by Phillip Frost is a name that rings bells in the world of business and medicine. He’s not just a doctor, but a smart businessman who’s made a lot of money.
Let’s dive into the story of this interesting man and see how much he’s worth in 2024.
Frost isn’t your average doctor. He’s a person who saw chances to make money in medicine and grabbed them.
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 in the world. His clever moves in buying and selling companies, especially in the world of medicine, have paid off big time.
He’s not just rich on paper – he’s got real money and valuable things too.
Frost’s story is a mix of brains, 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.
Phillip Frost Net Worth 2024
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:
| 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) – M.D. from Albert Einstein College of Medicine (1961) – 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. This huge amount of money comes from his smart moves in the business world, especially in medicine and drugs. He is one of the richest doctors in the world and you must need to know how he entered our list.
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:
| 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:
- Buy companies that aren’t doing well
- Make them better
- 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.
- Has Phillip Frost written any books?
While he’s known for his business acumen, there are no widely known books authored by Frost himself.
- What’s Phillip Frost’s educational background?
He has a BA in French Literature from the University of Pennsylvania and an MD from Albert Einstein College of Medicine.
- Does Phillip Frost speak multiple languages?
Given his study of French literature and time in Paris, it’s likely he speaks French in addition to English.
- What’s the Phillip and Patricia Frost Museum of Science?
It’s a museum in Miami that Frost and his wife helped fund with a $35 million donation.
Conclusion:
Phillip Frost’s story is one of remarkable success and impact. From his humble beginnings working in a hardware store at 13 to becoming a billionaire in his 80s, Frost’s journey is a testament to the power of persistence, innovation, and strategic thinking.
Key takeaways from Phillip Frost’s life and career:
- Diverse expertise: Frost’s background in medicine, combined with his business acumen, allowed him to excel in the pharmaceutical industry.
- Strategic acquisitions: His strategy of buying underperforming companies, improving them, and selling at a profit proved highly successful.
- Continuous learning: Even in his later years, Frost continues to adapt to new technologies and business trends.
- Philanthropy: His substantial donations to education and science show a commitment to giving back to society.
- Resilience: Despite facing legal challenges, Frost has maintained his position as a respected figure in business.
Frost’s net worth of $2.05 billion in 2024 is not just a number, but a reflection of decades of smart decisions, calculated risks, and an eye for opportunity.
His success extends beyond personal wealth, as seen in the jobs created through his businesses and the advancements in medicine his companies have achieved.
Moreover, Frost’s legacy is cemented not just in the business world, but in the realms of education and science.
The Phillip and Patricia Frost Museum of Science and the renamed School of Music at the University of Miami stand as testaments to his belief in the importance of knowledge and innovation.
As we look at Phillip Frost’s life, we see a man who didn’t just accumulate wealth but used it to make a lasting impact.
His story teaches us that business success can be a means to greater ends – advancing science, supporting education, and contributing to culture.
In the end, Phillip Frost’s biography is more than a tale of financial success.
It’s a story of how knowledge, coupled with business savvy, can create wealth that, when used wisely, can benefit society at large.
As Frost continues his work even in his late 80s, he sets an example of lifelong learning, adaptability, and the importance of giving back – lessons that aspiring entrepreneurs and established business leaders alike can draw inspiration from.
