The world's richest doctor wants to revolutionize cancer treatment by making it tailor-made (2024)

FAQs

How did Patrick Soon-Shiong make his money? ›

Soon-Shiong later founded Abraxis BioScience (maker of the drug, Abraxane), a company he sold to Celgene in 2010 in a cash-and-stock deal valued at over $3 billion. Soon-Shiong founded NantHealth in 2007 to provide fiber-optic, cloud-based data infrastructure to share healthcare information.

Patrick Soon-Shiong, MD

Dr. Soon-Shiong invented the pancreatic cancer drug Abraxane. He sold his drug companies Abraxis in 2010 and American Pharmaceutical in 2008 for a combined $9.1 billion. He took his cancer drugmaker NantKwest public in 2015 and his biotech startup NantHealth public in 2016.

Soon-Shiong has been repeatedly accused of financial misrepresentation, self-dealing, price gouging, and fraud. He has been sued by former investors and business partners; he has been sued by other doctors; he has been sued by his own brother, twice; he has been sued by Cher.

When Dr. Patrick Soon-Shiong, the billionaire owner of The Los Angeles Times, hired Kevin Merida to be the newspaper's top editor nearly three years ago, he hailed the journalist as someone who would maintain the publication's high standards and journalistic integrity.

ImmunityBio Announces $470 Million Equity and Debt Financing From Founder, Dr. Patrick Soon-Shiong and Nant Entities - ImmunityBio.

Al Habib is the fifth-wealthiest physician on the Bloomberg index, and one of few medical doctors to rank among the world's richest people. Miriam Adelson, the widow of casino magnate Sheldon, is worth $34 billion, while Thomas Frist, co-founder of hospital network HCA Healthcare Inc., is worth $25 billion.

Still, they can expect to have an average net worth of $500,000 if they have managed their finances carefully and have begun investing. By the time physicians reach their forties, it is very possible to achieve millionaire status, with some physicians even becoming multimillionaires.

However, medical geneticists, also known as clinical geneticists, are believed to be among the rarest types of doctors. They specialize in diagnosing and treating genetic disorders that affect a relatively small percentage of the population. In the United States, there are only about 1,200 medical geneticists.

What medical specialty has the most millionaires? ›

Plastic surgery is the specialty with the most physicians reporting a net worth exceeding $5 million, according to Medscape's "Physician Wealth & Debt Report 2023." The report, released June 9, includes responses from 10,011 physicians in more than 29 specialties from Oct. 7, 2022, to Jan.

Thomas Frist Jr., MD, the richest self-made physician billionaire in the U.S. — worth $21.1 billion — earned a "self-made" score of seven.

His purchase saved the paper from more steep cuts as Tronc had been making plans to close The Times' Washington bureau and, according to Soon-Shiong, lay off as much as 20% of the staff.

His purchase saved the paper from more steep cuts as Tronc had been making plans to close The Times' Washington bureau and, according to Soon-Shiong, lay off as much as 20% of the staff.

Soon-Shiong and his family spent $500 million in June 2018 to buy The Times and the Union-Tribune from Chicago-based Tribune Publishing after a decade of turmoil and dramatic cuts to The Times.

The world's richest doctor, Dr. Patrick Soon-Shiong, was born and raised in South Africa. his vision of advancing tech and science in Africa.