Richard Sackler, the former president and board chair of Purdue Pharma, has been quietly selling off some of his properties in recent months. The sales come as the Sackler family faces a number of lawsuits over their role in the opioid crisis.
In February 2023, The New York Post reported that Sackler had sold over $30 million in property. The sales included a $4.88 million Florida home, a $3.2 million New York City apartment, and a $2.3 million Connecticut estate.
Despite offloading several properties, Sackler is still living in a $1.71 million Boca Raton, Florida home. He purchased the home in 2021 after selling his Austin, Texas home for over $3 million.
It is unclear why Sackler is selling off his properties. Some have speculated that he is doing so to raise money to pay for legal fees. Others have suggested that he is trying to distance himself from the Sackler family’s reputation.
Whatever the reason, Sackler’s property sales are a sign of the changing times for the Sackler family. Once one of the wealthiest families in America, the Sacklers are now facing a number of challenges, including the opioid crisis lawsuits and the public scrutiny that comes with them.