making fake, backdated data transactions to create the appearance that his hedge fund, MSMB Capital had invested in the pharmaceutical company Retrophin.
Top 30 Under 30
He was listed by Forbes as one of the top 30 under 30 in finances.
Seven investors demanded Shkreli to return their money, after they’ve found out about his fake transactions. He then settled with them for $11 million, but he didn’t ask Retrophin’s board before doing so. He covered it up as “consulting” agreements.
Retrophin’s board kicked him then out later in 2014.
In 2015 he funded Turing Pharmaceuticals and bought the rights to market Daraprim, a treatment used by AIDS patients, with no generic alternative. He then hiked the price of the drug from $13 to $750, causing widespread backlash and critics.
In 2015 he tried to donate $2,700 to Bernie Sanders, who rejected the donation and gave it to a Aids clinic.
He bought KaloBios Pharmaceuticals in November 2015. The same month the US Senate Special Committee on Aging began investigating Turing Pharmaceuticals.
He was arrested on suspicion of securities fraud in December and then stepped down as CEO of Turing, the same month he was fired bi KaloBios.
On August 4, 2017, he was found guilty of three counts of securities fraud. He will be facing up to 20 years in prison.
He actually remained optimistic because he was found not guilty on the key charge that he had looted Retrophin to make payments on behalf of his hedge fund.
After the conviction, he made a YouTube live-streaming marathon, insisting that there was actually a “50-50” chance he’ll actually go to prison. Being confident about escaping the prison charges.