The Sackler family, the owners and heirs to the Purdue Pharma fortune, still has a great deal of wealth amassed through company revenue. Purdue Pharma, founded in 1952 by the three Sackler brothers, has faced years of legal battles over claims that it downplayed the risks of addiction to its popular painkiller, OxyContin.
The Sackler family’s fortune is estimated at $11 billion in 2021. That still makes it one of the wealthiest families in America, except the Sacklers were wealthier in the past. In 2016, the family had a net worth of $13 billion.
The Sacklers were already one of the wealthiest families in the US, with Forbes estimating that 20 relatives had a combined net worth of $13 billion as of 2016. The source of the family’s wealth is OxyContin, the prescription painkiller made by Purdue Pharma that many say has fueled the US opioid crisis.
THE Sackler family is one of the richest in America – worth a whopping $13billion. They are best known for being at the center of the US opioid crisis, and former Purdue Pharma boss Richard Sackler had a leading role. 10 Former Purdue Pharma president Richard Sackler Credit: Eyevine Who is Richard Sackler?
Sure, the actual Richard Sackler from Dopesick and his household are nonetheless wealthy in 2021. Dopesick is at the moment obtainable for streaming on Hulu. Source link
In 2016, the remaining 40 members of the Sackler family were worth $13 billion, which makes them the 19th richest family, according to Forbes. Since then, the figure has shifted due to litigation and settlement fines. As of September 2021, Bloomberg estimated that the Sackler family’s wealth had dropped to about $11 billion.
The family behind Purdue Pharma, the Sacklers, is one of the richest families in the US, with an estimated $13 billion fortune that came primarily from sales of controversial prescription painkiller OxyContin.
Again, John Oliver provided a solid explanation regarding whether Richard Sackler and his family are still rich in 2021. “The Sacklers themselves are only contributing around $4.3 billion to that settlement, which I do know does sound like a lot,” he adds.
The Sackler family owns Purdue Pharma, which makes the painkiller drug OxyContin. The OxyContin feud threatens to slash the Sackler family’s net worth and divide the family.
How much is the Sackler family worth?
The Sacklers are worth an estimated $13 billion. The family behind Purdue Pharma, the Sacklers, is one of the richest families in the US, with an estimated $13 billion fortune that came primarily from sales of controversial prescription painkiller OxyContin.
The Guardian described them in 2018 as “a sprawling and now feuding transatlantic dynasty.” According to a 2017 article from The New Yorker, there are 15 Sackler children in the generation following the founders of Purdue.
The vast majority of the Sackler fortune comes from a well-known prescription painkiller that Purdue Pharma launched in 1996, OxyContin. Reuters. By 2001, sales of the drug made up about 80% of Purdue Pharma’s revenue.
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The Sacklers disbursed $1.32 billion from Purdue between 1995 and 2007, which was considered OxyContin’s heyday.
Mortimer Sackler Jr. and his wife, Jacqueline Sackler. Getty Images. The other two are the daughters Kathe Sackler, who is also the founder and president of the Acorn Foundation for the Arts & Sciences, and Ilene Sackler Lefcourt, the director of the Sackler Lefcourt Center for Child Development.
Mortimer Sackler, the middle son who was one of Purdue Pharma’s chief executives, died in 2010 at age 93. He was survived by his third wife, Theresa Sackler, and seven children, three of whom were board members of Purdue Pharma, according to The Guardian.
In an email to Business Insider, Janet Wootten, a spokeswoman for Jillian Sackler, widow of Arthur M. Sackler, denied that Jillian, Arthur, or their heirs have financially profited from the sale of OxyContin. Mortimer Sackler, the middle son who was one of Purdue Pharma’s chief executives, died in 2010 at age 93.
How many people were named in the Sackler family?
It named eight family members: Richard, Jonathan, Mortimer, Kathe, David, Beverly and Theresa Sackler as well as Ilene Sackler Lefcourt. In addition, Massachusetts, Connecticut, Rhode Island and Utah all brought suits against the family. On the federal level, the family faced an overall bundle of 1,600 cases.
The Sackler family are descendants of Isaac Sackler and his wife Sophie (née Greenberg), Jewish immigrants to the United States from Galicia (now Ukraine) and Poland , who established a grocery business in Brooklyn. The couple had three sons, Arthur, Mortimer, and Raymond Sackler who all went to medical school and became psychiatrists. They were often cited as early pioneers in medication techniques which ended the common practice of lobotomies, and were also regarded as the first to fight for the racial integration of blood banks. In 1952, the brothers bought a small pharmaceutical company, Purdue-Frederick. Raymond and Mortimer ran Purdue, while Arthur, the oldest brother, became a pioneer in medical advertising and one of the foremost art collectors of his generation. He also gifted the majority of his collections to museums around the world. After his death in 1987, his option on one third of that company was sold by his estate to his two brothers who turned it into Purdue Pharma.
Throughout the gallery, grey tape covered signs such as Sackler Wing, including signage for the Louvre’s Persian and Levantine artifacts collection, which was removed on July 8 or 9. Signage for the collection had identified it as the Sackler Wing of Oriental Antiquities since 1997.
Similarly, the Sackler Institute of Pulmonary Pharmacology at King’s College London was named after Mortimer and Theresa Sackler. The Sackler family name, as used in institutions which the family have donated to, saw increased scrutiny in the late 2010s over the family’s association with OxyContin.
The family has also donated to universities, including Harvard University, Yale University, Cornell University, the University of Oxford, the University of Cambridge, Columbia University, Tufts University, New York University, the Royal College of Art, the University of Sussex, and the University of Edinburgh. The Sackler Faculty of Medicine at Tel Aviv University is named after Arthur, Mortimer, and Raymond Sackler for their donations. Similarly, the Sackler Institute of Pulmonary Pharmacology at King’s College London was named after Mortimer and Theresa Sackler.
According to The New York Times, the Louvre in Paris was the first major museum to “erase its public association” with the Sackler family name. On July 16, 2019, the museum had removed the plaque at the gallery entrance about Sacklers’ donations made to the museum.
Heavily promoted, oxycodone is seen as a key drug in the emergence of the opioid epidemic. Elizabeth
Sackler , daughter of Arthur Sackler, claimed that her branch of the family did not participate in or benefit from the sales of narcotics.
