$3.7 billion -12%Last Year:
Los AngelesSource of Wealth:
The Money: South African-born research scientist and surgeon controls 84 percent of Abraxis BioScience Inc., maker of injectable cancer, infection and other critical care drugs. It's the bulk of his fortune and Wall Street has hammered the shares over the past 18 months.
Buzz: Mixed year for founder and chief executive of the Westside biotech, which has seen star cancer drug Abraxane pick up steam since a slow launch in February 2006 but is still below Wall Street expectations. Has formed co-promotion agreement with AstraZeneca to help promote the drug. Also acquired a former Pfizer manufacturing plant in Puerto Rico to boost manufacturing capacity for all products, and bought property in Culver City for a research and development facility. Personally, Soon-Shiong and actress wife Michele Chan joined the ranks of wealthy L.A. philanthropists in January with a $35 million pledge to St. John's Health Center in Santa Monica. Part of the gift will create the Chan Soon-Shiong Center for Translational Sciences, aimed at speeding to market innovative medical breakthroughs. Soon-Shiong this month was honored with the prestigious Ellis Island Medal of Honor for his efforts in scientific innovation. Son of Chinese doctor who fled to South Africa during World War II. Educated in South Africa, he joined the UCLA medical school faculty in 1983. First company, VivoRx, faltered after feuding with investors. In the 1990s founded generic drugmaker American Pharmaceutical Partners Inc., based in suburban Chicago. Merged it last spring with privately held American BioScience to create Abraxis, which is based in Los Angeles.
* recalculated to better reflect holdings
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