Phillip Frost Net Worth 2024

Ever wonder how a doctor becomes one of the world’s wealthiest people? Meet Phillip Frost, a man who’s turned medical know-how into a fortune.

His journey from physician to billionaire businessman is a tale of smarts, hard work, and seizing opportunities.

Frost isn’t your typical doctor. He saw chances to make money in medicine and grabbed them with both hands.

He’s famous for a clever business trick: buying struggling companies, making them better, and selling them for much more. This strategy has paid off big time.

But Frost’s wealth didn’t appear overnight. It’s the result of decades of smart moves and calculated risks.

From running big drug companies to investing in cutting-edge ideas, Frost has shown a knack for spotting golden opportunities.

Phillip Frost Net Worth 2024

In this guide, we’ll dive into Frost’s amazing journey. We’ll explore how he built his empire, what he owns, and how he uses his wealth.

Whether you’re curious about business success or just love a good rags-to-riches story, Frost’s tale is sure to fascinate.

Ready to uncover the secrets behind Phillip Frost’s impressive net worth in 2024? Let’s get started!

Who is Phillip Frost?

Phillip Frost is a big name in the world of business and medicine. He’s not just a regular doctor – he’s a smart businessman who’s made a ton of money. Let’s dive into his story and see how much he’s worth in 2024.

Frost isn’t your average Joe. He saw ways to make money in medicine and grabbed those chances. He’s known for buying companies that weren’t doing well, making them better, and then selling them for a lot more money. This way of doing business has made him very rich.

By 2024, Phillip Frost has become one of the richest people around. His clever moves in buying and selling companies, especially in medicine, have paid off big time. He’s not just rich on paper – he’s got real money and valuable stuff too.

Frost’s story is a mix of smarts, hard work, and being in the right place at the right time. He’s shown that if you’re smart about money and business, you can turn a little into a lot. His life is like a lesson in how to become very wealthy by spotting good business chances.

In this article, we’ll look at how Frost got so rich, what he owns, and how he spends his money. We’ll also learn about his life, the companies he’s run, and the good things he’s done with his wealth. It’s a story that shows how someone can become super rich by being smart and working hard.

Phillip Frost Bio

Let’s start by looking at some basic facts about Phillip Frost:

Detail	Information
Full Name	Phillip Frost
Born	November 11, 1936
Age	87 years (as of 2024)
Birthplace	United States
Nationality	American
Education	– Bachelor of Arts in French Literature from the University of Pennsylvania (1957)<br>- M.D. from Albert Einstein College of Medicine (1961)<br>- Attended University of Paris (1955-1956)
Profession	Businessman, Physician, Investor
Known For	Pharmaceuticals and Healthcare Industry
Spouse	Patricia Orr
Residence	Miami Beach, Florida

Phillip Frost Net Worth 2024

As of 2024, Phillip Frost’s net worth is estimated at $2.05 billion. That’s a huge amount of money! This wealth comes from his smart moves in the business world, especially in medicine and drugs. He’s one of the richest doctors in the world.

Frost didn’t just become rich overnight. He built his wealth over many years by:

• Buying companies: He bought companies that weren’t doing well and made them better.
• Selling companies: After improving these companies, he sold them for much more money.
• Investing wisely: He put money into new ideas and companies that grew a lot.
• Leading big companies: As a boss of big drug companies, he earned a lot of money.

His biggest money-makers were:

• Selling Key Pharmaceuticals for $836 million in 1986
• Selling Ivax Corporation for $7.6 billion in 2005

These big sales made Frost very rich. But he didn’t stop there. He kept investing in new companies and ideas, which helped his wealth grow even more.

Frost’s money isn’t just in cash. He owns:

• Expensive houses
• Shares in many companies
• Valuable art

All these things add up to make him one of the richest people in the world.

Earnings & Financial Data

Here’s a look at some of Frost’s big money moves:

Year	Category	Description	Amount
2019	Asset	Shares in OPKO Health Inc.	$3,200,000
2019	Donation	To the University of Miami	$100,000,000
2019	Asset	Various company equities	$1,040,000,000
2018	Earnings	OPKO Health Inc. revenue	$990,270,000
2018	Earnings	Total compensation from Opko Health Inc.	$2,040,000
2018	Salary	Base salary from Opko Health Inc.	$960,000
2018	Sale of Asset	Sale of OPKO shares to Ladenburg	$130,250,000
2005	Sale of Asset	Sale of Ivax to Teva Pharmaceuticals	$7,600,000,000

This table shows some of Frost’s big money moves. He’s made millions from his work and smart investments.

What is the salary of Phillip Frost?

Phillip Frost’s salary isn’t just one simple number. It changes based on his job and the companies he runs. Here’s what we know:

• In 2018, his base salary as the boss of Opko Health Inc. was $960,000.
• But that’s not all he made. His total pay that year, including other benefits, was $2,040,000.

