Net Worth: $4.4 Billion
- Source of Wealth Pharmaceuticals
- Birth Place 1935
- Marital Status Married (Patricia Frost)
- Full Name Phillip Allen Gamma Frost
- Occupation Businessman
- Education University of Pennsylvania, Albert Einstein College of Medicine, University of Paris
About Phillip Frost
Phillip Frost has an estimated net worth of $4.4 billion as of April 2016, according to Forbes. Phillip Frost’s successful career started when he worked as a Lieutenant commander at the National Cancer Institute of the US Public Health Service. He then worked as a professor of dermatology at the University of Miami and he became the head of the Dermatology department at the Mt. Sinai Medical Center of Greater Miami Florida.
In 1972, together with Michael Jaharis, Phillip Frost bought the Key Pharmaceuticals Inc. The company was later acquired by Schering-Plough for $600 million. Frost received $100 for the sale. In 1987, Frost served as the Chief Executive Officer and Chairman of the Board of Directors at IVAX Corporation. In 2006, the company was acquired by an Israel-based pharmaceutical company Teva for $7.4 billion. He then served as the Vice Chairman of Teva in January 2006. In 2010, he became the Chairman of the Board of Directors and in May 2012, he was reelected to the post.
Frost invested $24 million in Protalix BioTherapeutics making him the largest investor to the said company which develop the treatment for Gaucher Disease.