How Much Is Richard Sackler Worth?

Richard Sackler is worth a whopping $1 billion. He’s known for his work at Purdue Pharma, the maker of OxyContin. This powerful painkiller has been at the center of a lot of controversy.

He’s part of the wealthy Sackler family, who have a combined fortune of $14 to $15 billion. Richard was the company’s president. His actions in the opioid crisis led to many lawsuits.

Despite the legal battles, he still holds onto a lot of money.

Early Life and Career

Richard Sackler was born on March 10, 1945, in Roslyn, New York. He comes from a family filled with medical and business experts. His father and uncles got hold of Purdue Pharma, a medicine company, in 1952. Richard began his education journey at Columbia University. He finished with a BA degree. He wanted to learn more about medicine. So, he went to the New York University School of Medicine. There, he achieved an MD.

In 1971, Richard joined his family’s company. His first job was helping his father. He worked hard and took on more responsibilities. Eventually, he became the president and co-chairman of Purdue Pharma. A key moment in his career was leading the way with OxyContin, a painkiller. Many people got hooked on it, starting a big opioid crisis.

Legal Repercussions and Current Affairs

Purdue Pharma and its former head, Richard Sackler, have faced a large legal mess over the opioid crisis. Back in 2007, the company had to pay $600 million, one of the most massive such settlements in the U.S.

Sackler was questioned in 2015 and sued by many states. They claimed he and the company had hidden the real dangers of OxyContin from the public. In 2020, Purdue agreed to a massive $8 billion settlement, admitting their part in the epidemic.

This deal also saw the Sackler family owing $225 million. But, the Supreme Court stopped this settlement in 2023. The legal fights go on. Meanwhile, Richard Sackler lives in Boca Raton, Florida. His wealth is around $1.1 billion despite the troubles.