Home » South African billionaire Patrick Soon-Shiong’s net worth soars above $10 billion

South African billionaire Patrick Soon-Shiong’s net worth soars above $10 billion

Soon-Shiong's billion-dollar rebound: The ImmunityBio effect on global wealth rankings

by Feyisayo Ajayi
Patrick Soon-Shiong

In a recent upswing to his burgeoning wealth, South African-born billionaire Patrick Soon-Shiong has experienced a noteworthy surge, adding $1.15 billion to his net worth in just sixteen days — this surge has propelled his wealth figures above the $10-billion milestone.

According to the Bloomberg Billionaires Index — which tracks the fortunes of the world’s top 500 billionaires — Soon-Shiong’s net worth has surged by an impressive $1.15 billion over the last sixteen days, climbing to $10.6 billion on Dec. 29 from $9.45 billion on Dec. 13.

This recent surge in his fortune translates to an average daily gain of $71.88 million since Dec. 13, propelling him beyond the $10 billion milestone and further solidifying his status as one of Africa’s wealthiest billionaires. 

Navigating market tides: Patrick Soon-Shiong’s $1.62 billion YTD surge

Earlier this year, Soon-Shiong weathered a challenging period, witnessing a significant downturn in his fortune amounting to millions of dollars. However, recent sustained growth in his wealth has resulted in a noteworthy upswing, with a substantial $1.15-billion increase propelling his year-to-date gains to a total of $1.62 billion.

These recent gains underscore Soon-Shiong’s influential role, particularly notable for his groundbreaking contributions to cancer treatment within the global healthcare sector, overcoming market challenges along the way.

In 2022, Soon-Shiong’s net worth decreased by $1.02 billion, from $9.95 billion at the start of the year to $8.93 billion as of Dec. 31, 2022. Nevertheless, buoyed by the recent market performance of his late-stage immunotherapy company, ImmunityBio, he now joins the ranks of African billionaires who have realized wealth gains exceeding $1.5 billion this year.

Soon-Shiong’s billion-dollar rebound: The ImmunityBio effect on global wealth rankings

Soon-Shiong presently ranks as the 208th wealthiest individual globally, trailing behind Swedish billionaire Antonia Axson Johnson, the fourth-generation head and chairman of Axel Johnson AB, a family company established by her great-grandfather in 1873.

A cornerstone of Soon-Shiong’s billion-dollar fortune is his 80-percent majority stake in ImmunityBio, a leading late-stage immunotherapy company pioneering cutting-edge cell and immunotherapy products.

Soon-Shiong’s financial resurgence throughout this year highlights his business skills and significant influence in healthcare and biotechnology. According to Bloomberg’s latest figures, his stake in ImmunityBio has increased from $1.69 billion on Dec. 13 to $2.77 billion at the time of writing.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.