Phillip Frost Biography
Phillip Frost is an entrepreneur from the United States known for being a long-time health care investor, inventor, and founder running diagnostics-maker Opko Health.
How old is Phillip Frost? – Age
He is 85 years old as of 2021. He was born in 1936 in the United States.
Phillip Frost Family – Education
Frost was born in the United States to an observant Jewish family. He has two older brothers who are 15 and 16 years older than him. Both brothers served in the military during WWII, one in the Air Force and the other in the Army. He got his first job at the age of 13, working after school in a local hardware store. Frost graduated from the University of Pennsylvania with a B.A. in French literature in 1957. In 1961, he received his M.D. from the Albert Einstein College of Medicine, and from 1955 to 1956, he studied at the University of Paris.
Phillip Frost Wife
Frost is married to elementary school principal Patricia Orr. They live on a six-acre lot on Miami Beach’s Star Island.
What is Phillip Frost Net Worth?
His estimated net worth in 1986 was $150 million. He has an estimated net worth of 2.4 billion USD.
Did Phillip Frost invent Viagra?
Phillip did not invent Viagra. But that inconvenient truth would prevent Manny, a Thriller Miami tour guide, from telling his joke about Mr. Frost being the “biggest drug dealer in Miami.”
How many shares of OPKO does Phillip Frost own?
He owns over 500,000 units of Opko Health Inc stock worth more than $711,667,003 and has sold OPK stock worth more than $0. Frost was appointed CEO and Chairman of OPKO Health, Inc. on March 27, 2007, following the merger of Acuity Pharmaceuticals Inc., Froptix Corporation, and eXegenics, Inc. On September 7, 2018, Frost and OPKO were charged with participating in a “pump and dump” scheme to defraud investors. The US Securities and Exchange Commission has charged Frost with violating multiple sections of the Securities Act of 1933 and the Securities Exchange Act of 1934.
Phillip Frost House
His waterfront estate is over six acres in size, with a reported 31,615 square feet of house and its own greenhouse and gardens.
Phillip Frost Investents
Frost was one of the first and largest investors in Protalix BioTherapeutics, putting $24 million into the company that went on to develop a Gaucher disease treatment approved by the U.S. Food and Drug Administration. In 2007, he resigned from the company’s board of directors. According to a 2010 Securities and Exchange Commission filing, Frost donated approximately $8 million in Protalix shares to a charitable organization.
In July 2006, he was appointed chairman of the board of Ladenburg Thalmann Financial Services, an investment banking, asset management, and securities brokerage firm that provides services through its principal operating subsidiary, Ladenburg Thalmann & Co. Inc. He has been a director of Ladenburg Thalmann since March 2005. Frost is also the chairman of the board of directors of PROLOR Biotech, Inc. (NYSE Amex: PBTH), a biopharmaceutical development company.
He also serves on the boards of Castle Brands (NYSE Amex:ROX), a developer and marketer of premium brand spirits, and Continucare Corporation (NYSE Amex:CNU), an outpatient healthcare provider. He previously served on the boards of Northrop Grumman Corp., SearchMedia Holding Limited (formerly Ideation Acquisition Corp.), Protalix Bio Therapeutics, Inc., and SafeStitch Medical Inc., as well as the American Stock Exchange as governor and co-vice-chairman.
Frost owns approximately 19% of ChromaDex, a publicly traded natural products company headquartered in Irvine, California. Frost became the largest shareholder in Coconut Grove Bank, South Florida’s oldest bank, in 2011.
Frost made an initial $1.4 million investment in MusclePharm MSLP in January 2013. Frost increased his investment to 386,928 shares as of December 31, 2014, which is now worth more than $3 million. He invested $825,000 in Drone Aviation Holding Corp. in 2014 and joined its strategic advisory board. Frost joined Senesco Technologies as a director and 10% shareholder in May 2014, and the company changed its name to Sevion Therapeutics in September 2014.
Frost currently serves on the board of directors and owns 10% of Cocrystal Pharma, Inc., which was formed by the merger of BioZone Pharmaceuticals, Inc. and Cocrystal Discovery Inc. in December 2014. This company has also recently announced a merger with RFS Pharma, which will add even more expertise to the company’s focus on advanced antiviral development.