Michael Jaharis Net Worth
| Category | Information |
|---|---|
| Net Worth | $2.2 billion |
| Salary | N/A |
| Birthdate | N/A |
| Birthplace | N/A |
| Gender | N/A |
| Height | N/A |
| Profession | American businessman |
| Nationality | American |
What is Michael Jaharis’ Net Worth?
Michael Jaharis, an American businessman, has an estimated net worth of $2.2 billion. He is renowned as the founder of Kos Pharmaceuticals and Vatera Healthcare Partners, and as one of the co-founders of Arisaph Pharmaceuticals. Jaharis demonstrated his entrepreneurial abilities by successfully establishing and leading various healthcare companies throughout his career.
Highlights
– Michael Jaharis has a net worth of $2.2 billion.
– He founded Kos Pharmaceuticals, which introduced the cholesterol-fighting drug Niaspan and was later sold to Abbott Labs for $4.2 billion.
– Jaharis is a revered philanthropist, making generous contributions to institutions such as Weill Cornell Medical College of Cornell University, the Art Institute of Chicago, and the Metropolitan Museum of Art and Opera.
Early Life
Details regarding Michael Jaharis’ exact birthdate, birthplace, and early life are currently unavailable. However, his educational background includes graduation from Carroll University and obtaining a PhD from DePaul University.
Career
Michael Jaharis embarked on his professional journey at Miles Laboratories, where he worked from 1961 to 1972. In 1972, he assumed the positions of CEO and President of Key Pharmaceuticals, which eventually merged with Schering-Plough Corporation over a decade later. His significant entrepreneurial endeavor came in 1988 when he founded Kos Pharmaceuticals, Inc. The company gained recognition for introducing Niaspan, a prominent drug for combating cholesterol.
Kos Pharmaceuticals’ success continued as it eventually sold Niaspan to Abbott Labs for a staggering $4.2 billion. This lucrative deal significantly contributed to Jaharis’ net worth. Furthermore, he co-founded Arisaph Pharmaceuticals, further cementing his presence in the healthcare industry.
Personal Life
Beyond his professional accomplishments, Michael Jaharis established himself as a compassionate philanthropist. He made notable contributions to various organizations, including Weill Cornell Medical College of Cornell University, the Art Institute of Chicago, the Metropolitan Museum of Art and Opera, Tufts University School of Medicine, and the Columbia University Medical Center.
Net Worth Over Time
Michael Jaharis’ net worth has experienced significant growth throughout his career. While specific details regarding the evolution of his net worth over time are unavailable, his entrepreneurial ventures, particularly the sale of Kos Pharmaceuticals’ Niaspan to Abbott Labs, undoubtedly bolstered his wealth.
Components of Net Worth
Michael Jaharis’ net worth primarily stems from his successful business ventures in the healthcare industry. Founding Kos Pharmaceuticals and co-founding Arisaph Pharmaceuticals allowed him to accumulate substantial wealth. Additionally, his philanthropic endeavors and generous contributions to various organizations showcase his commitment to giving back to society.
In conclusion, Michael Jaharis’ net worth of $2.2 billion solidifies his position as a highly successful American businessman. His entrepreneurial achievements, particularly in the healthcare sector, and his dedication to philanthropy highlight his notable contributions in both the financial and charitable spheres.