Phillip Frost
$2.2B
Born
Nov 11, 1936
Age
89
Source of Wealth
Pharmaceuticals
Residence
Miami Beach, Florida
Citizenship
United States
Marital Status
Married
Children
0
Education
Bachelor of Arts/Science, University of Pennsylvania; Medical Doctor, Yeshiva U Albert Einstein College of Medicine
- A long-time health care investor, inventor and founder, Phillip Frost now runs diagnostics-maker Opko Health.
- Frost joined Key Pharmaceuticals in 1972, reformulated its asthma drug and sold the company in 1986 for $836 million.
- Frost founded Ivax, a generic drugmaker, in 1987. He sold it to Teva Pharmaceuticals for $7.6 billion in 2005.
- In 2018, the SEC accused him of participating in a "pump-and-dump" scheme that generated over $27 million from unlawful stock sales.
- Frost denied the allegations in a personal statement. He settled with the SEC in 2018 without admitting or denying the allegations.
- Born during the Great Depression, Frost is the third son of a shoe-store owner from South Philadelphia.
- Frost and his wife, who have no children, have signed the Giving Pledge and have donated more than $130 million to the University of Miami.
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