It’s important to know that for someone like Frost, salary is just a small part of how he makes money. He earns much more from:

• Owning parts of companies: As companies grow, their shares become worth more.
• Selling companies: When he sells a company, he can make billions.
• Investments: He puts money into new ideas that can grow a lot.

So, while his salary might seem big to most people, it’s a small part of how rich he is. His wealth comes more from owning and selling companies than from a regular paycheck.

How old is Phillip Frost?

Phillip Frost was born on November 11, 1936. This means:

• In 2024, he is 87 years old.
• He’s been working in business and medicine for over 60 years.
• Frost started his big business moves when he was in his 30s and 40s.

Even at 87, Frost is still active in business. This shows that:

• Age doesn’t stop him from making smart money moves.
• He’s used his many years of experience to keep growing his wealth.
• Frost has seen many changes in medicine and business, which helps him make good choices.

His age is a big part of his story. It shows how someone can keep being successful and make money for many years if they’re smart and work hard.

Phillip Frost Family

Phillip Frost’s family life is an important part of his story. Here’s what we know:

Wife: Frost is married to Patricia Orr.

• Patricia was an elementary school principal.
• They’ve been together for many years.

Children: There’s not much public information about Frost’s children.

Early Family:

• Frost was born into an observant Jewish family in the United States.
• He has two older brothers who fought in World War II.

Home:

• The Frosts live on a six-acre property on Star Island, Miami Beach.
• This shows they like to live in luxury.

Family Values:

• Frost and his wife are known for giving a lot of money to good causes.
• This suggests they believe in helping others with their wealth.

Frost’s family life seems private, but his marriage to Patricia is a big part of his public image. They’re often mentioned together, especially when they give money to schools or museums.

The fact that Frost came from a Jewish family and had brothers who fought in the war might have shaped how he thinks about life and business. It shows he grew up in a time of big changes in the world.

Phillip Frost Companies

Phillip Frost has been involved with many companies over the years. Here are some of the most important ones:

Key Pharmaceuticals

• Bought by Frost in 1972
• Sold in 1986 for $836 million
• This was his first big success in business

Ivax Corporation

• Frost was CEO and Chairman from 1987
• Sold to Teva Pharmaceuticals in 2006 for $7.4 billion
• This sale made Frost very rich

Teva Pharmaceutical Industries

• Became Vice Chairman in 2006
• Was Chairman from 2010 to 2015
• This was a big, worldwide drug company

OPKO Health, Inc.

• Frost is CEO and Chairman since 2007
• This is his current main company
• It works on new medicines and tests

Protalix BioTherapeutics

• Frost invested $24 million in this company
• They made a new treatment for a rare disease

Ladenburg Thalmann Financial Services

• Frost is Chairman of the Board
• This is a money and investment company

MusclePharm MSLP

• Frost invested in this company that makes food for athletes

Drone Aviation Holding Corp.

• Frost invested $825,000 in this company that makes drones

Frost’s way of doing business is to:

1. Buy companies that aren’t doing well
2. Make them better
3. Sell them for a lot more money

This strategy has worked very well for him, making him a billionaire.

Phillip Frost Major Achievements

Phillip Frost has done many impressive things in his life. Here are some of his biggest achievements:

Building Key Pharmaceuticals

• Took a small company and made it very successful
• Sold it for $835 million in 1986
• This showed he could make a company worth a lot more

Growing Ivax Corporation

• Made Ivax a world leader in generic drugs
• Sold it for $7.4 billion in 2006
• This deal made him known as a top businessman

Leading Teva Pharmaceuticals

• Helped run one of the biggest drug companies in the world
• Was Chairman of the Board from 2010 to 2015
• Showed he could lead a huge, global company

Starting OPKO Health

• Created a new company to work on new medicines
• Still runs this company today
• Keeps working on new ideas in medicine

Smart Investments

• Put money into many different companies
• Helped start new businesses in medicine and other areas
• Shows he can spot good business ideas

Giving to Good Causes

• Gave $100 million to the University of Miami
• Helped build the Phillip and Patricia Frost Museum of Science
• Uses his money to help with education and science

Patents

• Has his name on many patents for new medicines
• Shows he’s not just a businessman, but also an inventor

Building Wealth

• Became a billionaire through his work
• Is one of the richest people in the world
• Did this by being smart about business, not by inheriting money

These achievements show that Frost is good at many things – running companies, inventing new medicines, and using his money to help others. He’s not just made himself rich but has also done things that help many people.

