South African-born billionaire Patrick Soon-Shiong’s fortune plunges by $1.1 billion in 16 days
Soon-Shiong’s net worth plunges by $1.1 billion due to the declining value of ImmunityBio shares.
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.
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.
His biotech company’s share price has dropped by more than 15 percent in the past six days.