Even after a myriad of lawsuits, the Sackler family still holds the title as one of America’s wealthiest families. Made up of over 40 members between descendants from the three original Sackler brothers, its wealth and heirs now span several generations.
The oldest of the three brothers, Arthur, passed away in 1987 before OxyContin was even invented. However, he did spearhead the evolution of pharmaceutical advertising, as well as the marketing of Librium and Valium.
As a doctor, he wanted to move away from the more intrusive treatments of the 1940s, such as electroshock therapy, which is why he was a staunch supporter of prescription medicine. On the other hand, a lot of the current opioid endemic can be traced back to his practices.
Arthur’s two younger brothers, Mortimer and Raymond, took over Purdue after Arthur’s death. The two of them spearheaded the creation and evolution of OxyContin, and several of their descendants were still on the Purdue Pharma board up until 2019, when a law settlement forced them to relinquish their positions. The company had also declared bankruptcy during that same year.
However, despite taking a step back, the Sackler family has amassed so much wealth over the past century that they are still one of the world’s wealthiest families. They currently have a net worth of about $14-$15 billion collectively, which is more than enough money for any family, no matter how large.
In 2023, CNN reported that the Sackler family had agreed to a $6 billion settlement to fight the opioid crisis in exchange for the family to receive lifetime immunity from past and future civil liability. The family also had to sell their pharmaceutical holdings and forfeit their equity in Purdue. The deal between the Sacklers, eight states, and the District of Columbia was agreed upon in March 2023, per CNN.
Despite their role in causing the opioid epidemic, many members of the Sackler family have moved now with their lives, except they now have a few less billions in the bank.
To further punish the Sacklers for their role in the opioid crisis, the deal also allows for organizations and institutions to remove the family name should it be attached to scholarships, buildings, or programs. CNN notes that the family must first be notified of the removal and that any statements made do not denigrate the family.
