Patrick Soon-Shiong Net Worth

Table of Contents

What is Patrick Soon-Shiong’s Net Worth?

Patrick Soon-Shiong, with a net worth of $10 billion, is a South African-born surgeon and drug developer. Known as the richest doctor in the world, he has achieved immense success in the biotech industry, making him one of the wealthiest individuals in Los Angeles. In addition to his medical ventures, Patrick is also involved in various other businesses and technologies.

Highlights

– Patrick Soon-Shiong has a net worth of $10 billion.
– He is considered the richest doctor in the world.
– Known for his ownership stake in the LA Lakers.
– Founded biotechnology companies such as Abraxis BioScience, APP Pharmaceuticals, and NantWorks.
– Invested in a number of businesses and technologies, including Zoom, AccuRadio, and Wibbitz.
– Acquired the Los Angeles Times and The San Diego Union-Tribune in 2018.

Early Life

Patrick Soon-Shiong was born on July 29, 1952, in Port Elizabeth, South Africa. His parents were Chinese immigrants who fled from China during World War II. He pursued his education at the University of Witwatersrand, where he earned a bachelor’s degree in medicine. He then completed his medical internship at Johannesburg General Hospital and later moved to the United States to pursue surgical training at the University of California, Los Angeles (UCLA).

Career

Soon-Shiong began his medical career as a faculty transplant surgeon at UCLA Medical School in 1983. He performed groundbreaking surgeries and developed new treatments, such as an experimental Type 1 diabetes treatment involving pig cell transplantation. In 1991, he left UCLA to explore opportunities in medical technologies and founded VivoRx, Inc., a diabetes and cancer biotechnology firm.

Throughout his career, Patrick Soon-Shiong founded several successful companies in the biotech industry. In 1997, he established American Pharmaceutical Partners (APP) and later acquired Fujisawa in 1998. In 2005, his company Abraxis BioScience developed a revolutionary drug called Abraxane, which was approved for the treatment of breast cancer. In 2010, Abraxis BioScience was acquired by Celgene for $3 billion.

In addition to his biotech ventures, Soon-Shiong founded NantHealth in 2007 to provide cloud-based data infrastructure for healthcare information sharing. He also established NantWorks, which focused on using supercomputing and semiconductor technology to find solutions for various industries. He initiated the IPO for NantKwest in 2015, making it the highest-value biotech IPO in history at $2.6 billion.

Personal Life

Patrick Soon-Shiong is married to former actress Michele B. Chan, and the couple has two children. They reside in Los Angeles, California. In 2017, they were invited by the Smithsonian to be part of a permanent exhibit called “Many Voices, One Nation.”

Net Worth Over Time

Patrick Soon-Shiong’s net worth has fluctuated over time due to his various business ventures and investments. As of now, his net worth stands at approximately $10 billion. With his successful biotech companies, acquisitions, and investments in other businesses and technologies, he has amassed significant wealth.

Components of Net Worth

Patrick Soon-Shiong’s net worth is primarily derived from his ownership stakes in various biotech companies, including Abraxis BioScience and NantHealth. He has also profited from the acquisition of his companies, such as the $3 billion sale of Abraxis BioScience to Celgene. His investments in businesses like Zoom and his ownership of media publications like the Los Angeles Times and The San Diego Union-Tribune contribute to his overall net worth as well. Additionally, his real estate holdings and other personal assets also add to his wealth.

In conclusion, Patrick Soon-Shiong’s remarkable career as a surgeon, drug developer, and entrepreneur has led to a net worth of $10 billion. His contributions to the field of biotechnology, along with his investments in various businesses and technologies, have solidified his status as one of the wealthiest individuals in Los Angeles.

Dive into the world of luxury with this video!