South African-born Billionaire Patrick Soon-shiong Loses 1.2 Billion In A Month

Patrick Soon-Shiongs net worth fell by 1.2 billion in a month, dropping to 10.3 billion after a strong start to 2025.

ImmunityBio shares tumbled 25 in a month, cutting its market cap to 2.02 billion despite reporting improved financial results.

Soon-Shiong remains one of Africas richest billionaires, ranking 278th on Bloombergs list, with continued influence in medicine and biotech.

After a strong start to the year, South African-born billionaire Patrick Soon-Shiong has seen his net worth take a sharp hit, dropping by 1.2 billion in just one month. The decline has wiped out nearly all the gains he made in the first seven weeks of 2025.

Soon-Shiong, widely recognized for his breakthroughs in medicineincluding the development of the cancer drug Abraxanewas worth 11.5 billion as of Feb. 20. But since then, his fortune has fallen to 10.3 billion, according to the Bloomberg Billionaires Index .

The recent dip follows a period of impressive growth that saw his net worth climb from 10.3 billion on Jan. 1 to 11.5 billion by mid-February. Despite losing nearly as much as he gained, his overall net worth for the year is still up by 6.52 million at the time of this report.

The 1.2 billion drop is largely tied to a revaluation of Patrick Soon-Shiongs private investments and cash holdings, as well as the performance of his 76-percent stake in ImmunityBio, a late-stage immunotherapy company focused on cancer and infectious disease treatments.

ImmunityBios stock had a strong run earlier this year, pushing its market capitalization past 3 billion. But in recent weeks, shares have taken a hit, dropping from 3.9 on Feb. 20 to 2.76. That decline has shaved its market cap down to 2.02 billion on the Nasdaq Stock Exchange.