Patrick Soon-Shiong Net Worth

Patrick Soon-Shiong Net Worth

Net Worth: $10 Billion

Category: Richest Business › Richest Billionaires

Birthdate: 1952 (72 years old)

Birthplace: Port Elizabeth, South Africa

Gender: Male

Profession: Surgeon, Businessperson

Nationality: United States of America

What is Patrick Soon-Shiong’s Net Worth? Patrick Soon-Shiong is a South African-born surgeon and drug developer with a net worth of $10 billion. He has been the richest person in Los Angeles at times due to his successful career as a biotech entrepreneur. He is widely regarded as the richest doctor in the world and is best known for his ownership stake in the LA Lakers.

From Humble Surgeon to Multi-Billionaire

Career Highlights:

• Abraxis BioScience: Founded in 1991, developed Abraxane, a revolutionary cancer treatment drug approved by the FDA in 2005. Sold to Celgene for $3 billion in 2010.
• American Pharmaceutical Partners (APP): Founded in 1997, manufactured generic intravenous medicines. Sold to Fresnius SE for $5.6 billion in 2008.
• NantWorks: Founded in 2011, focusing on cloud-based data for healthcare. NantHealth, a division of NantWorks, can analyze tumor genetic data in under a minute.

Early Life and Education

Background: Born on July 29, 1952, in Port Elizabeth, South Africa, to Chinese immigrants. Soon-Shiong attended the University of Witwatersrand, earning a bachelor’s degree in medicine, and completed his internship at Johannesburg General Hospital. He earned a master’s degree from the University of British Columbia and trained as a surgeon at UCLA.

Early Career

Academic and Medical Career: Soon-Shiong started as a faculty transplant surgeon at UCLA Medical School, where he performed the first whole-pancreas transplant and developed experimental Type 1 diabetes treatments.

Entrepreneurial Ventures

Major Companies:

• VivoRx, Inc.: A diabetes and cancer biotechnology firm.
• APP Pharmaceuticals: Acquired Fujisawa and developed Abraxane.
• NantHealth: Provides fiber-optic, cloud-based healthcare data infrastructure.
• NantWorks: Utilizes supercomputing and semiconductor technology for various solutions.

Innovations and Contributions:

• Founded the Healthcare Transformation Institute with Arizona State University and the University of Arizona.
• Created NantOmics to develop cancer drugs based on protein kinase inhibitors.
• Initiated an IPO for NantKwest in 2015, the highest-value biotech IPO in history.
• Launched the National Immunotherapy Coalition in 2016.
• Consulted with Vice Presidents Joe Biden and Donald Trump on cancer treatment approaches.

Recent Developments

NantAfrica:

• Announced a venture with South African President Cyril Ramaphosa to expand vaccine development capabilities in Africa.
• Plans to invest over $200 million in the project in collaboration with South African government institutions.

Investments:

• Early investor in Zoom (2013).
• Invested in AccuRadio, Wibbitz, and Directa Plus (graphene-based technology).
• Purchased the Los Angeles Times and The San Diego Union-Tribune for nearly $500 million in 2018.
• Developed a zinc-air battery through NantEnergy.
• Investing in bio-renewables company NantRenewables.

Personal Life

Family: Married to former actress Michele B. Chan. The couple has two children and resides in Los Angeles, California. In 2017, they were invited by the Smithsonian to be part of the permanent exhibit “Many Voices, One Nation.”

For more insights into the ventures and contributions of Patrick Soon-Shiong, continue exploring his impact on biotechnology, healthcare, and media.