Michelson became a billionaire in 2005 after reaching a $1.35 billion settlement with medical manufacturing giant Medtronic, which involved an extended court fight over the orthopedic spinal surgeon’s patents. He has generated more than 955 issued or pending patents worldwide related to orthopedic surgery. Michelson’s Karlin Asset Management Inc. manages over $1.5 billion in capital, which it invests in real estate, global equities and natural resources.
USC’s Michelson Center for Convergent Bioscience opened in October 2017, made possible by a $50 million gift from Michelson and his wife, Alya. Michelson was inspired to become an orthopedic surgeon by his grandmother who suffered from a spinal deformity. In late 2016, Michelson’s education nonprofit 20MM Foundation launched an education/technology accelerator, Michelson Runway, and added artificial intelligence firm AdmitHub to its investment portfolio. Karlin Asset Management’s real estate arm, Parmer, purchased a site in Research Triangle Park in North Carolina.
Last year: $1.9 billion
SOURCE OF WEALTH: Medical devices, investments