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The South African-born billionaire says he will not sell his minority Lakers stake and intends to partner with incoming owners Bob Iger and Josh Kushner.
South African-born billionaire Patrick Soon-Shiong has a net worth of $16.6 billion, making him the richest person in Los Angeles and one of the wealthiest South African-born individuals in the world.
Patrick Soon-Shiong aims to open L.A. Times ownership to the public while boosting media trust and civic participation.
Their ventures have reshaped industries, establishing a lasting global legacy.
The decline has wiped out nearly all the gains he made in the first seven weeks of 2025.
From luxury goods to mining and fintech, they shape economic trends and investment flows across Africa and beyond.
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.