Our Haute 100 list details the accomplishments of the most influential people in each of our markets—Miami, New York, Los Angeles, and San Francisco. These people continue to make moves, so rather than waiting for the next Haute 100 issue to come out, we thought we’d provide you with regular updates on those Haute 100 members who are making headlines. Biotech billionaire Dr. Patrick Soon-Shiong can add another successful deal to his portfolio, selling Abraxis to Celgene for $2.9 billion this week, following the sale of American Pharmaceutical Partners to German health care company Fresnius in 2008.
Dr. Patrick Soon-Shiong
Company: (Formerly) Abraxis BioScience
What made him Haute: This medical genius was a doctor by the age of 23 and began to develop treatments for diabetes and cancer. He recently sold his American Pharmaceutical Partners to a German company for $5.6 billion. He will use this profit to build research labs for physicists, mathematicians, computer scientists, and doctors to create a database of biological markers.
What make him Haute now: Dr. Patrick Soon-Shiong’s net worth is due for a checkup after the recent sale of LA-based Abraxis BioScience to Celgene. He sold his 82.4 percent of the company that he owned, 33 million shares, for $2.9 billion in cash and stocks, adding almost $2.4 billion to his net worth. Forbes valued Soon-Shiong’s prior net worth at $5 billion, making him one of the wealthiest men in LA ahead of Hollywood moguls and the richest man in the drug biz. The Los Angeles Business Journal named Soon-Shiong its “Business Person of the Year” in March. Dr. Soon-Shiong can now more closely focus on his educational endeavors as executive director of the UCLA Wireless Health Institute and professor of microbiology, immunology and molecular genetics and professor of bioengineering at UCLA; as well as philanthropic activities related to health care, including the National Coalition for Health Integration.