His ownership stake with the Lakers hardly matches the Buss family. But minority owner Patrick Soon-Shiong is considered the wealthiest person in Los Angeles, and is among one of the 400 richest people in America, according to a recent Forbes report.
Soon-Shiong is ranked 45th earning $9 billion, a slight increase from the 46th ranking he had three years ago when he bought Magic Johnson’s 4.5 percent ownership stake with the Lakers. Soon-Shiong, a 25-year Lakers season-ticket holder before having an ownership stake,, made his fortune both as a surgeon and biotech investor and also played a primary role for cutting-edge treatment for a wide variety of cancers.
Before becoming a Laker minority owner, Forbes had listed his worth at $5.6 billion. Forbes noted Soon-Shiong’s fortunes increased after selling two drug companies for $8.5 billion.
There are 13 NBA owners that made Forbe’s list, including Magic owner Rich DeVos (60th overall with a net worth of $6.8 billion) and Clippers owner Donald Sterling (296th, $1.9 billion).
Forbes said it compiled the list based on in-person interviews with nearly 100 billionaires along with their respective employers, rivals, peers and attorneys. The research also entailed analyzing Securities and Exchange Commission documents, court and probate records, federal financial disclosures and published reports. Meanwhile, Forbes also factored in assets and debt.
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