South African billionaire Patrick Soon-Shiong’s fortune has experienced a remarkable surge in his fortune, with his net worth soaring by $800 million over the past 29 days. This is attributed to the performance of his investment in ImmunityBio, a late-stage immunotherapy company.
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 $800 million recently. It rose from $10.1 billion on Feb. 5 to $10.9 billion today.
This increase means his fortune has been growing by an average of $27.58 million per day since Feb. 5, bringing his net worth close to $11 billion. This cements his status as not only one of South Africa’s wealthiest individuals but also as one of Africa’s top billionaires.
ImmunityBio sparks a $500-million surge in Soon-Shiong’s wealth
The recent $800-million surge in Soon-Shiong’s fortune over the past 29 days is largely fueled by the notable increase in the market value of his 76-percent stake in ImmunityBio. The California-based company specializes in advanced therapies and vaccines for cancer and infectious diseases.
Investors on the Nasdaq Stock Exchange have expressed confidence in ImmunityBio, consistently increasing their positions and propelling the company’s shares up by 25.05 percent, from $4.04 to $5.07 per share. Since Feb. 5, Soon-Shiong’s stake has surged by $500 million, reaching $2.7 billion.
Patrick Soon-Shiong Secures 211th Spot Surpassing Nicky Oppenheimer
Presently ranked as the 211th wealthiest individual on the global list of the world’s wealthiest individuals, Soon-Shiong is positioned just below Johann Rupert and ahead of South African billionaire Nicky Oppenheimer, who has a net worth of $10.4 billion.
The surge in Soon-Shiong’s wealth highlights the substantial returns from his investments, notably in immunotherapy, solidifying his status among the world’s wealthiest individuals.
