A special report published by labusinessjournal.com shows that the wealthiest resident in Los Angeles today is a Chinese man. Billionaire and biotech entrepreneur Patrick Soon-Shiong was born in South Africa in 1952. Mr. Soon-Shiong is a founder and CEO of Abraxis BioScience and has a majority stakes in American Pharmaceutical Partners (APP). He has a net worth of $7.1 Billion and grows over 18% annually, as per labusinessjournal.com. Abraxis BioScience is a biotechnology company which develops cancer treatment and drugs.
According to labusinessjournal.com, Mr. Soon-Shiong and his wife Michele Chan has pledged $100 million to rebuild Martin Luther King Jr. Hospital in the center of Los Angeles city last November. The hospital was closed due to current economy turmoil in the Los Angeles county. In an interview during the $100 million pledge to the city which was quoted by labusinessjournal.com, Mr. Soon-Shiong said “My hope is that this could catalyze other philanthropists to stand up and participate.”
(Photo: AP Images)
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