Basic Information About Patrick Soon-Shiong
|Business › Billionaires
|Date of birth
|2023-06-04 (0 years old)
|Place of birth
|United States of America
Net Worth Details
Patrick Soon-Shiong is a South African-born surgeon and drug developer who has a net worth of $10 billion. Patrick Soon-Shiong has at times been the richest person in Los Angeles thanks to his extremely lucrative career as a biotech entrepreneur. He is generally considered the richest doctor in the world. Patrick is probably best known for his ownership stake in the LA Lakers. In 201, Patrick purchased Magic Johnson’s 4.5% ownership stake in the Los Angeles Lakers. He is the largest Lakers owner outside of the Buss family. With the transaction, Soon-Shiong also acquired four courtside Lakers seats.
What is Patrick Soon-Shiong Known For?
Patrick Soon-Shiong is known for his remarkable success as a surgeon, entrepreneur, and biotech pioneer. He has made significant contributions to the medical field, particularly in the development of innovative cancer treatments. Soon-Shiong’s entrepreneurial endeavors have also earned him recognition as one of the wealthiest individuals in Los Angeles.
Early Life and Education
Patrick Soon-Shiong was born on July 29, 1952, in Port Elizabeth, South Africa. His parents were Chinese immigrants who fled from China during the Japanese occupation of World War II. Soon-Shiong attended the University of Witwatersrand, where he earned a Bachelor’s degree in medicine. He then completed his medical internship at Johannesburg General Hospital before pursuing further studies.
Soon-Shiong relocated to the United States to attend surgical training at the University of California, Los Angeles (UCLA). He became a board-certified surgeon in 1984 and a Fellow of the American College of Surgeons.
Soon-Shiong began his medical career as a faculty member at UCLA Medical School, serving as a faculty transplant surgeon from 1983 to 1991. During his time at UCLA, he performed the first whole-pancreas transplant and developed an experimental treatment for Type 1 diabetes.
In 1991, Soon-Shiong left UCLA to explore opportunities in medical technologies. He founded several biotechnology companies, including VivoRx, Inc., APP Pharmaceuticals, and Abraxis BioScience. One of his most significant achievements was the development of Abraxane, a revolutionary drug for the treatment of breast, lung, and pancreatic cancers.
Under Soon-Shiong’s leadership, Abraxis BioScience thrived, generating substantial revenue. In 201, the company was acquired by American biotech company Celgene for $3 billion in cash and stock.
Soon-Shiong did not stop there. In 2011, he founded NantWorks, a company focused on innovative solutions in healthcare and technology. NantWorks subsidiaries NantHealth and NantOmics have made significant contributions to cancer research and the development of personalized medicine.
Patrick Soon-Shiong’s achievements extend beyond his success in the business world. He has been recognized for his contributions to healthcare and philanthropy. Soon-Shiong founded the Healthcare Transformation Institute in partnership with Arizona State University and the University of Arizona, aiming to promote changes in the United States healthcare system.
In 2016, he launched the National Immunotherapy Coalition, emphasizing collaboration among pharmaceutical companies to advance cancer-fighting drugs. He has also advised prominent political figures, including Vice President Joe Biden and President-elect Donald Trump, on cancer treatment approaches and medical priorities.
Soon-Shiong has made significant investments in various industries, including media, technology, and renewable energy. He purchased the Los Angeles Times and The San Diego Union-Tribune in 2018, becoming one of the first Asian-American media proprietors of a major daily newspaper in the United States.
Patrick Soon-Shiong is married to former actress Michele B. Chan, and they reside in Los Angeles, California. The couple has two children together.
In conclusion, Patrick Soon-Shiong’s remarkable journey from a humble surgeon to a multi-billionaire is a testament to his entrepreneurial spirit, dedication to medical advancements, and philanthropic endeavors. His contributions to the healthcare industry, particularly in the field of cancer research and treatment, have made a significant impact on countless lives. With his net worth and influence, Soon-Shiong continues to pave the way for groundbreaking innovations and improvements in various sectors.