South African-born biotech entrepreneur and physician Patrick Soon-Shiong has become the richest person in Los Angeles, with an estimated net worth of $8.4 billion (R139.1 billion).
Patrick Soon-Shiong left South Africa after high school and medical school, built a biotech fortune in North America, and is now estimated by Forbes to be worth $8.4 billion in 2026, making him the richest person in Los Angeles.
Soon-Shiong’s rise highlights a recurring pattern: South Africa remains Africa’s largest millionaire market while also producing globally influential billionaires who built much of their wealth abroad, including Elon Musk.
Born in Port Elizabeth (now Gqeberha) in 1952, Soon-Shiong completed high school at 16 and graduated from the University of the Witwatersrand at 23.
BusinessTech reports that he faced professional restrictions as a Chinese doctor, needing government permission to practise while receiving only about half the pay of some colleagues.
