Patrick Soon-Shiong, a name that might not ring a bell like Elon Musk or Jeff Bezos, has quietly become the wealthiest person in Los Angeles. Born in Port Elizabeth, South Africa, in 1952, this surgeon-turned-entrepreneur has built a fortune estimated at $8.4 billion by 2026, according to Forbes. His story is not just about money—it's about how talent from the African continent can reshape industries worldwide.
Soon-Shiong's path to the top wasn't straightforward. After facing professional limitations in apartheid-era South Africa, he moved first to Canada and then to the United States. There, he revolutionized medicine by pioneering islet cell transplants for diabetes and later developing Abraxane, a groundbreaking cancer drug. But his ambitions didn't stop at the operating table.
From Surgeon to Media Mogul and Sports Investor
Today, Soon-Shiong's influence in Los Angeles extends far beyond biotech. He is the executive chairman of the Los Angeles Times, a minority owner of the Lakers, and the driving force behind NantWorks, a network of startups using artificial intelligence to advance cancer immunotherapy through his company ImmunityBio. This diversification has cemented his status as a key figure in the city's cultural and economic landscape.
His success mirrors that of other South African-born billionaires like Elon Musk and Mark Shuttleworth, who also built their empires abroad. Yet Soon-Shiong stands out for maintaining strong ties to his homeland. In 2021, he partnered with President Cyril Ramaphosa to launch NantSA, a platform to boost vaccine manufacturing and biotech capabilities in South Africa, with state-of-the-art facilities in Cape Town.
This investment aims to position the Western Cape as a global life sciences hub, creating jobs and attracting talent. It's a reminder that wealth can be a bridge between continents, especially as Latin America and Africa face similar challenges in scaling innovation. For Latino readers, Soon-Shiong's story resonates with the diaspora experience—leaving home to find opportunity, then giving back.
As Los Angeles gears up for the World Cup 2026, with Mexico facing South Africa in the opener, Soon-Shiong's presence adds another layer to the city's global connections. His journey from Port Elizabeth to the top of LA's wealth ladder is a testament to how talent and determination can transcend borders.
For Latino entrepreneurs and investors, Soon-Shiong's story offers a lesson: value creation often happens where ecosystems support it. While South Africa remains Africa's largest millionaire market, with 41,100 high-net-worth individuals, many of its brightest stars shine brightest abroad. Soon-Shiong, however, is working to change that by channeling his resources back home.
His legacy is still being written, but one thing is clear: the richest man in Los Angeles is not just a billionaire—he's a bridge between worlds, proving that success can be both global and deeply rooted.
