Richard Sackler is an American businessman and physician who has a net worth of $1 billion. He is the former president of Purdue Pharma, the company that developed the painkiller OxyContin.
Sackler is notorious for his role in the opioid epidemic, which has killed or harmed hundreds of thousands of people in the United States.
Sackler was born in 1945 to a wealthy family in New York City. He earned a bachelor’s degree from Columbia University and an MD from the New York University School of Medicine. In 1971, he joined Purdue Pharma, where he worked his way up to become president in 1999.
As president of Purdue, Sackler oversaw the development and marketing of OxyContin. He played a key role in convincing doctors that OxyContin was less addictive than other painkillers, even though this was not true. As a result, OxyContin became one of the most prescribed drugs in the United States, and it is widely believed that it played a major role in the opioid epidemic.
In 2018, Purdue Pharma filed for bankruptcy protection. The company reached a settlement with the U.S. Department of Justice in 2020, agreeing to pay $8 billion to victims of the opioid epidemic. Sackler and other members of his family were also ordered to pay $225 million.
What is Richard Sackler’s Net Worth?
Despite his role in the opioid epidemic, Sackler has maintained his wealth. According to Forbes, he is still worth $1 billion. This is due in part to the fact that he has sold off some of his assets, including a $30 million home in Austin, Texas.
Sackler is now living a quieter life in Boca Raton, Florida. He is still facing legal challenges, but he is unlikely to be held accountable for his role in the opioid epidemic.