Purdue’s Richard Sackler is parting ways with $30M in property


Dr. Richard Sackler — the former president and board chair of the embattled family-owned company Purdue Pharma, which has spent the past several years embroiled in scandal surrounding America’s ongoing opioid crisis — is parting ways with $30 million in property, The Post has learned.

Sackler — a member of the billionaire family whose Purdue Pharma was accused of sparking the deadly drug epidemic by aggressively marketing the painkiller OxyContin and allegedly directing efforts to mislead the public about its risks and addictive power (claims that Purdue itself has denied) — has cleared out a number of homes in recent years amid a slew of lawsuits.

In 2022, for instance, Sackler, 77, quietly sold his eight-bedroom, 10-bathroom Boca Raton, Florida estate for $4.88 million, records obtained by The Post show. Spanning more than 7,300 square feet, Sackler purchased the home two years prior for $3.7 million.

The move to sell the home came a month before Purdue Pharma and the Sackler family — who did not admit wrongdoing — reached a $6 billion settlement with several US states over a lawsuit brought about by the opioid crisis, during which time more than 1 million Americans have died of overdoses from 1999 forward. According to the terms of that deal, the Sacklers were to pay at least $5.5 billion in cash to be used to fund treatment centers to help those with opioid-addiction struggles. (At the time, the Sackler family said in a statement that they “sincerely regret” that OxyContin “unexpectedly became part of an opioid crisis.”)

Beyond that Florida sale, Sackler is also looking to sell property on the other side of the country.

Sackler holds a stake in a Beverly Hills, California compound he helped develop, which is currently on sale for $20 million, records show. It initially hit the market in April 2021 for $25.5 million, before it was taken off the market. It later resurfaced for sale in May 2022.

Rayni Williams and Branden Williams with The Beverly Hills Estates hold the listing — and did not return a request seeking comment.

Spanning 7,000 square feet, the property stands three stories and has an open floor plan. Features include wall-to-wall glass sliders, a home theater, a custom bar, an outdoor kitchen, a fire pit lounge and an infinity pool. The primary suite includes an oversize balcony, a walk-in closet and a soaking tub.

Made up of four bedrooms and six bathrooms, Sackler and his counterparts bought the land upon which the contemporary home stands in 2019 for $2.5 million.

Sackler’s sales over the years have also included property located down south, per records. In 2018, he sold his family home in Austin, Texas for more than $3 million.

That home was his largest — occupying more than 8,100 square feet, and made up of six bedrooms and six bathrooms.

Perched atop one of the highest points in Austin, the home has been described as a “private enclave” — and a retreat that allows for seclusion.

Situated on nearly 5 acres of land, the home boasts panoramic water and mountain views, and is surrounded by greenery. Outdoor spaces include a large covered lanai, upper-level terraces, and a covered dining area and a pool, the previous listing noted.

Fast forward to today, and Sackler has since downsized to a four-bedroom, seven-bathroom Boca Raton estate, which he purchased for $1.71 million in June 2021. The home spans 5,300 square feet.


Richard Sackler is now living in this four-bedroom, seven-bathroom home he purchased for $1.71 million.
Richard Sackler is now living in this four-bedroom, seven-bathroom home he purchased for $1.71 million.
Google

The Post has reached out to Sackler’s reps for comment.

Other members of Sackler’s family have also been getting rid of property, according to reports.

Sackler’s cousin, Mortimer D.A. Sackler, unloaded a sprawling five-story Beaux Arts-style townhouse off New York’s Fifth Avenue for $38 million in 2020, as Page Six reported.

In 2019, Page Six also reported that high-society staples David and Joss Sackler left New York to escape the scandal — leaving their $6.5 million Upper East Side apartment for the Sunshine State.

But it appears they didn’t have warm welcome down in Florida either.

In 2020, Joss sent out invites to the Bal Harbour Saks in Miami Beach to introduce her LBV brand’s spring collection. The invitations, which showed an image of a man seemingly topless and unconscious next to a woman model wearing a blazer and slacks, caused a stir.

“There’s a man passed out in the photo!” one well-known Miami denizen described the invitation to The Post. “It’s absurd. That family caused the opioid crisis, and she sends out heroin-chic invites?”

At the time, a rep replied, “That description is ridiculous. The image would be appropriate for any high-fashion magazine and is part of a larger campaign . . . for [the collection], in which the theme is power-dressing for strong women.”



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