ImmunityBio

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.