The Sackler family, once synonymous with staggering wealth and philanthropy, has reached a monumental $7.4 billion settlement with 15 states over their role in fueling the opioid crisis through their company, Purdue Pharma. The settlement, announced in January 2025, represents a turning point in the accountability of big pharmaceutical companies and promises billions in funds to help communities ravaged by opioid addiction. Here’s everything you need to know about this historic deal, the Sackler family’s current net worth, and their lasting legacy.
A Family at the Center of a Crisis
The Sackler name is instantly recognizable, not only for its philanthropic contributions to museums and universities but also as the family behind Purdue Pharma, the maker of OxyContin. At its peak, Purdue Pharma’s aggressive marketing of opioids, coupled with the Sacklers’ relentless pursuit of profit, played a key role in igniting the opioid epidemic that has claimed hundreds of thousands of lives in the United States.
The family’s most notable members include Raymond Sackler, Richard Sackler, Mortimer Sackler, and Arthur Sackler Sr., all of whom were instrumental in the company’s operations. Raymond Sackler, once the highest-earning family member, was reportedly worth $13 billion before his death in 2017. In late 2024, the family’s combined net worth was estimated at $10.8 billion, according to multiple reports. This settlement, however, will significantly impact their wealth, as they are required to pay $6.5 billion over the next 15 years, with an additional $900 million upfront from Purdue Pharma.
The 2025 Settlement: A Historic Agreement
New York Attorney General Letitia James announced the settlement, stating that it would channel vital funds into opioid recovery and addiction treatment programs across the country. “Families throughout New York and across the nation are suffering from the immense pain and loss wrought by the opioid crisis,” James said. “While no amount of money will ever fully repair the damage they caused, this massive influx of funds will bring resources to communities in need so that we can heal.”
Under the terms of the settlement, the Sacklers are permanently barred from selling opioids in the United States. Furthermore, they have relinquished all control of Purdue Pharma, which will now operate as a public trust dedicated to addressing the opioid crisis. Purdue Pharma, now bankrupt, will pay $900 million as part of the agreement and focus on restructuring into a mission-driven entity.
The Supreme Court’s Role
The settlement follows a series of legal battles that reached the Supreme Court in December 2023. In a narrow 5-4 decision in June 2024, the Court ruled against third-party releases in Purdue Pharma’s bankruptcy plan, which initially sought to shield the Sacklers from civil liability. Despite this setback, the company continued negotiations, leading to the current settlement.
Purdue’s official website emphasizes their commitment to a “public-minded mission” and opioid abatement. “We continue to operate fully, honoring our existing relationships and meeting our obligations to our partners and customers,” the statement reads. “The company will continue serving patients who rely on our medicines and working to introduce new medicines that will help save and improve lives.”
The Sackler Family’s Declining Wealth
At their peak, the Sacklers were among the wealthiest families in the world, thanks to the massive profits generated by Purdue Pharma’s OxyContin sales. However, the financial fallout from lawsuits, settlements, and philanthropic pressure has taken a significant toll on their fortunes. While their combined net worth stood at over $10.8 billion in late 2024, the $6.5 billion payment plan will drastically reduce their wealth over the next 15 years.
Family members have faced intense public scrutiny and have become cultural symbols of corporate greed, as portrayed in critically acclaimed productions like Dopesick and Painkiller. The settlement is seen by many as a long-overdue reckoning for their role in the opioid epidemic.
Impact on Communities and the Path Forward
The $7.4 billion settlement is one of the largest of its kind and is expected to have a meaningful impact on communities devastated by opioid addiction. The funds will be used to expand access to treatment programs, support prevention initiatives, and aid recovery efforts. For families who have lost loved ones to opioid overdoses, the settlement offers a measure of justice and the hope of rebuilding their communities.
However, critics argue that no amount of money can truly compensate for the lives lost and the ongoing pain caused by the opioid crisis. Public health experts stress the importance of ensuring that these funds are used effectively and transparently to address the root causes of addiction.
A New Chapter for Purdue Pharma
As part of the settlement, Purdue Pharma will transition into a public trust model, focusing on developing medications to address public health challenges. The company’s website highlights its commitment to “producing medications safely and effectively” and contributing to solutions for the opioid crisis.
While Purdue Pharma’s restructuring represents a step forward, the company’s legacy will forever be tied to the devastating impact of OxyContin and the broader opioid epidemic.
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