Pharmaceutical, biotech, and energy In 1991, Soon-Shiong left UCLA to start a diabetes and cancer biotechnology firm called VivoRx Inc. This led to the founding in 1997 of APP Pharmaceuticals, of which he held 80% of the outstanding stock, and which was ultimately sold to
Fresenius SE for $4.6 billion in July 2008. Soon-Shiong purchased Fujisawa, which sold injectable generic drugs, in 1998. Soon-Shiong later founded
Abraxis BioScience, with which he would develop Abraxane, Abraxis was sold to
Celgene in 2010 in a cash-and-stock deal valued at just $2.9 billion, earning Soon-Shiong about $533 million in profits. Soon-Shiong founded
NantHealth in 2007 to provide fiber-optic, cloud-based data infrastructure to share healthcare information. Soon-Shiong went on to found
NantWorks in September 2011, whose mission was "to converge ultra-low power semiconductor technology, supercomputing, high performance, secure advanced networks and augmented intelligence to transform how we work, play, and live." It owns a number of technology companies in the fields of healthcare, commerce, digital entertainment as well as a
venture capital firm in the healthcare, education, science, and technology sectors. Particular technologies include
machine vision,
object and
voice recognition,
low power semiconductors,
supercomputing, and networking technologies. In January 2013, he founded another biotech company,
NantOmics, to develop cancer drugs based on
protein kinase inhibitors. NantOmics and its sister company, NantHealth, were subsidiaries of NantWorks. In 2013, Soon-Shiong became an early investor in
Zoom, the video conferencing company. In September 2014, NantWorks LLC, a company headed by Soon-Shiong, invested $2.5 million in
AccuRadio. In 2015, Soon-Shiong's NantPharma purchased the drug Cynviloq from Sorrento Therapeutics for $90 million, including more than $1 billion in compensation for reaching regulatory and sales milestones. Soon-Shiong did not push forward with FDA approval as the agreement dictated, and instead allowed critical patents and deadlines to lapse, presumably due to his financial interest in another drug that would compete with Cynviloq. This "catch and kill" method of eliminating competition follows a pattern of questionable business practices by Soon-Shiong, and claims of "looting" by the celebrity actress and musician
Cher. In 2015, NantWorks LLC invested in Wibbitz in their $8 million series B funding. In July 2015, Soon-Shiong initiated an
IPO for NantKwest (formerly ConkWest) that represented the highest value biotech IPO in history, at a market value of $2.6 billion. In April 2016, the
Los Angeles Times reported that Soon-Shiong received a pay package in 2015 from NantKwest worth almost $148 million, making him one of the highest paid CEOs. Soon-Shiong is also a member of the
Berggruen Institute's 21st Century Council. In September 2018, his company NantEnergy announced the development of a
zinc–air battery with a projected cost of $100 per kilowatt-hour, which is less than one-third the cost of
lithium-ion batteries. In 2019, Soon-Shiong became an investor in Directa Plus, a European-based graphene-based technology company, where he owns 28 percent of the company. In early 2021, Soon-Shiong merged publicly traded NantKwest (NASDAQ: NK) with privately held ImmunityBio (formerly NantCell). The new public entity after the merger is known as ImmunityBio, Inc., trading on NASDAQ under the ticker symbol IBRX. In 2021, Soon-Shiong announced a new investment of $29 million in a
biorenewables company called NantRenewables at SeaPoint in
Savannah, Georgia. In January 2022, Soon-Shiong opened a new manufacturing facility and campus in Cape Town, South Africa with President Ramaphosa. Soon-Shiong and his entities are reported to be investing over 4 billion RAND (~$250 million) into the continent. In February, Soon-Shiong invested in Sienza, a lithium battery company in
Pasadena, California.
Ownership of the Los Angeles Times In February 2018, Soon-Shiong's investment firm NantCapital reached a deal to purchase
Los Angeles Times and
The San Diego Union-Tribune from
Tronc Inc. for "nearly $500 million in cash" as well as the assumption of $90 million in pension obligations. Soon-Shiong, with this acquisition, became one of the first Asian-Americans to be a
media proprietor through ownership in a major daily newspaper in the United States. The sale closed on June 18, 2018. Many
Times staffers expressed alarm at the younger Soon-Shiong's activity, which they viewed as meddling, including privately and publicly contacting staffers to advocate her views. In October 2024, as the
Los Angeles Times editorial board was preparing to endorse
Kamala Harris in the
2024 United States presidential election, Soon-Shiong blocked the newspaper from making any endorsement. This was the first time since 2004 that the newspaper had not endorsed a presidential candidate.
Harry Litman, a senior legal affairs columnist for the Times’ opinion page, also resigned stating, "My resignation is a protest and visceral reaction against the conduct of the paper’s owner, Dr. Patrick Soon-Shiong." In November 2024, the
Los Angeles Times fired its entire editorial board, and Soon-Shiong announced plans to replace them with a new team. Soon-Shiong defended the restructuring for a "fair and balanced newspaper,” echoing the
Fox News slogan. Soon-Shiong further promised a "rebirth" for the newspaper, adding "Every American’s views should be heard." In December 2024, Soon-Shiong announced that the
Los Angeles Times would employ an
AI-powered
bias meter into the newspaper's coverage. The announcement came after Soon-Shiong expressed his desire to include more
conservative voices in the paper's opinion section, following Donald Trump's victory in the 2024 presidential election. In January 2025, Soon-Shiong was accused of diverting the meaning of a
Los Angeles Times op-ed which opposed the
confirmation of
Robert F. Kennedy Jr. as
Health and Human Services Secretary. Soon-Shiong had previously endorsed Kennedy Jr. for the role. The op-ed's author, Eric Reinhart, said that portions of his piece which explicitly called against the confirmation were cut out without his approval, shortly before publication. One of the removed excerpts argued that Kennedy Jr. would "inflict preventable death on [millions of Americans]" due to his "egomaniacal disregard for scientific evidence". The op-ed was published under the headline "Trump’s healthcare disruption could pay off — if he pushes real reform". In contrast, Reinhart's suggested title was "RFK Jr’s Wrecking Ball Won’t Fix Public Health". When the op-ed was published, Soon-Shiong shared it on
X along with a comment saying that Kennedy Jr. was "our best chance of [pushing reform in the American healthcare system]". He also discussed taking the
Times public and other media trends. == Philanthropy ==