South African-born billionaire Patrick Soon-Shiong makes $1.8 billion in just 26 days
Soon-Shiong’s stake in ImmunityBio has grown by $1.37 billion, from $2.51 billion to $3.88 billion since late April.
Soon-Shiong’s stake in ImmunityBio has grown by $1.37 billion, from $2.51 billion to $3.88 billion since late April.
The decline marks a continuation of the previous trend for Soon-Shiong, who previously saw his net worth decrease by $400 million earlier this month, between March 25 and April 3.
This financial turnaround, pushing Soon-Shiong’s fortune beyond the $10-billion milestone, reaffirms his position among Africa’s wealthiest billionaires.
Patrick Soon-Shiong’s net worth has experienced a significant upswing, rising from $8.68 billion on August 28 to an impressive $8.86 billion
Despite his recent decline in fortune, Patrick Soon-Shiong remains among the richest African billionaires.
This upswing has propelled his fortune above the $9.3-billion mark, solidifying his position as one of Africa’s richest billionaires.
The decline in Soon-Shiong’s fortune can be attributed to the drop in the market value of his 80-percent stake in ImmunityBio.
Soon-Shiong’s present net worth is still lower than the $9.93 billion that he held on May 8.
Soon-Shiong’s net worth plunges by $1.1 billion due to the declining value of ImmunityBio shares.
Soon-Shiong owns a 76-percent stake in ImmunityBio, a late-stage immunotherapy company.
The recent increase reduced his year-to-date wealth loss to $875 million.
Soon-Shiong remains one of the richest businessmen in the world.
Earlier this year, ImmunityBio opened a plant in South Africa under the name Nant SA.
His biotech company’s share price has dropped by more than 15 percent in the past six days.
Soon-Shiong holds $7.03 billion of his $8.99-billion fortune in cash.
Soon-Shiong owns 73.2 percent of the biotech business.