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The South African Billionaire Who Became the Richest Man in Los Angeles: Patrick Soon-Shiong’s Story

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Patrick Soon-Shiong, a name synonymous with medical innovation, billion-dollar deals, and bold business ventures, wasn’t born into wealth. His journey began in Port Elizabeth (now Gqeberha), South Africa, where he grew up under apartheid—a time marked by rigid racial divisions that shaped his early experiences. Today, he stands as one of the most influential figures in Los Angeles, with a story that bridges continents, industries, and historical moments.

Early Life: Growing Up in Apartheid South Africa

Born in 1952 to Chinese immigrant parents who fled to South Africa after Japan’s invasion of China, Soon-Shiong’s upbringing was anything but typical. His father, a herbalist, instilled in him a passion for health and healing. Despite apartheid’s harsh racial laws, Soon-Shiong navigated a “strange normal,” building friendships across racial lines, though still facing systemic discrimination.

At just 16, he enrolled at the University of Witwatersrand to study medicine, graduating in the top four of his class. His first job as a doctor in South Africa required government approval simply because he was of Chinese descent—earning only half the salary of his white peers.

Medical Breakthroughs and the Move to America

Soon-Shiong’s career skyrocketed after moving to North America with his wife, Michele B. Chan, whom he met at a university basketball game—a sport that remains his lifelong passion. After completing his residency in Canada, he became the youngest professor of surgery at UCLA, where he performed groundbreaking pancreas and kidney transplants.

But his true medical legacy began when he shifted his focus to biotechnology. Soon-Shiong pioneered islet cell transplantation, a procedure offering hope to people with type 1 diabetes. This innovation set the stage for his future billion-dollar ventures in the pharmaceutical world.

Billion-Dollar Breakthroughs: Building a Fortune in Biotech

Soon-Shiong left UCLA in 1991 to dive into the biotech industry, founding VivoRx Inc. and later APP Pharmaceuticals in 1997. His most notable achievement? Developing Abraxane, a revolutionary drug for treating pancreatic cancer. Unlike traditional chemotherapy drugs, Abraxane effectively targeted tumors with fewer side effects, making it a blockbuster success.

In 2010, Soon-Shiong sold APP Pharmaceuticals and Abraxis BioScience for a combined $9.1 billion, cementing his status as a billionaire. By 2015, his net worth peaked at $12.2 billion, though it has since decreased to $6.2 billion as of 2024, according to Forbes.

A Billionaire with South African Roots

Despite his global success, Soon-Shiong never forgot his South African heritage. In 2021, he partnered with President Cyril Ramaphosa to launch NantSA, part of his NantWorks network. The initiative aims to boost vaccine manufacturing and biotech capabilities across Sub-Saharan Africa, addressing critical healthcare gaps highlighted by the COVID-19 pandemic.

In 2022, Soon-Shiong opened a state-of-the-art vaccine manufacturing facility in Cape Town, a significant step towards medical self-reliance in Africa.

Beyond Biotech: Basketball, Media, and Controversy

Soon-Shiong’s interests stretch far beyond healthcare. In 2010, he became part-owner of the Los Angeles Lakers, indulging his passion for basketball on a grand scale. His media ventures include the high-profile purchase of the Los Angeles Times and The San Diego Union-Tribune in a $500 million cash deal in 2018.

However, his media tenure hasn’t been without controversy. In 2024, allegations emerged that he interfered with the editorial independence of the LA Times, reportedly blocking an endorsement for Kamala Harris during the presidential election—a move that marked the first time the paper refrained from making an endorsement.

The Legacy of Patrick Soon-Shiong

Patrick Soon-Shiong’s journey from apartheid-era South Africa to becoming the richest man in Los Angeles is more than a rags-to-riches tale. It’s a story of resilience, innovation, and a relentless drive to challenge the status quo. His contributions to medicine, business, and society continue to shape lives, both in the U.S. and back home in South Africa.

As his ventures evolve and his influence expands, Soon-Shiong remains a testament to what’s possible when ambition meets purpose, proving that even in the face of adversity, one can rise to global prominence.

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