Patrick Soon-Shiong is a bit of a walking contradiction. You've probably heard him called the "richest doctor in the world," a title that carries a certain weight, but also a fair amount of baggage. Some see him as a visionary who basically invented a new way to fight cancer. Others? They see a billionaire who buys up newspapers and sports teams while making massive, sometimes polarizing, promises about "curing" the incurable.
He's complicated.
Born in South Africa to Chinese immigrant parents who fled during World War II, Soon-Shiong didn't exactly have a silver spoon. He finished high school at 16. He was a doctor by 23. This isn't just a story about money; it’s a story about a guy who moved to Los Angeles and decided to fundamentally change how the medical establishment functions. Whether he actually succeeded in that is still a topic of heated debate in the oncology world.
The Abraxane Breakthrough and the Billions That Followed
Most people know he's wealthy, but they don't always know why. It wasn't just savvy investing. It was Abraxane.
Back in the 90s, the standard treatment for many cancers involved Taxol. It was effective but toxic—partly because it had to be dissolved in a chemical solvent that caused horrific side effects. Soon-Shiong had this idea: wrap the drug in albumin, a human protein. The cancer cells would "eat" the protein and get a lethal dose of the drug inside. No solvent needed.
It worked.
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He sold his company, Abraxis BioScience, to Celgene for roughly $2.9 billion. Before that, he sold another company, American Pharmaceutical Partners, for over $4 billion. If you're doing the math, that's where the "richest doctor" moniker comes from. He didn't just practice medicine; he engineered a multi-billion-dollar delivery system.
But here is where things get messy. His reputation in the scientific community is... mixed. While Abraxane is a legitimate staple in treating pancreatic and breast cancer, his later ventures, specifically under the NantWorks umbrella, have faced some serious side-eye.
Cancer Moonshot 2020: Ambition or Marketing?
In 2016, Soon-Shiong launched "Cancer Moonshot 2020" (later renamed Cancer Breakthrough 2020). He promised to harness the power of the immune system and genomic sequencing to turn cancer into a manageable disease.
He talked about it like a revolution.
Critics, including some heavy hitters at Stat News, pointed out that many of the trials involved were small or lacked the rigorous data people expected from such a massive announcement. Honestly, the medical community is wary of "disruptors" who use tech-speak to describe biological processes that are incredibly stubborn. You can't just "software update" a tumor.
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The LA Times and the Struggle for Local News
In 2018, Patrick Soon-Shiong dropped $500 million to buy the Los Angeles Times and the San Diego Union-Tribune. He saved them from the clutches of Tronc, a company that was basically a meme for bad management at the time.
For a while, he was the hero. He moved the headquarters to El Segundo, hired hundreds of people, and seemed intent on proving that a billionaire could save local journalism.
Then came the reality of the media business in the 2020s.
Lately, the LA Times has been bleeding cash—losing tens of millions a year. There have been massive layoffs. Recently, the executive editor walked out. Soon-Shiong has been vocal about the fact that he can't just subsidize the paper forever; it has to stand on its own feet. It's a sobering reminder that even a man who "solved" drug delivery can't necessarily solve the Facebook/Google ad monopoly that’s killing newspapers.
Why Patrick Soon-Shiong Still Matters
Despite the controversies, you can't ignore the footprint. He’s a minority owner of the Los Angeles Lakers. He’s a philanthropist who has poured millions into St. John’s Health Center.
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He’s currently obsessed with what he calls "Nant-G"—a focus on using Natural Killer (NK) cells to treat disease. While the hype is high, the science is actually quite fascinating. He's betting that the next frontier isn't just killing cancer cells, but training the body’s own defense system to do the job more precisely than chemo ever could.
Is he a genius? A salesman? Probably both.
Medical breakthroughs usually happen in tiny, incremental steps. Soon-Shiong likes to leap. Sometimes he clears the gap, and sometimes he falls short, but he never seems to stop running.
Actionable Insights for Following Biotech and Business Leaders
If you're looking at Soon-Shiong as a case study for investment or innovation, keep these things in mind:
- Look for the "Moat": Soon-Shiong’s success with Abraxane came from a patented delivery system, not just a new drug. In biotech, how a drug gets to the cell is often as valuable as the drug itself.
- Verify the "Moonshots": When a leader announces a "revolution" or a "moonshot," check the clinical trial registry (clinicaltrials.gov). Real progress is measured in Phase II and Phase III data, not press releases.
- The "Billionaire Owner" Tax: If you're following his media or sports ventures, understand that these are often legacy plays. They aren't driven by the same ROI metrics as a pharmaceutical startup.
- Watch the NK Cell Space: If you're interested in the future of medicine, keep an eye on Natural Killer cell research. Whether it’s Soon-Shiong’s companies or competitors like Fate Therapeutics, this is where the oncology "meta" is shifting.
Patrick Soon-Shiong isn't a simple figure to categorize. He's a surgeon who rarely picks up a scalpel anymore, a media mogul who hates the current media business model, and a scientist who speaks like a Silicon Valley CEO. He remains one of the most influential, albeit polarizing, figures in the intersection of health and high finance.