Committee Releases Documents Showing Sackler Family Wealth Totals $11 Billion
Washington, D.C. (Apr. 20, 2021)—Today, Rep. Carolyn B. Maloney, the Chairwoman of the Committee on Oversight and Reform, issued the following statement after releasing selected documents showing that members of the Sackler family, who have owned a controlling share of Purdue Pharma since 1952, are collectively worth a total of $11 billion:
“The documents we are releasing today show that the Sackler family has built an enormous fortune—collectively $11 billion—in large part through sales of OxyContin. Members of the Sackler family pushed Purdue to use deceptive marketing practices to flood communities with this dangerous painkiller, and now the Sackler family is attempting to use Purdue’s bankruptcy proceedings to evade individual responsibility for their role in fueling the opioid epidemic.
“The SACKLER Act, which I introduced with Congressman DeSaulnier, would specify that the Sacklers cannot obtain legal releases from government claims through these proceedings, and help to ensure that the family is held accountable for the irreparable harm they have inflicted on our communities.”
The Sackler family’s assets are as follows:
Approximate asset figures were calculated using data drawn from presentations prepared as part of Purdue Pharma L.P.’s bankruptcy proceedings, and provided to the Committee on April 8, 2021 in response to letters sent by Chairwoman Maloney to counsel for Mr. David Sackler and Ms. Kathe Sackler on March 11, 2021.
The Mortimer D. Sackler family data was drawn from the “Mortimer-side Net Asset Presentation,” dated January 15, 2020. The Raymond Sackler family data was drawn from the “Raymond-Side Updated Net Assets Report,” dated March 1, 2021.
These figures are approximate calculations based on the data available to the Committee at the time of the analysis. They do not reflect any changes in values that may have occurred after the date of the presentations.
Click here to read the Mortimer-side Net Asset Presentation.
Click here to read the Raymond-Side Updated Net Assets Report.
Click here to read the methodology.