South African-born billionaire Patrick Soon-Shiong loses $250 million
Despite the recent financial setback, Soon-Shiong’s influence in the medical field and his entrepreneurial spirit remain undiminished.
Despite the recent financial setback, Soon-Shiong’s influence in the medical field and his entrepreneurial spirit remain undiminished.
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.
South African-born billionaire Soon-Shiong is a force to be reckoned with in the global healthcare arena.
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’s net worth is still down by $287 million since the start of the year.
Soon-Shiong is best known for developing the cancer treatment Abraxane.
South Africa maintains its position as Africa’s largest wealth market and most industrialized economy.
Soon-Shiong owns a 76-percent stake in ImmunityBio, a late-stage immunotherapy company.
The total number of African billionaires stands at 26.
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.