South African-born billionaire Patrick Soon-Shiong’s net worth sheds $290 million in six days
His biotech company’s share price has dropped by more than 15 percent in the past six days.
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.
NantSA has launched a plant in South Africa that will produce up to 1 billion COVID-19 vaccines yearly by 2025.
Soon-Shiong became a billionaire after selling APP Pharmaceuticals and Abraxis BioScience for $4.6 billion and $2.8 billion, respectively.
He stressed that the continent can do so by expediting the development of next-gen pharmaceuticals.
The funds will aid the technological transfer needed to jumpstart production in South Africa.
Patrick Soon-Shiong looks to deploy COVID-19 vaccines in South Africa.