Phillip Frost Awards & Achievements

Phillip Frost has been recognized for his work in business and science. Here are some of his awards and honors:

Honorary Degrees

• From the University of Miami
• From Florida International University
• From Nova Southeastern University
• These show that schools think highly of his work

“Entrepreneur of the Year”

• Given by Ernst & Young in 1986
• This was for his success with Key Pharmaceuticals

Florida Business Hall of Fame

• Inducted in 2008
• This honor is for top business leaders in Florida

Horatio Alger Award

• Given to people who succeed despite facing challenges

Ellis Island Medal of Honor

• For his work as a successful immigrant to the United States

National Medal of Technology and Innovation

• One of the highest honors for achievement and leadership in advancing the fields of science and technology

NASDAQ Entrepreneurial Excellence Award

• For his success in starting and growing businesses

American Academy of Achievement’s Golden Plate Award

• Given to exceptional leaders from various fields

These awards show that Frost is respected not just for making money, but for:

• Being creative in business
• Helping science and medicine move forward
• Being a leader in his field
• Giving back to society

Frost’s achievements go beyond just the money he’s made. He’s seen as someone who has made important contributions to business and science, and has been honored for it many times.

Phillip Frost Personal Life & Legacy

Phillip Frost’s personal life and the mark he’s leaving on the world are interesting parts of his story:

Personal Life:

• Home: Lives on a big property in Miami Beach, showing he likes luxury
• Hobbies:
  • Art Collecting: Owns many modern and contemporary art pieces
  • Flying: Has a pilot’s license and enjoys flying his plane
• Lifestyle: Member of the “Billionaire’s Club” at a fancy hotel, showing he lives a high-class life

Legacy:

Giving to Education:

• Gave $33 million to the University of Miami’s School of Music
• The school is now named after him and his wife

Supporting Science:

• Donated $45 million for a new science museum in Miami
• The Phillip and Patricia Frost Museum of Science is named after them

Helping Research:

• Gave $100 million to the University of Miami for science and engineering
• This money helps build new buildings and supports students and teachers

Art and Culture:

• Supports many museums and cultural places
• Helps keep art and culture alive in his community

Business Legacy:

• Known for growing companies and creating jobs
• His way of doing business has influenced many other people

Medical Advances:

• His companies have made new medicines that help people
• This work continues to affect people’s health

Frost’s legacy is about more than just being rich. He’s using his money to:

• Help students learn
• Make science better
• Support art and culture
• Create new medicines

This shows he wants to make the world better, not just make money. People will remember Frost not just as a rich man, but as someone who used his success to help others and improve society.

Phillip Frost Trivia

Here are some interesting facts about Phillip Frost that you might not know:

• First Job: Frost got his first job at 13, working in a hardware store.
• Language Skills: He studied French literature and spent time at the University of Paris.
• Medical Career: Before becoming a businessman, Frost was a dermatologist.
• Government Service: He was a lieutenant commander in the U.S. Public Health Service.
• Teaching: Frost was a professor of dermatology at the University of Miami.
• Art Lover: He and his wife have a big collection of modern and contemporary art.
• Pilot: Frost knows how to fly planes and enjoys doing it himself.
• Namesake: There’s a science museum in Miami named after him and his wife.
• Early Riser: Known for starting his workday very early in the morning.
• Diverse Interests: Besides medicine, he’s invested in tobacco and wine companies.
• Stock Exchange Role: He was once a governor of the American Stock Exchange.
• Banking: Frost is the biggest shareholder in a local bank in Florida.
• Continued Learning: Even in his 80s, he keeps learning about new technologies and businesses.

These facts show that Frost is more than just a businessman. He’s someone with many interests and skills, from languages to flying to art. This wide range of knowledge has probably helped him be successful in many different areas of business.

FAQs on Dr. Phillip Frost’s Bio

Here are some common questions people ask about Phillip Frost:

How did Phillip Frost make his money?

• Mainly by buying, improving, and selling pharmaceutical companies.
• His biggest deals were selling Key Pharmaceuticals and Ivax Corporation.

What is Phillip Frost’s current job?

• He’s the CEO and Chairman of OPKO Health, Inc.

Has Phillip Frost ever been in trouble with the law?

• Yes, in 2018 he faced charges from the SEC about stock sales, but these were settled.

What kind of doctor was Phillip Frost?

• He was a dermatologist before becoming a full-time businessman.

Is Phillip Frost still active in business at his age?

• Yes, even in his 80s, he’s still involved in running companies and making investments.

What’s the biggest donation Phillip Frost has made?

• He and his wife gave $100 million to the University of Miami for science and engineering.

Does Phillip Frost have children?

• There’s not much public information about Frost’s children.

What companies did Phillip Frost found?

• He didn’t found many companies, but he bought and improved existing ones like Key Pharmaceuticals and Ivax.

Is Phillip Frost involved in anything besides pharmaceuticals?

• Yes, he’s invested in various fields including financial services, technology, and even drone companies.

How long has Phillip Frost been married?

• Frost has been married to Patricia Orr for many years, but the exact length isn’t widely publicized.

What’s special about Phillip Frost’s home?

• He lives on a six-acre property on Star Island in Miami Beach, known for being very luxurious.