⬅ # 297 Quek Leng Chan|# 299 Robert Rowling

# 298 Patrick Soon-Shiong 

$8.74B

Real Time Net Worth
as of 5/29/2024
$23.3M (0.27%)

# 298 Patrick Soon-Shiong 

$8.74B

Real Time Net Worth
as of 5/29/2024
$23.3M (0.27%)
OccupationCEO, Nantworks; Owner, Los Angeles Times
Source of WealthPharmaceuticals
Age71
ResidenceLos Angeles, California
Marital StatusMarried
Children2
EducationMS, University of British Columbia; BS, University of Witwatersrand; Medical Doctor, University of Witwatersrand
Age-Adjusted Net Worth$4.15B
Patrick Soon-Shiong
Patrick Soon-Shiong
United States
Net worth: $8.74B

Self-Made Score 

Wealth History

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Biography

Early Life and Education

Patrick Soon-Shiong was born on July 29, 1952, in Port Elizabeth, Union of South Africa, to Chinese immigrant parents of Hakka origin from Meixian District in Guangdong province.
He graduated 4th out of his class of 200 from the University of Witwatersrand, earning a bachelor's degree in medicine (MBBCh) at age 23.
Soon-Shiong completed his medical internship at Johannesburg's General Hospital and obtained a master's degree from the University of British Columbia.
He underwent surgical training at the University of California, Los Angeles (UCLA), becoming a board-certified surgeon in 1984.
During his career, Soon-Shiong acquired United States citizenship and received fellowships from the Royal College of Surgeons (Canada) and the American College of Surgeons.

Career

Invented Cancer Drug Abraxane, known for efficacy against lung, breast, and pancreatic cancer
Founder of NantWorks, a network of healthcare, biotech, and AI startups
Adjunct Professor of Surgery and Executive Director of Wireless Health Institute at UCLA
Visiting Professor at Imperial College London and Dartmouth College
Chairman of Chan Soon-Shiong Family Foundation, Chan Soon-Shiong Institute for Advanced Health, and Healthcare Transformation Institute
Owner and Executive Chairman of the Los Angeles Times since June 2018
Partial owner of the Los Angeles Lakers since 2010

Major Ventures and Investments

Sold drug companies Abraxis (2010) and American Pharmaceutical Partners (2008) for a combined $9.1 billion
Took NantKwest public in 2015 and NantHealth public in 2016
Bought Los Angeles Times and San Diego Tribune for $500 million in June 2018
Founded Healthcare Transformation Institute in 2010
Initiated IPO for NantKwest, representing highest value biotech IPO in history in July 2015
Founded NantPharma in 2015, acquiring Cynviloq from Sorrento Therapeutics
Launched National Immunotherapy Coalition in early 2016
Merged NantKwest with ImmunityBio in early 2021
Established NantSA venture with South African government in September 2021 for vaccine development in Africa
Opened manufacturing facility and campus in Cape Town, South Africa in January 2022
Announced clinical trial results in Non-Muscle Invasive Bladder Cancer in February 2022
Invested in Zoom (2013), AccuRadio (2014), Wibbitz (2015), Directa Plus (2019), NantRenewables (2021), Sienza (2022), among others

Philanthropy and Public Engagement

Committed to the Giving Pledge, pledging to give away at least half of his wealth to philanthropy
Chairman of nonprofit organizations aiming to fund research and erase disparities in access to healthcare and education
Met with former Vice President Joe Biden to discuss ambitious approaches to fighting cancer
Appointed to the Health Information Technology Advisory Committee in 2017
Part of the permanent exhibit 'Many Voices, One Nation' at the Smithsonian museum
Engaged in Operation Warp Speed for COVID-19 vaccine development
Active in philanthropic efforts in South Africa, investing over 4 billion RAND (~$250 million) in the continent

How long would it take you to become as rich as Patrick Soon-Shiong?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Patrick Soon-Shiong's net worth of $8.74B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.57% compared to 11.75% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Patrick Soon-Shiong is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Patrick Soon-Shiong, Pharmaceuticals is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey