Hello there, did you know that according to Forbes, Patrick Soon-Shiong, a 71-year-old Chinese-South African transplant surgeon, billionaire businessman, bioscientist, and media proprietor is the richest doctor in the world?
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Following your search for who is the richest medical doctor in the world, in this informative article, we’re going to tell you exactly who is the richest medical doctor in the world, provide you with his biography, career, investments, achievements, and then his net worth so you can know him better.
|Popular Name:||Patrick Soon-Shiong|
|Real Name:||Patrick Soon-Shiong|
|Birth Date:||July 29th, 1952|
|Birth Place:||Port Elizabeth, Union, South Africa|
|Age:||71 years old|
|Spouse(s):||Michele B. Chan|
|Profession:||Transplant Surgeon, Businessman, Bioscientist, Media Proprietor|
|Net Worth:||$7.3 billion|
Patrick Soon-Shiong’s Biography
Patrick Soon-Shiong with the ancestral surname Wong (黃) is a 71-year-old Chinese-South African transplant surgeon, business mogul, bioscientist, and media proprietor born on July 29th,1952, in Port Elizabeth, Union, South Africa.
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Patrick Soon-Shiong’s parents were Hakka originally from Meixian District in Guangdong province, and Chinese immigrant parents who ran away from China during the Japanese occupation in World War II.
He graduated from the University of Witwatersrand, came out 4th out of his class of 189 and bagged a bachelor’s degree in medicine (MBBCh) at age 23, and thereafter, he did his medical internship at Johannesburg’s General Hospital.
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Later, Patrick Soon-Shiong furthered his studies at the University of British Columbia, where he bagged a master’s degree in 1979, and as well bagged research awards from the American College of Surgeons, the Royal College of Physicians and Surgeons of Canada, and the American Association of Academic Surgery.
Patrick Soon-Shiong relocated to the U.S. and began surgical training at the University of California, Los Angeles (UCLA), and in the year 1984, he became a board-certified surgeon
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Patrick Soon-Shiong is a Fellow of the Royal College of Surgeons (Canada) and a Fellow of the American College of Surgeons and is the inventor of the drug Abraxane, which became most notable for its effectiveness against lung, breast, and pancreatic cancer.
He is also the founder of NantWorks, a network of healthcare, biotech, and artificial intelligence startups. Soon-Shiong is an adjunct professor of surgery and executive director of the Wireless Health Institute at the University of California, Los Angeles, and a visiting professor at Imperial College London and as well Dartmouth College.
Patrick Soon-Shiong has published over 100 scientific papers and over 230 issued patents globally on advancements spanning various fields in technology and medicine.
He is the chairman of 3 nonprofit organisations which are the Chan Soon-Shiong Family Foundation, the Chan Soon-Shiong Institute for Advanced Health, and the Healthcare Transformation Institute.
Patrick Soon-Shiong joined UCLA Medical School in 1983 and served as a transplant surgeon at the faculty until 1991. Between 1984 and 1987, Soon-Shiong served as an associate investigator at the Center for Ulcer Research and Education.
Concerning his family life, Patrick Soon-Shiong is married to Michele B. Chan, a former actress and philanthropist, and they have two children including Nika Soon-Shiong. The succesful medical doctor and businessman lives in Los Angeles, California with his family.
Patrick Soon-Shiong’s Net Worth
Patrick Soon-Shiong according to Forbes, as of 2021 was worth USD11.5 billion. He has been committed to redeeming the pledge of giving away at least half of his money to philanthropy, currently, his net worth is estimated at $7.3 Billion.
Patrick Soon-Shiong’s Medical Career Interwoven With Business
Patrick Soon-Shiong carried out the first whole-pancreas transplant at UCLA, thereafter he came up with, and as well carried out the experimental Type 1 diabetes treatment called encapsulated-human-islet transplant, and “first pig-to-man islet-cell transplant in diabetic patients”.
After working in the industry for a while, Soon-Shiong got back to UCLA in 2009 and served as a professor of microbiology, immunology, molecular genetics and bioengineering to date. He also served as a visiting professor at Imperial College, London, in 2011.
In 1998, Patrick Soon-Shiong acquired Fujisawa, which sold injectable generic drugs and used its revenues to develop Abraxane, which took an existing chemotherapy drug, Taxol, and wrapped it in protein that made it very easy to deliver to tumours.
Patrick Soon-Shiong was able to quickly move Taxol, through the regulatory process and gathered his wealth with medicine, then in 1991, he left UCLA to begin a diabetes and cancer biotechnology firm called VivoRx Inc.
In 1997, Patrick Soon-Shiong founded APP Pharmaceuticals, he held 80% of the outstanding stock and later in July 2008, he sold it to Fresenius SE for $4.6 billion and founded Abraxis BioScience which made the drug; Abraxane and he sold it to Celgene in 2010 in a cash-and-stock deal valued at more than $3 billion.
In 2007, Patrick Soon-Shiong founded NantHealth with the aim of providing fibre-optic, cloud-based data infrastructure to share healthcare information, and went on to found NantWorks in September 2011, aimed at converging ultra-low power semiconductor technology, supercomputing, high-performance, secure advanced networks and augmented intelligence to transform the company works, play, and live, according to the mission statement.
NantWorks owns a number of technology companies in the areas of healthcare, commerce, digital entertainment as well as a venture capital firm in the healthcare, education, science, and technology sectors. Some particular technologies are machine vision, object and voice recognition, low power semiconductors, supercomputing, and networking technologies.
Patrick Soon-Shiong announced in October 2012 that NantHealth’s supercomputer-based system and network were able to analyze the genetic data from a tumour sample in just 47 seconds and transfer the data in 18 seconds.
In January 2013, Patrick Soon-Shiong founded another biotech company called NantOmics, aimed at developing cancer drugs based on protein kinase inhibitors. The company and its sister company; NantHealth, were subsidiaries of NantWorks.
In 2010, Patrick Soon-Shiong with Arizona State University and the University of Arizona, founded the Healthcare Transformation Institute (HTI), which he dubs a “do-tank”. The institute’s mission is “to promote a shift in health care in the United States by better integrating the three now separate domains of medical science, health delivery, and healthcare finance”.
Patrick Soon-Shiong in July 2015, initiated an IPO for NantKwest (previously ConkWest) that represented the highest value biotech IPO in history, at a market value of $2.6 billion.
Patrick Soon-Shiong in 2015, received a pay package from NantKwest worth approximately $148 million, making him one of the highest paid CEOs according to the Los Angeles Times report.
At the beginning of 2016, Patrick Soon-Shiong launched the National Immunotherapy Coalition to encourage competing pharmaceutical companies to work together to test combinations of cancer-fighting drugs.
In 2017, there was an announcement by press secretary Sean Spicer, then President-elect Donald Trump met with Patrick Soon-Shiong at his Bedminster, New Jersey estate to discuss national medical priorities.
In May 2017, Patrick Soon-Shiong was appointed by House Speaker Paul Ryan to the Health Information Technology Advisory Committee; a committee established by the 21st Century Cures Act. In 2017, Soon-Shiong and his wife were invited by the Smithsonian to be part of the permanent exhibit “Many Voices, One Nation” in the West Wing of the Smithsonian museum in Washington DC.
In early 2021, Patrick Soon-Shiong merged a publicly traded company NantKwest with a privately held entity ImmunityBio (previously NantCell). The new public entity after the merger is called ImmunityBio, Inc. trading in NASDAQ under ticker symbol: “IBRX”.
By 2021 summer , the privately held entity; ImmunityBio had developed a T cell-inducing universal COVID-19 vaccine booster shot had reached Phase III trials in his native South Africa, with a stated goal of totally blocking transmission and stemming an endemic tide of COVID-19 variants.
In December 2021, Patrick Soon-Shiong shared pre-clinical results of giving a couple of different vaccine platforms (heterologous) and showed beneficial T cell levels using an adenovirus and mRNA technology.
In September 2021, Patrick Soon-Shiong and South Africa’s President, Cyril Ramaphosa announced via a virtual press conference a new venture known as NantSA with NantWorks to expand the capability of vaccine development for Africa.
NantWorks has signed a collaboration deal with the South African government’s Council for Scientific and Industrial Research, the South African Medical Research Council (SAMRC) and the Centre for Epidemic Response and Innovation.
Patrick Soon-Shiong in January 2022, opened a new manufacturing facility and campus in Cape Town, South Africa with President Ramaphosa, and he and his companies are investing more than 4 billion RAND (~$250 million dollars) into the continent from reports.
In Feb 2022, Patrick Soon-Shiong announced results from ImmunityBio regarding a clinical trial in Non-Muscle Invasive Bladder Cancer (NMIBC) with a 24.1 median duration and 71% complete remission.
Patrick Soon-Shiong’s Investments
Patrick Soon-Shiong in 2013, emerged as an early investor in Zoom, a video conferencing company, and in September 2014, NantWorks LLC, a company headed by him invested $2.5 million in AccuRadio.
The following year, 2015, NantWorks LLC invested in Wibbitz in their $8 million series B funding, then in February 2018, reports from the Los Angeles Times had it that Soon-Shiong’s investment firm NantCapital reached a deal to acquire the paper and The San Diego Union-Tribune from Tronc Inc.
The Acquisition deal was almost $500 million in cash as well as the assumption of $90 million in pension obligations, and with this acquisition, Patrick Soon-Shiong became one of the first Asian-Americans to be a media proprietor through ownership in a major daily newspaper in the U.S.
In September 2018, Patrick Soon-Shiong’s company NantEnergy announced the development of a zinc-air battery with a projected cost of $100 per kilowatt-hour which was less than one-third the cost of lithium-ion batteries.
Patrick Soon-Shiong in 2019, became an investor in a graphene based technology company in Europe known as the Directa Plus, and he currently owns 28% of the company. In 2021, Patrick Soon-Shiong announced a new investment in a biorenewables company called NantRenewables in SeaPoint, Savannah, Georgia worth $29 million.
Patrick Soon-Shiong in 2022, invested in Sienza, a lithium battery company in PasadePasadena, California.
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