The richest pharmacist you personally know?

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krikik909

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I am not talking about an independent pharmacy owner or some pharmacist you barely know. I am talking about a classmate, a personal friend.

Who is the richest pharmacist you personally know? What did he/she do?

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Dude that inherited his family's small independent LTC pharmacy chain. He was cruising around in a late model BMW during pharmacy school while the rest of us were driving 15 year old Ford Escorts and getting $100s of thousands into debt.
 
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In AZ, John Musil (and I can tell the story of how he got into business). In MN, Bruce Paddock although I don't know him personally. Nationally, Bernie Marcus who my father knew as a very, very unhappy Rutgers student and Rite-Aid pharmacist before he founded Home Depot. He and Dworkin (Revco) got their start the same way, getting screwed over hard in a tight labor market. Unfortunately in Dworkin's case, that happened at the end of his career to and the story is very politically incorrect.

My guess of the the common traits all the really rich pharmacists is:
1. They hated the work of a chain druggist (or distributor business in the case of Rexall) and were screwed over by them.
2. They made peanuts for years before making it big.
3. They had a family that believed in them. (John Musil in particular had really decent parents who supported him in his odd career decision).
4. They were motivated not by money, but by power.

The richest hospital pharmacist who worked as one double-dealed his way using his procurement knowledge and ties to the Chicago scene to make a fortune in legal arbitrage while still in practice (>$650M or so). If you're been in the Chicago scene, it's probable that if you worked in hospital pharmacy in Chicago, you would have encountered him and know his story. His name ends in a vowel.
 
Entrepreneur route is the only way to get rich. On a pharmacist salary alone, you will have a comfortable lifestyle; nice home, decent car, couple of nice vacations a year, and a dog. But you won’t be rich..
 
My financial advisor. PharmD who transitioned to finance now has a net worth of 8-9 million. I'm trying to follow those footsteps lol 😀

First step is firing your financial manager. If he's made a NW of 8 mil, he's fleecing all of you with exorbitant fees.
 
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Pharmacist's aren't rich bro.
Even dual pharmacist couples.
They are all the same anyway, a McMansion around $500k and a couple SUVs.

Mcmansion for only 500k? They are at least 1.2 mil in my area. 500k is a starter home unfortunately.

My financial advisor. PharmD who transitioned to finance now has a net worth of 8-9 million. I'm trying to follow those footsteps lol 😀

Shows how much he's making off of you.
 
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My financial advisor. PharmD who transitioned to finance now has a net worth of 8-9 million. I'm trying to follow those footsteps lol 😀

Has the NW been confirmed? Plenty of financial advisors act like they have money just to attract new clients.
 
In AZ, John Musil (and I can tell the story of how he got into business). In MN, Bruce Paddock although I don't know him personally. Nationally, Bernie Marcus who my father knew as a very, very unhappy Rutgers student and Rite-Aid pharmacist before he founded Home Depot. He and Dworkin (Revco) got their start the same way, getting screwed over hard in a tight labor market. Unfortunately in Dworkin's case, that happened at the end of his career to and the story is very politically incorrect.

My guess of the the common traits all the really rich pharmacists is:
1. They hated the work of a chain druggist (or distributor business in the case of Rexall) and were screwed over by them.
2. They made peanuts for years before making it big.
3. They had a family that believed in them. (John Musil in particular had really decent parents who supported him in his odd career decision).
4. They were motivated not by money, but by power.

The richest hospital pharmacist who worked as one double-dealed his way using his procurement knowledge and ties to the Chicago scene to make a fortune in legal arbitrage while still in practice (>$650M or so). If you're been in the Chicago scene, it's probable that if you worked in hospital pharmacy in Chicago, you would have encountered him and know his story. His name ends in a vowel.

I am interested in John Musil and this Chicago pharmacist. Please do tell..
 
Hahaha woah with the financial advisor barrage! I don't pay him, it's free advice actually, I don't have any accounts with him lol. Maybe I shouldn't have just put financial advisor since it's literally just some good financial tips along the way.
 
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You saved yourself a lot of trouble by quickly mentioning it's free advice.

Dang too bad! Next time I move forward with poorly planned financial decisions I'll be sure to let SDN know so we all have some entertainment 😉

LOL was it one of tbr you're financial pharmacist guys? No idea how much they are banking

No idea what this is, sounds good that I haven't run across this yet LOL

I guess I can add though that I have made some mistakes early when it comes to finances. I got pulled into a whole life insurance policy early on (~22-23) and he helped me switch to term when I didn't realize they were taking commission off the top. I'm now investing that money elsewhere. Plus I think my guy made his money through his 401k, Roth's, diversification of his portfolio and the stock market. He's only been in the financial game for 2 years and didn't start out with much to begin with, he was just really smart with his money throughout his pharmacy career which is what I'm hoping to do moving forward.

The concern is justified though, I'm sure people are getting ripped off everywhere. I'm one of those people who built an excel spreadsheet for all my finances and tracks my money to the cent so hopefully beyond the life insurance blip that won't be me.
 
I had a classmate that never spoke and was from some nebulous middle eastern country. He drove a new Aston Martin to school. I have another friend from school that married a physician then apparently they hit it big with bitcoin. He still works at a hospital, but they own multiple apartment buildings now.
 
I worked at the grocery store with a pharmacist who'd had his own store for many years, and then sold out to Shopko in the late 1990s. The sale of that business made him a very wealthy man, in part because he didn't live like it (except that he did own a couple of Corvettes, which he also showed). Thing is, he could actually afford them.
 
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