South African-born medical entrepreneur Dr Patrick Soon-Shiong has emerged as one of the most influential figures in global biotechnology, turning decades of scientific innovation into multibillion-rand success while maintaining strong ties to his country of birth.
Soon-Shiong is the founder of NantWorks, a technology-driven conglomerate that applies biotechnology, artificial intelligence, supercomputing and advanced connectivity to healthcare, energy and media. In 2015, his entrepreneurial journey delivered a major financial milestone when he received an almost $150 million (about R2.3 billion at the time) payout through stock and options from NantKwest, now known as ImmunityBio.
Both NantKwest and ImmunityBio were founded by Soon-Shiong and later merged in early 2021, adopting the ImmunityBio name. Today, NantWorks sits at the centre of a broad portfolio of private and publicly listed companies spanning life sciences, renewable energy, data infrastructure and advanced networks.
According to the Forbes Rich List, Soon-Shiong’s net worth stood at $5.9 billion (approximately R109 billion) as of 1 April 2025, cementing his status as one of the wealthiest and most impactful African-born business leaders in the global health and technology ecosystem.
Born in Port Elizabeth (Gqeberha) in July 1952, Soon-Shiong’s story began far from boardrooms and biotech laboratories. He has shared that his parents migrated to South Africa following the Japanese invasion of China. They were modest shopkeepers, and his father also practised as a herbalist. In South Africa, Soon-Shiong later served as a doctor for the Hakka Association, reflecting his early commitment to community service.
A prodigy, he entered medical school at the University of the Witwatersrand at just 16 years old, graduating near the top of his class. However, his early career unfolded during Apartheid, and despite his academic excellence, racial discrimination shaped his professional experience.
“My first working experience in South Africa as a Chinese doctor required permission from the South African government and paid me only 50% of the salary of my peers,” he previously recalled.
In 1977, Soon-Shiong married his wife, Michele, and relocated to Vancouver for his junior residency before rapidly rising through the ranks in the United States. His talent and work ethic saw him fast-tracked to the UC Davis Medical Center, and he later became the youngest professor of surgery at UCLA. By the age of 30, he had successfully performed the first two whole open pancreas and kidney transplants.
In 1991, he left academia to build biotech businesses that would redefine modern medicine. He launched VivoRx Inc, focusing on diabetes and cancer treatment, which later evolved into APP Pharmaceuticals. Holding 80% of the company’s shares, Soon-Shiong saw APP sold to Fresenius SE for $4.6 billion (around R36 billion) in 2008.
He continued his innovation streak with Abraxis BioScience, founded in 2005, where he developed Abraxane, an improved chemotherapy drug delivery system. The company was acquired by Celgene in 2010 for $2.9 billion, earning Soon-Shiong an estimated $533 million (about R3.7 billion).
Beyond pharmaceuticals, he founded NantHealth to enable fibre-optic and cloud-based sharing of healthcare data, before launching NantWorks in 2011. The group describes its mission as converging advanced semiconductor technology, supercomputing, secure networks and augmented intelligence to transform everyday life.
Soon-Shiong has also backed future-facing technologies, becoming an early investor in Zoom in 2013 and expanding into energy innovation through NantEnergy, which announced a zinc-air battery in 2018 projected to cost significantly less than lithium-ion alternatives.
Importantly, his vision has extended back to South Africa. In January 2022, Soon-Shiong opened a manufacturing campus and vaccine facility in Cape Town, with President Cyril Ramaphosa in attendance. The initiative was backed by a planned R4 billion investment, reinforcing his commitment to strengthening Africa’s health and manufacturing capacity.
From humble beginnings in Port Elizabeth to shaping the future of global biotechnology, Dr Patrick Soon-Shiong’s journey reflects the power of African excellence, scientific innovation and long-term vision — values that continue to redefine what is possible on the global stage.
