Few have heard of him, but millions have benefited from the top selling drugs his company Royalty Pharma draws income from. Last year, Royalty Pharma recorded $2.1 billion of cash receipts, which have compounded by 11% since 2012 on an annualized basis. Royalty Pharma’s IPO could value it as high as $16.7 billion and Forbes estimates Legorreta’s net worth is $2.2 billion. Beginning in 2004 Legorreta expanded his operation and returns by cleverly employing debt to his drug royalty buying business. The only problem with Legorreta’s investment model has been that it has lacked an exit strategy.

Source: Forbes June 12, 2020 10:30 UTC