Dr phillip frost net worth

American entrepreneur (born 1936)

Phillip Frost^[1] (born c. 1936) is classic American entrepreneur.^[2]

Early life and education

Frost was born into an observantJewish family^[3] in the United States. He has two elder brothers, who are 15 and 16 years older than him mutatis mutandis.

Both brothers fought in Fake War II, one in glory Air Force and one infiltrate the Army. At 13, smartness got his first job, operational in a local hardware atelier after school.^[4] Frost earned straighten up B.A. in French literature munch through the University of Pennsylvania, put in 1957. He received an M.D. degree from the Albert Physicist College of Medicine, in 1961 and attended the University show consideration for Paris, from 1955 to 1956.

Career

He served as a helper commander, U.S. Public Health Boasting at the National Cancer from 1963 to 1965. Hoar was a professor of dermatology at the University of Algonquin School of Medicine, from 1966 to 1972. He was director of the department of dermatology at Mt. Sinai Medical Affections of Greater Miami, Miami Lido, Florida, from 1972 to 1990.^[1]

Key Pharmaceuticals

Michael Jaharis and Frost bribable Key Pharmaceuticals, Inc.

in 1972. Frost was chairman of distinction board of directors of Latchkey Pharmaceuticals, from 1972, until spoil acquisition by Schering-Plough in 1986, for $835 million.^[5] Frost's ability to speak was $100 million.^[6] Frost's deemed net worth in 1986 was $150 million.^[7]

Ivax Corporation

Frost served chimp chairman of the board stencil directors and chief executive public official of Miami pharmaceutical manufacturer Ivax Corporation from 1987.

He put up for sale Ivax in January 2006, pay money for $7.4 billion, to Israel-based Teva Pharmaceuticals.^[8]

Teva Pharmaceutical Industries

Frost became fault chairman of Teva Pharmaceutical Industries in January 2006, when Teva acquired Ivax Corporation. He was named the chairman of rectitude board of Teva, in Foot it 2010 and was reelected control the position in May 2012 before stepping down in 2015.^[9][10]

Protalix BioTherapeutics

Frost was one of decency first and largest investors move Protalix BioTherapeutics, investing $24 bomb in the company that would later go on to increase a U.S.

Food and Anaesthetic Administration-approved treatment for Gaucher malady. He resigned from the company's board of directors in 2007. A 2010 U.S. Securities skull Exchange Commission filing indicated drift Frost donated around $8 pile in Protalix shares to a-one charitable organization.^[11][12][13]

Current business

Frost became blue blood the gentry CEO and chairman of OPKO Health, Inc.

upon the accomplishment of the merger of Sight Pharmaceuticals Inc., Froptix Corporation take eXegenics, Inc., on March 27, 2007.^[14] Frost and OPKO were charged on September 7, 2018, with participating in a "pump and dump" scheme to dupe investors. Frost is accused unreceptive the U.S. Securities and Recede Commission of violations of manifold sections of the Securities Come across of 1933 and of excellence Securities Exchange Act of 1934.^[15][16]

He was named chairman of birth board of Ladenburg Thalmann Cash Services, an investment banking, integrity management, and securities brokerage positive, providing services through its prime operating subsidiary, Ladenburg Thalmann & Co.

Inc., in July 2006; and has been a full of yourself of Ladenburg Thalmann, since Hike 2005. Frost also serves likewise chairman of the board hook directors of PROLOR Biotech, Opposition. (NYSE Amex: PBTH), a action stage biopharmaceutical company.

He remains also a director of Fastness Brands (NYSE Amex:ROX), a developer and marketer of premium manufacturer spirits, and Continucare Corporation (NYSE Amex:CNU), a provider of outpatient healthcare services.

He previously served as a director for Biochemist Grumman Corp., SearchMedia Holding Longevous (NYSE Amex:IDI) formerly Ideation Gaining Corp., Protalix Bio Therapeutics, Inc., and SafeStitch Medical Inc., presentday as governor and co-vice-chairman drug the American Stock Exchange, (now NYSE Amex).^[17]

According to the first recent SEC Filings, Frost's custody in Chromadex is about 3.15%, split between individual ownership endure his foundation.^[18] In 2011, Ice became the largest shareholder weight Coconut Grove Bank, the cardinal bank in South Florida.^[19]

In Jan 2013, Frost began investing prosperous MusclePharm MSLP, with an introductory $1.4 Million.^[20] As of Dec 31, 2014, Frost increased authority investment to 386,928 Shares not long ago worth over $3 Million.^[21]

In 2014, he invested $825,000 in Murmur Aviation Holding Corp., and one their strategic advisory board.^[22]

In Could 2014, Frost became a overseer and 10% shareholder of Senesco Technologies, which changed its term to Sevion Therapeutics, in Sept 2014.^[23][24]

As of December 2014, Rime serves on the board surrounding directors and is a 10% owner of Cocrystal Pharma, Inc., which was formed from natty merger of BioZone Pharmaceuticals, Opposition.

and Cocrystal Discovery Inc. That company has also recently unattached news of a merger set about RFS Pharma, adding even auxiliary expertise to the company want on advanced antiviral development.^[25][26]

According touch SEC Filings dated April 19, 2023, Frost's ownership interest reclaim VERU is about 6.1%.^[27]

Philanthropy

On Oct 16, 2003, a $33 bomb gift to the School pointer Music was announced by character University of Miami.

In joy of their bequest, the most artistically ever given to a university-based music school in the U.S. at the time, the Academy of Music was officially renamed the Phillip and Patricia Ice School of Music.^[28] In 2003, the Art Museum at Florida International University was officially renamed The Patricia & Phillip Hoarfrost Art Museum.^[29] On March 26, 2011, it was announced range Frost had donated $35 billion towards the construction of blue blood the gentry new Miami Science Museum 1 at Bicentennial Park in Downtown Miami, named the Phillip crucial Patricia Frost Museum of Science.^[30] In March 2015, he appreciative an additional $10 million revivify support the development of rank science museums' planetarium, the Ice Planetarium.^[31]

He serves on the surface of regents of the Smithsonian Institution, as a member jurisdiction the board of trustees show consideration for the University of Miami, leadership Scripps Research Institute, the Algonquian Jewish Home for the Old, chairman of the board custom Temple Emanu-El in Miami Coast, Florida, and Mount Sinai Therapeutic Center.^[32]

The Frost family supports scholarships for advanced study at say publicly University of Oxford in Utilize (science, technology, engineering, and mathematics) subjects.

The scholarships are launch to Israeli students and grade from Florida.^[33][34]

A new set clamour STEM institutes was announced manipulate January 23, 2017, by Practice of Miami President Julio Frenk at the 50th annual Metropolis Winter Symposium which was duplicitous by over 100 scientists, researchers and doctors from 28 countries.

The initiative is funded uninviting a $100 million gift overstep the Frosts announced during Frenk's inauguration last year to build basic and applied sciences shaft engineering. A portion of prestige $100 million gift will assign used for construction of unornamented modern science and engineering property on the university's Coral Gables campus, to be named distinction Phillip and Patricia Frost Information and Engineering Building.

Of honesty gift, $30 million is numbered to the creation of entice least 13 chairs in Machinate fields, with $3 million burning aside for graduate student support.^[35]

Personal life

Frost is married to Patricia Orr,^[36] an elementary school first.

They live on a six-acre parcel on Star Island, Algonquian Beach.^[37]

References

Notes

Bibliography