Phillip Frost Net Worth

Phillip Frost has an estimated net worth of $2.5 billion, according to Forbes Real-Time Billionaires, Phillip Frost profile (figures as of October 20, 2026). That is up from $2 billion in 2019.

Phillip Frost is an American entrepreneur in healthcare and pharmaceuticals. He built his reputation by buying, growing, and selling drug companies over several decades. Early in his career, he worked at the National Cancer Institute, taught dermatology at the University of Miami School of Medicine, and led the dermatology department at Mt. Sinai Medical Center of Greater Miami. Forbes describes him as a self-made health care investor, inventor, and founder who now runs diagnostics maker Opko Health.

His wealth came mainly from 2 major company deals. Frost joined Key Pharmaceuticals in 1972, helped reformulate its asthma drug, and sold the company in 1986 for $836 million, according to Forbes. He then founded generic drugmaker Ivax in 1987 and sold it to Teva Pharmaceuticals for $7.6 billion in 2005, also according to Forbes. After that sale, he became vice chairman of Teva in 2006, later chaired the board, and also led Opko Health.

How Phillip Frost built his fortune

Frost made most of his money in pharmaceuticals. His first big win came at Key Pharmaceuticals, where he joined in 1972 and helped remake an asthma treatment before the business was sold in 1986. Forbes says that deal was worth $836 million. He had medical training and experience in research and dermatology, which gave him a base in health care before he moved deeper into building companies.

His next major step was Ivax, the generic drugmaker he founded in 1987. Forbes says Teva Pharmaceuticals bought Ivax for $7.6 billion in 2005. Frost then stayed active in the industry through leadership roles at Teva and Opko Health. He also backed other health care businesses, including Protalix BioTherapeutics, where he was an early and large investor with $21 million, and he later held a stake in VERU.

What Forbes says about his net worth

Forbes has tracked Frost's wealth through several ups and downs. On the World's Billionaires list, Forbes estimated him at $2 billion in 2019, then $1.5 billion in 2020. The figure moved up to $2.5 billion in 2021, then shifted to $1.8 billion in 2023. Those changes fit a fortune tied closely to health care holdings, investments, and the market value of public company stakes.

The latest estimate is higher. Forbes puts Phillip Frost at $2.3 billion on the 2026 World's Billionaires list, and $2.5 billion on Forbes' real-time billionaires tracker as of October 20, 2026. His money story is centered on pharmaceuticals and healthcare, especially the value created from Key Pharmaceuticals, Ivax, and his later role at Opko Health, where Forbes says he now runs the diagnostics maker.