THE MONEY: South Africa-born pharmaceutical billionaire has big exposure to stock market, which had solid returns over past year. State bonds purchased at low point for California have appreciated along with state’s financial outlook. Doctor, marking unprecedented sixth year atop Wealthiest Angelenos list, also boosted net worth by bringing new investors into some of his technology and health care companies, giving first glimpse at those companies’ market value. NantHealth now valued at more than $1 billion; at least one other company under NantWorks’ umbrella valued at more than $1 billion thanks to investments made in 2012. Investment gains racked up since cashing out of two pharmaceutical ventures, netting nearly $5 billion in cash, have been revised upwards. Larger of two sales closed in late 2008, just as stocks bottomed out.
BUZZ: Holds on to No. 1 spot despite huge surge over past two years by up-and-comer (and fellow South African) Elon Musk. At this rate, it won’t be long before doctor and technology investor is wealthiest person in L.A.’s history, distinction held by casino investor Kirk Kerkorian (No. 5), whose net worth once topped $16 billion. Recently completed relocation of NantWorks to sprawling new Culver City campus. Focus in past year has been on bringing NantWorks products and services to market, particularly supercharged health care information superhighway that is focus of NantHealth. Kuwait Investment Authority’s $100 million investment, announced last month, will accelerate rollout of cloud-based clinical health information system linking patients, health care providers and medical researchers. DreamPlay joint venture with Malibu toymaker Jakks Pacific Inc. (in which Soon-Shiong is largest individual shareholder) has spawned iPhone and Android apps as well as toys for kids featuring proprietary iD recognition technology. On philanthropic front, Chan Soon-Shiong Family Foundation, overseen by wife, Michele Chan, major supporter of St. John’s Health Center in Santa Monica. Donated $4 million to the University of California Global Health Institute in November. Non-profit Chan Soon-Shiong Institute for Advanced Health has invested roughly $500 million in more than 35 companies and projects. Soon-Shiong finished high school at 16 and med school at 23. After moving to Canada on fellowship, recruited to UCLA in 1980 as researcher. Avid basketball fan enjoys perks of part ownership in Los Angeles Lakers, which he acquired from Earvin “Magic” Johnson in 2010. Die-hard Lakers fan, we’re told he’s one of few L.A. billionaires not interested in buying Clippers.
*recalculated
NET WORTH:
$13.9 billion s31%
LAST YEAR: $10.6 billion*
AGE: 61
RESIDENCE: Brentwood
SOURCE OF WEALTH: Pharmaceuticals, investments
