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 downturn marks a sharp reversal from the beginning of the year when Soon-Shiong enjoyed a significant wealth surge.
The surge in Soon-Shiong’s net worth in 2024 highlights the success of his investments, particularly in biotech firm ImmunityBio.
The recent surge in Soon-Shiong’s fortune is largely fueled by the notable increase in the market value of his 76-percent stake in ImmunityBio.
This financial turnaround, pushing Soon-Shiong’s fortune beyond the $10-billion milestone, reaffirms his position among Africa’s wealthiest billionaires.
Saudi doctor Sulaiman Al Habib has now become the world’s second-richest doctor, surpassing South African billionaire Patrick Soon-Shiong.
This financial setback is attributed to the sustained sell-offs that affected the market value of his 76-percent stake in ImmunityBio.
Soon-Shiong’s net worth plunged by $520 million in the first week of 2023 declining from $10.5 billion on Jan. 1 to $9.98 billion.
Soon-Shiong’s financial resurgence throughout this year highlights his business skills and significant influence in healthcare and biotechnology.
With his present $9.45-billion fortune, Soon-Shiong retains his position as one of Africa’s leading billionaires.
Tracing the extraordinary path of Soon-Shiong, whose innovative approach to cancer treatment laid the foundations of a $9.1-billion empire.
Soon-Shiong’s 80 percent ImmunityBio stake powers billion-dollar resurgence.
Patrick Soon-Shiong currently ranks as the 220th wealthiest individual on the global list of the world’s wealthiest individuals.
Despite this recent setback, Soon-Shiong still retains his status as one of Africa’s leading billionaires.
At the time of drafting this report, Soon-Shiong held the 257th position on the global list of the richest individuals.