Multiple myeloma (MM) is a heterogeneous plasma cell malignancy characterized by overproduction of monoclonal proteins, leading to systemic complications including hypercalcemia, renal dysfunction, anemia, and bone lesions. MM remains the second most common hematologic malignancy in the US. Risk factors include older age, African American ethnicity, and prior plasma cell disorders like MGUS. Genetic mutations, particularly involving translocations including the 14th chromosome [e.g., t(11;14), t(14;16)], hyperdiploidy, and deletions or mutations of P53 (on chromosome 17), significantly influence prognosis. Diagnosis relies on laboratory tests, imaging, and bone marrow biopsies, with staging informed primarily by biochemical markers. Treatment integrates systemic therapies, such as immunomodulators, proteasome inhibitors, and monoclonal antibodies, alongside bone-focused therapies and autologous stem cell transplantation. Advances in immunotherapy, including CAR-T and bispecifics, have improved outcomes. Monitoring disease progression utilizes paraprotein levels and minimal residual disease assessments. Recent innovations continue to prolong survival and enhance the quality of life for patients.